BPH Energy Faces Legal Risks and Funding Hurdles Across Its Diverse Portfolio

Legal Hurdles for Advent Energy

BPH Energy’s investee Advent Energy Limited continues to grapple with regulatory setbacks following the refusal of its offshore petroleum permit applications for the PEP-11 permit. The joint venture with Bounty Oil and Gas was notified by the National Offshore Petroleum Titles Administrator that their applications made in 2020 and 2021 were rejected. In response, Advent’s subsidiary Asset Energy Pty Ltd has initiated a judicial review in the Federal Court, with hearings now scheduled for February 2026. Despite the legal challenge, the PEP-11 permit remains active and the joint venture maintains compliance with all contractual and regulatory obligations.

Cortical Dynamics Advances AI Medical Technology

On the medical technology front, Cortical Dynamics Limited, in which BPH holds a 16.4% stake, is nearing the technical completion of its next-generation brain and pain monitoring system, BARM 2.0. This device uniquely integrates hypnotic depth and pain response monitoring using EEG combined with artificial intelligence, offering clinicians enhanced real-time control during anesthesia. Following technical completion, clinical trials are planned in the United States and the Netherlands, with regulatory submissions to follow globally. Cortical’s active engagement with regulatory bodies and industry events underscores its commitment to advancing this innovative technology to market.

Clean Hydrogen Technologies Moves Toward Commercial Production

Clean Hydrogen Technologies (CHT), another BPH investee, has successfully demonstrated its emissions-free turquoise hydrogen and carbon composite production at its pilot plant in India. The company is progressing engineering designs for production facilities in India and the United States, targeting industrial markets with strong demand. CHT is currently navigating key engineering certification processes required for operation in these jurisdictions and is seeking approximately US$2.5 million in funding to commence construction. Once operational, the plants are expected to generate revenue within months, marking a significant step toward commercialisation.

Financial Movements and Outlook

The quarterly report also details payments and loans to related parties, including loans to Advent Energy and Cortical Dynamics totaling over $670,000. These financial movements reflect ongoing support for the investees’ development activities. As BPH Energy’s portfolio spans energy, clean technology, and medical innovation, the company’s progress this quarter illustrates a diversified approach to growth amid regulatory and market complexities.

Looking ahead, the outcomes of the Federal Court hearing for Advent Energy and the clinical trial results for Cortical Dynamics will be pivotal. Meanwhile, Clean Hydrogen Technologies’ ability to secure funding and scale production will be closely watched by investors seeking exposure to emerging clean energy solutions.