AB Igrene has signed an agreement to use technology developed by Proton Technology for conversion of hydrocarbons to hydrogen directly downhole without emitting any greenhouse gases to the atmosphere.
After a review of the technology, AB Igrene has made a site visits to Canada and concluded that Proton’s technology has the potential to create a significant source of environmentally friendly production of hydrogen.
Proton has developed and patented methods for converting methane into hydrogen directly in boreholes. Proton has transferred the relevant rights to the Swedish company All Natural Swedish Oil (ANSO). AB Igrene has now secured access to the technology and necessary expertise through agreements for future hydrogen production from its own sources
“I first came to Mora 6 or 7 years ago to learn about the oil and gas related geology in Central Sweden – which I believe is similar to geology below Canada’s 2.5 trillion barrel oil zone. Through the course of many visits I developed respect for the team of the people around and associated with AB Igrene. This led to the creation of All Natural Swedish Oil (ANSO) AB, and now re-branded as All Natural Swedish Energy (ANSE) AB. I am excited about projected economics for clean energy from this deal, and see that many wonder why Igrene AB captured such exceptionally good value in this deal. The key reason is the early timing of All Natural Swedish Energy’s license for Sweden which gave ANSE control over commercial terms that have been negotiated and discussed between ANSE and Igrene for a long time. Further, the technical data shows there is an interesting geological energy deposit in Sweden, but there are unique challenges related to fractured igneous geology, and a regulatory framework which is unclear with respect to clean hydrogen from hydrocarbon deposits. All said, I am happy to see this progress and wish success for both Igrene AB, ANSE AB, and their shareholders. This deal is good for clean energy and good for Sweden.”Grant Strem from Proton.