Eastman Chemical Company and Hydrogenious LOHC Technologies have teamed up to make storing and transporting sustainable hydrogen easier and more secure, as well as making it more inexpensive for the fast-growing clean energy sector.
Eastman’s factory in Marl, Germany, produces a LOHC speciality product. The device enables the corporation to meet the growing demand for hydrogen-powered mobility. It has reusability after multiple cycles, simple logistics, and secure storage. The fluid can also be treated to reduce greenhouse gas emissions significantly, so contributing to a completely circular economy.
Eastman is excited about the agreement, which will improve its capacity to meet global demand for liquid organic hydrogen carriers. Its significant industry experience in fluid supply for solar renewable energy projects, production and logistics know-how, as well as technical service knowledge in industrial fluids, qualifies it as an excellent partner for Hydrogenious.
Collaboration with a behemoth like Eastman is a critical step in green hydrogen storage as the future energy carrier, according to Hydrogenious. The goal of the partnership is to optimize the carrier medium by making room for reprocessing.
As European policymakers put out targets, methods, and funding for developing sustainable hydrogen for the de-carbonization of energy-intensive sectors of the global economy, the collaboration makes an essential impact in the energy domain.
Eastman’s stock has risen 50.9 percent in a year, compared to 36.3 percent for the industry. The company’s expected profits growth rate for the current year is anticipated to be 41.1 percent.