BPH Energy’s June quarter update highlights ongoing legal proceedings over the PEP-11 permit, promising progress in AI-driven brain monitoring technology, and strategic moves toward hydrogen production facilities, supported by a robust cash reserve.
- PEP-11 permit judicial review hearing set for September 2025
- Cortical Dynamics nears technical completion of AI-enhanced BARM 2.0 system
- Clean Hydrogen Technologies advances production facility designs in India and USA
- BPH maintains strong cash position with over 60 quarters of funding estimated
- Loans extended to investees Advent Energy and Cortical Dynamics during the quarter
Legal Battle Over PEP-11 Permit Continues
BPH Energy’s investee Advent Energy remains embroiled in a significant legal challenge concerning the PEP-11 offshore petroleum permit. The Joint Venture, where Advent holds an 85% interest, received a refusal notice from the National Offshore Petroleum Titles Administrator (NOPTA) earlier this year. Advent has since sought judicial review in the Federal Court, aiming to overturn the decision and have the permit applications reconsidered. The matter is scheduled for hearing in mid-September 2025, with no new developments reported in the June quarter. The outcome of this case will be critical for BPH’s upstream oil and gas ambitions.
Cortical Dynamics Advances AI Brain Monitoring Technology
On the medical technology front, BPH’s 16.4% investee Cortical Dynamics is nearing the technical completion of its next-generation BARM 2.0 system. This AI-enhanced brain and pain monitoring device uniquely integrates hypnotic depth and pain response monitoring, offering clinicians real-time control during anesthesia. Following technical completion, clinical trials are planned in the US and Netherlands, with regulatory submissions to follow globally. Cortical’s presence at key regulatory summits and upcoming showcases in Canberra underscores its strategic push to engage with regulators and industry leaders, positioning BARM 2.0 as a potential game changer in perioperative care.
Clean Hydrogen Technologies Moves Toward Commercial Production
Clean Hydrogen Technologies (CHT), another BPH investee, has made strides in developing its pilot plant technology for producing turquoise hydrogen and carbon composites with near-zero CO2 emissions. The company is finalizing engineering designs for production facilities in Maharashtra, India, and Louisiana, USA, targeting industrial markets with strong demand. CHT is currently navigating certification processes required for operation in both countries and is seeking approximately US$2.5 million in funding to commence production. The planned facilities are expected to generate revenue within months of securing this funding, marking a pivotal step toward commercialisation.
Financial Position and Funding Outlook
BPH Energy reported cash outflows from operating and investing activities during the quarter, including loans extended to Advent Energy and Cortical Dynamics. Despite this, the company ended the period with a healthy cash balance of A$4.065 million and no significant debt, supported by an unsecured, interest-free loan facility from Grandbridge Limited. Based on current operating cash flows, BPH estimates it has funding available for over 60 quarters, providing a substantial runway to support ongoing operations and investee development activities.
Looking Ahead
With the Federal Court hearing on the PEP-11 permit looming, regulatory milestones for Cortical Dynamics, and funding efforts for Clean Hydrogen Technologies’ production plants underway, BPH Energy stands at a crossroads. The coming months will be critical in determining the trajectory of its diversified portfolio across energy, medical technology, and clean hydrogen sectors.
Bottom Line?
BPH Energy’s next quarter will be pivotal as legal, regulatory, and funding catalysts converge to shape its future.
Questions in the middle?
- What will be the Federal Court’s ruling on the PEP-11 permit judicial review?
- How will Cortical Dynamics’ clinical trials and regulatory approvals progress post-BARM 2.0 technical completion?
- Can Clean Hydrogen Technologies secure the necessary funding to commence commercial production as planned?