Clear Hydrogen UK (CHUK) has extended its partnership with Proton Technologies.
The idea is to generate clear hydrogen from the UK’s aging offshore oil assets while also sequestering massive amounts of CO2 as solid carbonate within the same systems.
CHUK’s founders invested $3.7 million CAD in Proton in 2021 to secure a 20-tonne-per-day production license for use in the United Kingdom and Ireland. The current expansion is 250 times larger, implying a total license value of $925 million CAD for 5000 tonnes per day. Proton will receive 45 percent ownership of CHUK in exchange for increased technical support and governance oversight for CHUK’s team. Two of CHUK’s founders will join Proton’s board of directors.
Chairman of CHUK Hertford King had this to say: “We look forward to the jobs and economic security this will bring to the UK using Proton’s low cost, carbon negative technology to leverage the equipment, assets, offshore knowledge, and people who already support the UK’s offshore energy production. Our intention is for CHUK to be an important component of the UK’s drive to become low carbon energy independent, and our agreement with Proton is a big step in helping us achieve this goal.”
Chairman of Proton Technologies, Grant Strem said: “Our mission is to proliferate this hugely-scalable clean energy technology worldwide as fast as we can afford to. We like partnering with decisive and capable groups like CHUK to fill offtake deals already in advanced discussions. Adapting Proton’s hardware solutions to an offshore setting is easily within the technical grasp of experts in the UK, and this partnership with CHUK is good news for the environment and the UK economy generally. The energy sector is roughly $10 trillion per year. We expect to produce hydrogen at a lower energy cost than natural gas; the implications of this are profound.”
