Hy Stor Energy – a developer of green hydrogen storage, infrastructure and delivery at scale in the United States announced plans to open a green hydrogen storage hub in Mississippi, US which would be one of the largest green hydrogen developments in the world.
The hub will aim to produce 220,000 kg of green hydrogen per day which is the equivalent of fueling 25,000 Hyundai trucks per annum. It will aim to be around ten times larger than any other green hydrogen development in the US. According to data by The International Energy Agency (IEA), its targets make it one of the largest developments in the world.
Hy Stor Energy’s green hydrogen hub would start operations in 2025. The company claims it has found a niche market. Solar and wind energy have their drawbacks as they need batteries to store the extra energy produced in optimal weather conditions.
Batteries still come with a substantial carbon footprint in their production, however, green hydrogen has the potential to resolve these issues. It allows the surplus energy to be compressed in tanks, stored to use when required. Apart from a means of storage, green hydrogen can also be used as a fuel to replace entirely fossil fuels in power generation.
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Not only is green hydrogen clean, renewable and reliable, but it can potentially signify the start of the end to a global reliance on fossil fuels, which are driving the planet ever closer to abrupt climate change.
Hy Stor Energy has partnered with Connor, Clarke & Lunn Infrastructure (CC&L) and secured investments that will help develop, commercialize, and operate the green hydrogen storage hub.
Green hydrogen is expensive at many places around the world but analysts say it is the next most important clean technology for achieving net zero. Investments in the promising technology are also springing up rapidly which raises the prospects of achieving true decarbonization of the economy.
“From 2030 onwards towards 2050, renewable hydrogen technologies should reach maturity, and be deployed at large scale to reach all hard-to-decarbonize-sectors,” according to the European Union Strategy.
The cost of green hydrogen is currently over $5 per kg in the West. The price is a little cheaper in China as it uses alkaline electrolyzers, but they are not used by the West as they are considered less efficient and reliable.
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Hy Stor Energy has taken an ambitious project that is set to be one of the largest single investment undertakings. It also believes the green hydrogen hub will become the blueprint for all other similar projects across the world.
