Tuesday, August 9, 2022

Covestro wants to buy green hydrogen from Australia

Status: 01/17/2022 2:26 PM

Chemical company Covestro has big plans to avoid CO2 emissions in the future. He wants to use green hydrogen on a large scale to be produced in Australia.

Leverkusen-based chemical conglomerate Covestro wants to use environmentally friendly hydrogen produced from Australia at its plants in Asia, North America and Europe. There are plans for a long-term supply agreement with Australian manufacturer Fortescue Future Industries (FFI). The companies have agreed a non-binding declaration of intent, which should result in a “more comprehensive strategic partnership.” FFI is part of the Australian mining company Fortescue Metals Group.

hundreds of thousands of tons a year

FFI shipments can contain up to 100,000 tons of green hydrogen and hydrogen compounds such as ammonia per year. The first delivery is scheduled for 2024. The companies did not provide any information on the likely financial quantum of delivery. It was also unclear when the contract might be signed.

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For comparison: according to a position paper published in 2020, the German chemical industry requires one million tons of hydrogen per year, according to the industry association VCI. One ton of hydrogen has an energy content of about 33,000 kilowatt hours.

Then hydrogen is to be obtained from water using electrolysis. The electricity required for this has to be sourced from renewable energy sources and transported with special ships.

ideal location

Due to vast areas of land that have not yet been used, Australia should be ideal for producing the large amounts of energy needed for hydrogen production. There are significantly more hours of sunshine per year on the continent than in Germany, not only because of the more favorable climate. The Sun also shines more intensely because of its proximity to the equator.

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“According to the Max Planck Institute for Chemical Energy Conversion, Australia would have to install three times as much capacity in order to be able to produce the same amount of energy as in Germany, due to climate differences alone,” he says. For example, the Federal Ministry of Education.

On the other hand, electricity produced from renewable energy in Germany is probably too valuable to be used for the production of hydrogen, as about 40 percent of the electricity used is lost during electrolysis. It is therefore advisable to use solar power produced in Germany directly for reasons of efficiency.

Nation World News Desk
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