Nobian and Australian Macquarie's Green Investment Group (GIG) are joining forces. Together, they are launching a new green hydrogen company: the Hydrogen Chemistry Company (HyCC). HyCC will supply safe, reliable, and affordable green hydrogen to make major industries more sustainable. These include aviation, steel production, chemicals and refineries.
Nobian and GIG are taking a unique step with the establishment of Hydrogen Chemistry Company (HyCC). HyCC is a company specialising in water electrolysis to produce green hydrogen from renewable energy. HyCC can therefore accelerate its investments and realise more large-scale projects, made possible as a result of Nobian's expertise in large-scale electrolysis on the one hand and GIG's experience in sustainable project development on the other.
HYCC
HyCC is launching with a team of hydrogen technology and project management specialists. The company has a project portfolio of more than 400 megawatts of electrolysis projects. One example is a planned sixty-megawatt plant in Delfzijl. This plant will provide hydrogen for the production of renewable methanol and aviation fuels. There is also a 100-megawatt project in IJmuiden to enable sustainable steel production. Finally, there will be a 250-megawatt plant in Rotterdam to replace hydrogen from fossil sources. The cooperation will allow HyCC to further enhance its portfolio and expand into the European market.
Preserving
Kate Vidgen is head of Industry Transition and Clean Fuels at GIG. She says: "Green hydrogen is crucial to reduce emissions in industries that have traditionally been difficult to make sustainable. Think of steel and the chemical industry but also, for example, shipping and aviation. We expect an acceleration in the energy transition. We therefore look forward to investing together with an experienced company in this field. That way, we can help industries reduce their emissions."
Rapidly growing hydrogen market
Michael Koenig, CEO of Nobian, says: "We are very excited about this unique step for both Nobian and GIG. With our expertise in large-scale electrochemistry, we can invest in the rapidly growing hydrogen market. In doing so, we are not only creating more value. We are also contributing to lower CO2 emissions and sustainable economic growth."
Scaling up
Marcel Galjee, Managing Director of HyCC, says: "We have a strong team and a healthy portfolio of large-scale green hydrogen projects. The support of these two companies therefore enables us to scale up further. It allows us to become a leader in the safe and reliable supply of green hydrogen. In this way, we can make a vital contribution to the EU target of 40 gigawatts of water electrolysis by 2030."
Close of deal
GIG and Nobian each have a 50 per cent stake in HyCC. The deal is expected to be completed in March 2022. (That is, subject to the requisite regulatory approvals).
Green hydrogen
Green hydrogen is produced by splitting water into oxygen and hydrogen. This process is called water electrolysis. As this is carried out using electricity from renewable sources, it is referred to as green hydrogen. Producing or burning green hydrogen therefore does not result in any CO₂ emissions. The hydrogen can be used as a replacement for fossil fuels or for new circular forms of production. Combining hydrogen with CO and CO₂ from industrial processes can provide new fuels and raw materials for the chemical industry.
Industrial transition
GIG already announced several deals in hydrogen in different regions. These include a focus on supporting the industrial transition and the move to cleaner fuels. Nobian operates several large-scale electrolysis plants in the Netherlands and Germany for the production of chlorine and caustic soda. This uses a technology similar to that of water electrolysis.
