Green Swan Partners LLC and sHYp BV have announced a joint business development agreement as a first step toward forming a formal joint venture.
The membrane-less electrolyzer developed by sHYp produces hydrogen from seawater or brine. Desalination is not necessary, unlike with other electrolyzers. It also doesn’t use a membrane, can be 3D printed, and is built for point-of-use modular generation. As opposed to conventional electrolyzer technology, this eliminates Capex and Opex costs as well as the need for complex distribution pipelines. The electrolyzer can be placed at ports, offshore to capture excess electricity produced by wind, solar, and wave farms, and on-board ships in the future.
“Green Swan Partners is a strong team that brings a valuable execution and commercialization skillset to sHYp Further, they have a unique business model that enables them to build new value for our technology in markets we may not or are not able to pursue alone. This is extremely attractive to a startup and should help us build, scale and grow faster than we could on our own.”
Carl Fischer, CEO of sHYp
“This technology is a game changer. It is a vast improvement over existing electrolysis technology as it requires no desalination and results in no toxic waste, Green and Blue hydrogen technologies are a necessary and critical tool in our portfolio as we tackle climate change, and we’re extremely pleased to be working with sHYp.”
Lala Faiz, Green Swan partner and sustainability expert
In 2019, sHYp was awarded a grant from PowerBridgeNY, a NYSERDA-funded proof-of-concept center, and was included in www.PortXL.org, the world’s premier maritime accelerator. The first commercial pilot for sHYp is scheduled for Q4 of 2021.
“If you look at the feedstock for this technology as being salt water and its need for energy to run the electrolyzer, the most natural co-location site would be off-shore and near-shore wind farms, Imagine a wind farm island with sHYps technology deployed that can provide offtake for H2, CO2, clean water (a product of H2 combustion) and synthetic fuels derived from reforming H2 and CO2! The technology and its end-use applications are varied, including the production of valuable chemicals.”
Chetan Chothani, partner at GSP
In addition to generating H2, sHYp’s technology can simultaneously produce valuable co-products such as magnesium hydroxide and capture CO2 from sea water or modify water pH for water treatment applications. These additional revenue streams are expected to greatly increase the gross margin of the overall process, allowing for hydrogen to be produced at a cost equivalent to or lower than hydrogen derived from methane.
In addition to producing H2, sHYp’s technology can also generate useful co-products like magnesium hydroxide, capture CO2 from sea water, and change the pH of water for water treatment. These additional revenue streams are expected to significantly boost the overall process’s gross margin, allowing hydrogen to be generated at a cost comparable to or lower than methane-derived hydrogen.
The parties will explore markets, verticals, applications, and geographies to commercialize sHYp’s technology under the terms of the Joint Business Development Agreement (JBDA). The parties will form a joint venture to selectively commercialize the technology on a global scale once opportunities are found.
