Bulgaria’s MFG invests in Green Innovation
MFG Invest, a Bulgarian company, has invested 214,936 levs ($118,050/109,895 euros) in Green Innovation, a local maker of hydrogen electrolyser systems.
According to MFG in a bourse filing, the investment was made as part of Green Innovation’s $2.14 million fundraising round.
ImPulse I, a Bulgarian investment firm, announced a day earlier that as part of the transaction, it had invested 250,000 euros from its ImVenture II fund in Green Innovation. The fundraising also included angel investors.
Green Innovation, a 2016 startup that just changed its name to Hydrogenera, creates alkaline electrolysers and systems that run on renewable energy to produce green hydrogen.
ATOME Energy inks mandate letter with IDB to finance Villeta project
ATOME Energy signed a mandate letter with IDB Invest to finance the Villeta, Paraguay, industrial-scale green hydrogen and ammonia production.
As part of the Mandate, IDB Invest will offer grant funds for the Environmental and Social Impact Assessment (ESIA), a vital step in project development and required by all funders before Final Investment Decision (FID).
The Mandate gives IDB Invest access to confidential information and financial resources to conduct due diligence, and the project must meet IDB Invest’s high standards on important issues such the Environmental and Social Sustainability Policy. The above due diligence and Board approval are required for IDB Invest to finance a project.
The 120 MW Villeta project, South America’s largest green hydrogen and ammonia production project using 24/7 baseload power, is a vital part of Paraguay’s decarbonization energy plan. Final Investment Decision is expected in Q2 2023 and full production in 2025. IDB Invest supports green hydrogen and ammonia projects.
bp seeks public-private partnership to manufacture green hydrogen in Castellón
Andrés Guevara de la Vega, president of fp Spain, makes a call for public-private cooperation so that Castellón can “soon” produce green hydrogen and be in a position to triple the output of biofuels (SAF) by the year 2030.
Guevara, who defined the beginning of the year as “exciting” by bringing together the most representative economic sectors, wanted to “imagine” what the integral energy cluster, which is located to the south of the port and of which the BP refinery is one of the great protagonists, will look like in the next bare seven years in his speech at the PortCastelló -Mediterranean Business Conference, which is taking place this Wednesday at the Grau de Castelló.
He emphasized that soon, green hydrogen produced in the Valentian Community will be available to the rest of Europe in the same way as its ceramics, tiles, batteries, and nougat did.
Guevara de la Vega confirmed that Castellón is one of the few locations in the world focused on the manufacture of green hydrogen, a process that is a “fundamental” part of BP’s transformation as a company, which “is preparing to be net zero.” Guevara de la Vega described the opportunity as “unique,” and he appealed not to lose it.
Vision Energy incorporates Dutch subsidiaries
Vision Energy Corporation incorporates new Dutch corporations to accommodate strategic activities for prospective partners, operators, and launching consumers for its integrated Green Energy Hub development in North Sea Port of Vlissingen, the Netherlands.
Vision Hydrogen BV, a project development company, will build, own, and manage the Company’s proposed Ammonia Cracking Facility to back-crack imported green ammonia to hydrogen gas.
The Ammonia Cracking Facility will interface with the Company’s import, storage, and handling terminal development in Vlissingen through a short pipeline to provide dedicated storage and handling capacity for imported green ammonia feedstock, pending further studies and clearances.
The Company and Linde Engineering signed a Memorandum of Understanding on December 2, 2022, to collaborate on ammonia back-cracking hydrogen production.
Vision Hydrogen BV and Linde Engineering will begin pre-feasibility, pre-development, and initial permit preparation to determine the facility’s land area and allot acceptable land for comprehensive development and engineering.
The Company has also incorporated “Evolution Terminals Operating BV,” a dedicated operating entity to jointly own and operate logistics infrastructure under a joint operating agreement on behalf of the terminal if the terminal’s tank storage assets are owned by more than one strategic equity partner, and “Evolution Terminals SPV II BV,” a special purpose vehicle for joint ownership of specific storage assets with a strategic launching custom.
ReNu Energy makes green hydrogen appointments
ReNu Energy has appointed Owen Hobbs as General Manager of Hydrogen Developments at Countrywide Hydrogen and The Hon. Peter Gutwein as a Director of the company’s wholly owned subsidiary.
Over the course of his 20-year political career, Peter Gutwein served as Treasurer for the State Cabinet for 8 years, State Premier for the final 2 years, Minister for Climate Change, and Minister for Tourism. Peter held a senior manager position in the financial services industry prior to being elected to the Tasmanian Parliament.
Peter’s duties at Countrywide Hydrogen will also involve examining the strategic, financial, and commercial ramifications of ongoing and upcoming green hydrogen projects. He will also offer advice on the procedures for getting regulatory permits and authorisations.
With more than 35 years of experience in general, operational, and technical management, Owen Hobbs is a highly skilled and well-respected senior leader in the energy sector. In Australia and New Zealand, Owen has overseen sizable onshore and offshore oil and gas operations. He also has recent expertise in the development of green hydrogen and green ammonia projects.
The Group’s green hydrogen projects in Tasmania will be Owen’s top priority for getting to the investment decision stage. Additionally, he will help the Group’s Southeast Asia project advance.
US, Mexico and Canada investigate hydrogen development
Following a meeting of their leaders in Mexico City earlier in the day, the leaders of the United States, Mexico, and Canada announced in a joint statement that they will investigate standards to develop hydrogen as a clean energy source.
The nations also promised to “move swiftly” to adopt cleaner fuels, increase the manufacture and use of zero-emission vehicles, and implement other sustainable energy solutions.
