Last Thursday May 4, Electric Hydrogen Co. (EH2) annouced plans to open its first electrolyzers factory in Massachusetts. Located in Devens, northwest of Boston, the plant will be a $90 million private investment and is expected to be commissioned late this year. The production team members are already being hired.
EH2 raised $198m in Series B funding last year from strategic investors such as Cosan, Amazon, Equinor, Rio Tinto and Mitsubishi Heavy Industries . Previous investors include Bill Gates’s Breakthrough Energy Ventures and several other venture capitalists.
According to the the press release "The Devens factory will have an annual manufacturing capacity of 1.2GW with production of EH2’s 100MW green hydrogen electrolyzers commencing in Q1 2024."
The California-based company aims to reduce the cost of green hydrogen through economies of scale, modular systems, and “low-cost and efficiency” . At the company's website, there are two "Levelized Cost of Hydrogen" toolkits available:
(open public access, upon register) a simplified tool with key parameters like CapEx, input electricity characteristics (LCOE and capacity factor) used to provide an annual cash flow table and estimate the cost of green H2 production and the project IRR
(client only access) a detailed tool incorporating a comprehensive set of plant and operational parameters like hybrid solar and wind power supply, renewables capacity over-sizing, water supply cost, support mechanisms - grants and tax credits (United States) - and storage sizing and costing
Governments worldwide are betting that green hydrogen will play a key role in cutting emissions in industries, such as fertilizer, cement and steelmaking. Currently heavy industries account for 30% of global GHG emissions, while 95% of hydrogen is still produced with fossil fuels. But a transition towards green hydrogen produced with renewables is already underway. Positive.
Click at the image below for the press release.
If you click here you have all hydrogen related posts from our blog . And here our new project www.hydrogenmarkets.com (still under construction)
