Today, innovative silicon solutions and technology development company HPQ Silicon Resources Inc. announced the signature of a Memorandum of Understanding with EBH2 Systems SA.
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In fact, the latter is a Swiss company that possesses a proprietary electrolysis technology that can extract green hydrogen from almost any water source.
About the agreement between HPQ and EHB2
Thus, EBH2 filed a provisional patent for its new and novel process. Accordingly, the company aims to make Green Hydrogen a scalable and adaptable approach to numerous applications.
For instance, these applications include various modes of land and sea transport to single home dwellings. Also, district comprehensive power generation and large-scale industrial applications.
Indeed, EBH2 first successfully tested prototype model has a clean energy production capacity starting at 1 Megawatt of power. Particularly, this can be produced over seven days from 2 liters of water; in fact, this is sufficient energy to power a typical three (3) bedroom suburban house.
If successful, HPQ expects the proposed project to bundle the energy production capability of EBH2 systems. Moreover, under the Agreement, HPQ can acquire a perpetual, worldwide license; particularly, to sell or deploy the bundled HPQ Technologies – EBH2 generator-based systems anywhere in the world.
Worth noting, the Agreement establishes the terms of creating a new Joint venture Company (“NEWCO”) owned by HPQ and EBH2. Accordingly, it will market, sell and service EBH2 systems and products in North America (Canada, Mexico, and the United States).
Further, HPQ and EBH2 noted the potential cost and GHG reduction benefits of the EBH2 first commercial size model are huge. To that adds the units that could readily replace solar panels or standby generators for homeowners.
How the agreement adds to boosting green hydrogen
The global standby generator market is anticipated to grow by 4.9% CAGR between 2021 and 2025. Nevertheless, attaining $ 1.3 billion by 2025. North America has the largest market share at 33.87% in 2019, a market expected to grow with a CAGR of 3.7% by 2025.
To encourage new and creative solutions to bolster clean energy production, the U.S. Department of Energy has just launched what is described as an ambitious Hydrogen Earth shot Program to reduce the cost of pure hydrogen by 80% to $1 per 1 kilogram in 1 decade (by 2030).
In this sense, Bernard Tourillon, President and CEO of HPQ Silicon; “HPQ has been at the forefront of Silicon innovation development since 2015; yet the fact remains that converting quartz into silicon is a highly energy-intensive process.”
Moreover, “EBH2 Systems SA, with their unique process to extract hydrogen from water to generate cheap green energy; indeed, present HPQ with one of these games changing synergetic opportunities that we simply could not overlook.”
Lastly, “when EBH2 demonstrates that the system can do what they say it will, HPQ will be incredibly well-positioned to reduce the cost; and also, the environmental footprint of making its silicon materials. In fact, all the while opening up new and massive addressable markets for a system that can produce cheaply green hydrogen, on-demand.”
