For a number of countries in the Asia Pacific area, UPC Hydrogen has obtained the exclusive right to generate hydrogen using Proton Technologies’ technology.
Indonesia, Vietnam, Australia, Malaysia, the Philippines, Mongolia, and Myanmar are among the licensed nations. UPC Hydrogen estimates that the Proton technology can create hydrogen for less than $1.00/KG in these nations from new, plugged, abandoned, or uneconomic oil wells (particularly heavy oil wells) while avoiding any carbon emissions. The technique might deliver low-cost carbon-free electricity in places with fewer natural renewable resources than most countries and a significant scarcity of appropriate land owing to competing activities.
Steven Zwaan, Director of UPC Hydrogen said “When we first visited Proton’s production site in Canada in early 2020, our pre-covid view was excitement about both the potential to load balance renewable-weighted grids with baseload hydrogen, but also the longer-term prospect of an electricity cost potentially lower than wind and solar. Now the world is very attuned to the benefits of saving money while deeply decarbonizing using hydrogen without emitting carbon to surface. There is no need for fresh water for this process and the ecological disturbance is limited to existing infrastructure.”
Grant Strem, Chairman & CEO of Proton added “UPC Hydrogen has been an early and critical supporter in the advancement of this transformative technology. We are delighted to work with UPC Hydrogen and assist as they and we both proliferate this important extremely clean technology.”