The project’s financial closing, a joint venture with NEOM Co. and American industrial gas company Air Products, is slated to take place in the first half of next year, according to ACWA’s CEO. Last month, he told Arab News that the joint venture had recruited financial company Lazard to assist on the project.
The parties agree to conduct pilot and plant trials to reduce carbon in the steelmaking process, including improving coke quality and evaluating carbon capture, storage, and utilization (CCUS) methods to reduce carbon intensity in the blast furnace, as part of the MoU.
Companies held a completion ceremony for the hydrogen fuel cell distributed power system for microgrids at the Ulsan Technopark in Ulsan, 414 km southeast of Seoul.
According to sources, this large-scale alkaline water electrolyzer has risen to the top of the industry’s technological rankings.
However, it will only be able to move forward if European funds are available, as 2,876 million would be used to fund the entire industry.
In the next three years, the Russian government plans to invest more than 9 billion rubles in the development of hydrogen energy in the nation.
This project was created with the goal of expanding the area of hydrogen mobility beyond vehicles to railroads and preoccupying the worldwide eco-friendly tram market in order to achieve carbon neutrality.
It is predicted to lead to a low-cost technique for mass-producing hydrogen, which is gaining popularity as a next-generation energy source.
The project’s main focus is on green hydrogen exports, but applications for heavy mobility, steel, chemicals manufacturing, and mixed-gas transportation networks are also being considered, which may convert the project into a green hydrogen hub.
This groundbreaking project in Portugal will serve 80 clients from the residential, institutional, and industrial sectors. Learn about the city that was picked.
