Thursday, December 08, 2022

ABB and Hydrogen Optimized expand their hydrogen alliance with strategic investment

ABB and Hydrogen Optimized Inc. (HOI), a Canadian technology innovator that enables large-scale green hydrogen production, The two companies have signed an agreement to expand the existing strategic relationship. This includes HOI’s parent company Key DH Technologies Inc. (KEY) includes investment by ABB as it seeks to accelerate the emerging segment of green hydrogen production with a unique large-scale architecture. Financial terms of the contract were not disclosed.

The two companies signed on 23 August after showcasing their green hydrogen technologies at the German-Canadian Atlantic Renewable Hydrogen Expo in Stephenville, Newfoundland, which was attended by Canadian Prime Minister Justin Trudeau and German Chancellor Olaf Scholz. Hydrogen produced with low or zero carbon dioxide emissions is widely considered essential to achieve net-zero emissions by 2050.

Started in 2020 by intensifying the strategic cooperation between ABB and HOI Both companies are making progress in deploying economical, large-scale green hydrogen production systems for decarbonizing industries Hard to press as serving a wide range of essential needs such as energy, metals, cement, utilities, ammonia, fertilizers, and fuel for aircraft, ships, trucks, and railways.

Canadian Prime Minister Justin Trudeau And German Chancellor Olaf Scholz With Abb Division President Joachim Braun
The Prime Minister of Canada, Justin Trudeau, and the German Chancellor, Olaf Scholz, with the President of the ABB Division, Joachim Braun.

Companies will leverage their respective capabilities and resources to rapidly commercialize HOI’s patented RuggedCell™ high-power water electrolysis technology for the world’s largest green hydrogen plants. Water electrolysis is the process of applying electrical energy to split water into hydrogen and oxygen. RuggedCell™ technology converts renewable energy, such as hydro, solar and wind, into green hydrogen for industry.

“We look forward to leveraging our companies’ two-year working relationship to advance the huge global opportunity of green hydrogen,” said Joachim Brown, division president, ABB Process Industries. “After rigorous validation of RuggedCell™ technology, we are confident that, in combination with ABB’s high-powered rectifiers, it can become a category leader in the massive green hydrogen segment. Our complementary technologies will strengthen Hydrogen Optimized’s value proposition and accelerate the commercialization of RuggedCell™.”

“This agreement gives us the success in the large-scale segment with customers requiring hundreds of megawatts of multi-gigawatt installations,” said Andrew TB Stuart, KE and HOI President and CEO. “ABB’s global footprint, business relationships and technology leadership in high-powered rectifiers, distributed control systems and manufacturing automation give us the market access and capability to achieve our company’s goals.”

According to a June 2022 report published by DNV, global electrolyzer capacity is projected to reach 3,100 GW by 2050. The group estimates that electricity-based green hydrogen will be the dominant form of hydrogen production by the middle of this century, accounting for 72% of production.

Proceeds from ABB’s investment, led by ABB Technology Ventures (ATV), will be used to further the development of HOI’s intellectual property, build corporate capabilities to enhance business activity, and introduce automated manufacturing and robotics . This will accelerate the deployment of gigawatt-scale electrolyser manufacturing.

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