Uncategorized

Hy Stor Energy invests $3B in renewable hydrogen project

Hy-Stor-Energy-invests-3B-in-renewable-hydrogen-project.jpg

Today, Hy Stor Energy LP announced a partnership that could become the U.S.’s biggest hub for renewable hydrogen. Thus, the Mississippi Clean Hydrogen Hub would use newly constructed arrays of solar panels. These would help power electrolyzers that split hydrogen from water molecules.

According to Hy Stor Energy, this initiative would also help store zero-carbon hydrogen in underground salt caverns. After that, these would be piped or trucked away to serve as fuel for fuel-cell vehicles. They would similarly be used to be blended into natural gas systems.

Reception at Hy Stor Energy

Jackson-based Hy Stor Energy LP will direct the construction of the firm’s first major project.

In this regard, the company’s chief executive, Laura Luce, commented on the announcement; “The biggest challenge the energy transition faces today is how to bridge the gap to allow renewables to replace fossil fuel electric power generation safely and reliably.”

The CEO also said that in an increasingly uncertain scenario due to climate change, companies must be able to store large quantities of renewable energy reliably. Accordingly, she noted; “We believe the approach we’re taking in Mississippi will become the blueprint for future green hydrogen projects.”

She similarly noted that these projects “not only address the energy transition challenges we face but also bring new jobs, economic revitalization, and low-cost energy to communities in the region.”

On the other hand, Claire Behar, CCO of Hy Stor Energy, commented; “Green hydrogen will play a vital role in the decarbonization of our global societies by offering a viable pathway towards zero emissions.”

Thus, “Hy Stor Energy will serve customers across various industries, including transportation, power generation, and difficult to decarbonize sectors.”

More about the project

According to the Company, this project will significantly benefit Mississippi’s economy and environment by providing reliable, clean energy. Besides, it will stimulate growth for the long term.

The development and commercialization phases, said Hy Stor, could create hundreds of new jobs and attract new manufacturing and industrial companies to the state. Finally, the company noted that the Mississippi Clean Hydrogen Hub would also bring education and workforce development. Opportunities.

Worth noting, Hy Stor wants to start producing hydrogen in 2025. Indeed, this is several years before most analysts believe it will be cost-effective to make renewable power. Hence, the company is targeting 220,000 kilograms of eventual daily production.

In fact, the Mississippi Clean Hydrogen Hub isn’t the first announced plan; notably, one that pairs the production of renewable hydrogen and that tackles solutions for the fuel’s storage and transportation.

Developers of at least one other — the HyDeal Los Angeles project — are thinking in terms of creating “hubs” rather than stand-alone production facilities.

Related posts

DT Midstream Announces Pricing of Private Offering of Senior Secured Notes

Paola Sanchez

Gran Tierra Energy announces corporate update

Paola Sanchez

2021 Statistics: U.S. and Global Industrial Gases Market to Reach USD 146.6 Billion by 2028; Rising Adoption of Industrial Gases in the Oil & Gas Industry, Food & Beverage and Chemical Industry is Driving the Market, States Vantage Market Research

Paola Sanchez