In a recent conversation with Triple Point Resources, we explored the company’s groundbreaking approach to clean energy storage. As the world pushes toward a carbon-neutral future, Triple Point is positioning itself in the middle of this transition, with innovative solutions aiming to reshape the energy landscape. Below is the full transcript of our discussion, detailing Triple Point’s role in utilizing salt caverns for hydrogen storage, their unique location on Newfoundland’s east coast, and their plans for future development.

Can you provide an overview of Triple Point Resources and its primary focus in the clean energy storage sector? 

As an organization, Triple Point Resources, Ltd. (Triple Point) is all about leading the charge in transforming the global energy landscape. Our primary focus is utilizing salt caverns for the storage of hydrogen and compressed air, which is a key component in ensuring the reliability of renewable energy sources in the transition to a sustainable energy future.

What drives us at Triple Point is a strong belief in innovation and collaboration. It’s not just about advancing technology – it’s about building meaningful partnerships with local communities and stakeholders. We’re deeply committed to sustainable development that benefits both the environment and the communities we work with.

Ultimately, our goal is to help create a more resilient and sustainable energy infrastructure that will stand the test of time and serve future generations.

How does Triple Point utilize the Fischells Salt Dome for hydrogen storage, and what are the key benefits of this approach? 

Triple Point’s flagship project, the Fischells Salt Dome, situated strategically in Newfoundland, Canada (on the east coast of North America), is poised to transform intermittent renewables into dependable, safe, and cost-effective low-carbon renewable energy on a utility and industrial scale. 

By harnessing the potential of underground storage, Triple Point aims to drive the decarbonization of the energy industry, ensure a secure energy supply for industrial and grid applications, and enhance the viability of hydrogen projects worldwide. 

The Fischells Salt Dome will contribute to secure energy supply when high energy demand peaks. The project is prepared to provide approximately 200,000 tonnes of hydrogen in 35 million cubic meters of cavern storage. 

Salt caverns have been used since the 1960s and are the preferred choice for underground hydrogen storage for good reason. The salt’s low reactivity with hydrogen, combined with a reduced risk of leaks and lower storage costs, makes it the most efficient and secure option available today.

What are the main technological innovations behind your Compressed Air Energy Storage (CAES) project, and how does it enhance grid stability? 

Compressed Air Energy Storage (CAES) is a well-established technology with over 50 years of history. In recent years, the growing focus on renewable energy storage has led to a rise in CAES projects, particularly in regions where salt caverns are present. Triple Point’s Fischells Salt Dome leverages this proven technology to enhance grid stability by providing a reliable and scalable solution for renewable energy storage.

Unlike traditional battery storage or hydrogen conversion, CAES is uniquely suited to address specific needs, such as supporting peak load demands on the local energy grid. In Newfoundland and Labrador, our CAES system is designed to store excess energy during periods of low demand and release it during peak times, ensuring a stable and consistent power supply. This capability not only helps balance the grid but also maximizes the use of renewable energy sources, making it a key component in our work to support the region’s energy infrastructure.

Can you discuss the strategic importance of your location on the eastern seaboard of North America for your energy projects? 

Fischells Salt Dome is located on Newfoundland and Labrador’s premier wind corridor, which has been attracting multi-billion-dollar wind farms to provide energy to produce hydrogen. 

Newfoundland and Labrador have all the ingredients to be a globally recognized green energy corridor with impressive renewable energy resources, including hydroelectricity, wind resources and the massive renewable energy storage capacity of Fischells Salt Dome.

Right now, there are six wind-to-hydrogen projects in the works across the province, and we expect more to follow. Fischells Salt Dome offers tremendous capacity to safely store industrial scale volumes of hydrogen for all these projects combined. Being located on the east coast of North America allows Triple Point to reach several international markets for export with easy access to deep, ice-free, seaports, and more. Ultimately, the export of products from the Fischells Salt Dome will generate revenue for Newfoundland and Labrador, and will support global decarbonisation efforts by supplying renewable energy to export markets around the world.

What are the anticipated environmental and economic benefits of using salt caverns for hydrogen storage? 

The world is on a mission to become carbon-neutral by 2050 and hydrogen is set to play a crucial role in making that happen. With more than 26 countries already rolling out national hydrogen strategies and governments investing billions of dollars to fuel the growth of a global hydrogen economy, the momentum is undeniable. 

Underground storage in salt domes, like the Fischells Salt Dome, will be a game-changer for the hydrogen industry. It’s a key piece of the puzzle that will help make hydrogen more economically viable and reduce the risks associated with offtake agreements.

Additionally, the Fischells Salt Dome will spur local economic development and create new job opportunities in the energy sector, on a local level. The project’s development is expected to create numerous jobs, driving economic growth in the region. And as the project moves forward, it’s likely to attract further investment into local infrastructure and services, amplifying its positive impact even further.

How does Triple Point plan to collaborate with local communities to ensure sustainable development of the Fischells Salt Dome? 

At Triple Point, we strongly believe that innovation and collaboration are key to driving positive change. As we work toward a sustainable energy future, we’re committed to partnering with local communities and stakeholders to ensure that our development practices are not only sustainable but also beneficial for everyone involved.

Our goal is to build a brighter future for the communities where we operate. We’re focused on establishing long-term relationships, supporting sustainable economic development, creating local jobs, and maximizing the opportunities that come with green energy.

What recent milestones has Triple Point achieved in its quest to support the hydrogen economy, and what are the next steps? 

In June 2024, Triple Point Resources’ Fischells Salt Dome continues to prove ideal for energy storage. These results mark a significant milestone in our project development and provide important information about cavern characteristics to advance our commercial model.

To learn more about this milestone, visit: https://triplepoint.ca/triple-point-resources-fischells-salt-dome-continues-to-prove-ideal-for-energy-storage/ 

How do you see the role of salt caverns evolving in the global energy transition, especially in relation to hydrogen storage? 

As Canada’s only salt dome, Fischells Salt Dome gives the country a unique opportunity to play a key role in the development of a new hydrogen energy network. By tapping into the power of underground storage, Triple Point is committed to driving the decarbonization of the energy industry, ensuring a secure energy supply for both industrial and grid applications, and boosting the viability of hydrogen projects on a global scale.

The Fischells Salt Dome will be crucial in maintaining energy security, especially during peak demand times and in managing supply interruptions.

What partnerships and collaborations have been crucial for Triple Point’s progress, and how do they enhance your operational capabilities? 

Triple Point believes in the power of collaboration to meet the challenges our planet is facing, as they allow us to play a vital role in the renewable energy value chain. Our collaboration with leading organizations such as RESPEC and SubTerra has been instrumental in advancing our Fischells Salt Dome project, particularly in the areas of geological analysis and underground storage solutions.

In addition, our active involvement with industry associations like the Canadian Hydrogen Association (CHA) and the Energy Storage Canada (ESC) ensures that we are at the forefront of industry developments and standards. These partnerships help us influence and shape the global renewable energy value chain, ensuring that our innovations and practices are aligned around the world.

By working closely with these experts and industry leaders, we enhance our operational capabilities, stay informed of best practices, and contribute to the overall growth and sustainability of the clean energy sector.