The collaboration positions the company as a global leader in large-scale green hydrogen production systems
The combined technology offerings will include Hydrogen Optimized's RuggedCell™ high-power water electrolyzer and ABB's high-power rectifier
The two companies cemented their alliance by signing a new business agreement at the Hydrogen trade show in Stephenville, New Finland, Canada in the presence of Prime Minister Justin ·Trudeau and Germany Prime Minister Olaf · Scholz
ABB signed an agreement with Canada technology innovator Hydrogen Optimized Inc. (HOI) to expand their existing strategic relationship. This includes ABB's investment in HOI's parent company, Key DH Technologies Inc. (KEY), as they seek to accelerate the rapidly emerging green hydrogen production sector with a unique large-scale architecture. Financial terms of the agreement were not disclosed.
The signing comes after the two companies showcased their green hydrogen technology at the Germany-Canada Atlantic Renewable Hydrogen Expo in Stephenville, New Finland, on August 23, 2022, in the presence of Canada Prime Minister Justin · Trudeau and Germany Chancellor Olaf · Schulz. Hydrogen produced with low to zero CO2 emissions is widely considered essential to achieving net-zero emissions by 2050.
Canada Prime Minister Justin · Trudeau and Germany Chancellor Olaf · Scholz discuss the importance of green hydrogen production for both countries' economies and energy futures. In turn, Joachim Braun, President of ABB Process Industries, and Andrew Stuart, CEO of Hydrogen Optimized, explained how ABB's high-power rectifiers support Hydrogen Optimized's RuggedCell technology to produce hydrogen at scale using wind energy. Leaders meet on August 23 at the Degas Atlantic Renewable Hydrogen Expo in Stephenville, New Finland.
By accelerating the strategic collaboration between ABB and HOI, which was launched in 2020, the two companies are advancing the deployment of large-scale, economical green hydrogen production systems to decarbonize hard-to-abate industries to meet a wide range of basic needs – energy, metals, cement for aircraft, ships, trucks and railways, utilities, ammonia, fertilizers and fuels.
The two companies will leverage their respective capabilities and resources to rapidly commercialize HOI's patented RuggedCell™ high-power water electrolysis technology for use in the world's largest green hydrogen plant. Water electrolysis is the process of splitting water into hydrogen and oxygen using electrical energy. RuggedCell™ technology converts renewable electricity such as hydro, solar, and wind into green hydrogen for industrial use.
Joachim Braun, President of ABB's Process Industries division, said: "We look forward to pursuing the tremendous global opportunities for green hydrogen, building on our two-year working relationship. "After rigorous validation of RuggedCell™ technology, we believe that combined with ABB's high-power rectifiers, it can become a leader in large-scale green hydrogen. Our complementary technologies will strengthen Hydrogen Optimized's value proposition and accelerate RuggedCell's™ commercialization journey." ”
Andrew TB Stuart, President and CEO of KEY and HOI, said, "This agreement has enabled us to succeed in large areas where customers require installations ranging from hundreds of megawatts to thousands of megawatts. "ABB's global footprint, commercial relationships and technology leadership in high-power rectifiers, distributed control systems and manufacturing automation provide us with the market reach and capabilities to achieve our company's goals."
According to a report published by DNV in June 2022, global electrolyser capacity is estimated to reach 3,100 GW by 2050. The organization predicts that by mid-century, electricity-based green hydrogen will be the dominant form of hydrogen production, accounting for 72% of total production.
Proceeds from ABB's investment in KEY, led by ABB Technology Ventures (ATV), will be used to advance HOI's intellectual property development, enhance corporate capabilities to increase business activities, and introduce automated manufacturing and robotics. This will accelerate the rollout of gigawatt-scale electrolyzer manufacturing.
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