Australian energy company BPH Energy (ASX:BPH) has announced its investee companies, Clean Hydrogen Technologies and Onshore Energy, have entered into an agreement for processing hydrocarbons from natural gas.

Onshore has rights to gas fields in the Northern Territory, while Clean Hydrogen specialises in processing these hydrocarbons into hydrogen and carbon black products with no CO2 emissions in the core process.

The agreement will see the two companies develop plans for producing clean hydrogen products and Onshore will review Clean Hydrogen's commercial system for integration with their hydrocarbon supply.

BPH Energy has an 8% direct interest in Clean Hydrogen, and a 36.1% interest in Advent Energy which owns Onshore Energy.