The company New Fortress Energy, founded to help accelerate the transition to clean energy, has developed a sector called Zero. Its aim is to deploy and invest in promising hydrogen technologies to replace fossil fuels and eliminate carbon emissions. The latter recently decided to invest in the Israeli company H2Pro, which specializes in green hydrogen.
A new technology for low-cost green hydrogen
H2Pro has a new, innovative hydrogen production technology known as Electro-Thermally Activated Chemical (E-TAC). This system, developed by the Israeli Institute of Technology, relies solely on the use of renewable energies, and splits water into hydrogen and oxygen. The company has transferred its license to H2Pro.
A better alternative to traditional techniques
E-TAC consumes 30% less renewable electricity than the electrolysis technologies currently used to produce hydrogen. With a yield of 95%, this alternative is more profitable and sustainable. The company is also committed to the ecological transition.
New Fortress Energy CEO Wes Edens said:
“We are delighted to partner with H2Pro and invest in a promising technology that can dramatically reduce the cost of producing green hydrogen. Our goal is to accelerate the path for hydrogen to be the zero-emission alternative to fossil fuels and to become a world leader in the provision of carbon-free energy. Combined with low-cost renewable electricity, H2Pro has the potential to produce green hydrogen within our target of one dollar per kilogram.”
Zero’s marketing of the project
New Fortress Energy’s Zero subsidiary will partner with H2Pro to help it present its project to investors and commercialize its new technology. A collaborative technology demonstration project in Israel is scheduled for 2022, while the first commercial pilot project will begin in the USA in 2023.
This project is an important opportunity for many countries currently undergoing ecological transition, such as France, which is looking to develop thegreen hydrogen sector.