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The Project ties in with Chile’s ambition to feature among global leaders in the production of green hydrogen via electrolysis, with a target of 25 GW by 2030.

A preliminary study has been completed by the project’s partner, Chinese state-owned business PowerChina International Group Ltd, according to the developer of electricity and natural-resource projects.

Steel companies are being pushed to achieve net-zero emissions by 2050 as a result of government and corporate net-zero commitments. Efforts to decarbonize steel production are at the heart of China’s, Japan’s, Korea’s, and the European Union’s net-zero goals.

They further stated that the facility would be fueled with renewable energy and water (H20), the latter of which will dissolve into green hydrogen and oxygen through an electrolysis process.

The event marks a watershed moment in the global maritime industry’s decarbonization and exemplifies the US’s energy shift away from fossil fuels.

SpectrumH2 has hired a local EPC firm to help with the project’s early engineering stages. The project entails CO2 capture at a large-scale industrial location, as well as CO2 transportation and sequestration forever into a suitable geologic deposit.

The European Union (EU), for example, aims to be carbon neutral by 2050 and seeks a net-zero economy through European Green Deal programs.

Each PowerTap Unit is designed to be modular and uses PowerTap’s patented technology to manufacture and distribute blue hydrogen on-site.

Minister Matías Kukfas pointed out that “the impression we have left is excellent. We were able to take the first concrete steps of this Green Hydrogen project of the Fortescue company. It was a tour of all the options and potential that the province of Río Negro offers” .

Costa Rica’s 3D policy refers to the national land development strategy published in March to construct a 3D economy for the 2020-2050 inclusive and decarbonized economy (Digitalization, Decarbonization, and Decentralization).