NH3 Clean Energy (ASX:NH3) completed the engineering portion of its preliminary front-end engineering and design (pre-FEED) process for its WAH2 low-emission ammonia project in January, according to a Monday Australian bourse filing.
The firm plans to deliver low-emission ammonia to Asia-Pacific economies, including Japan and South Korea, via the project, the filing said.
The process results will be combined with pricing from the preliminary commercial agreements, that the firm has already entered into, to produce updated pre-FEED financial modeling.
The technical work, preliminary commercial agreements, and Pre-FEED financial modeling will form the basis for the next stage of strategic and customer discussions, the filing said.
It is engaged with over a dozen potential offtake and strategic partners, while management is in the process of updating its economic model.
The firm's shares rose 5% in recent trading on Monday.
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