The Asia Pacific region will soon benefit from hydrogen produced by Proton Technologies – and prices are set to be very competitive at less than $1/kg.
UPC Hydrogen today (September 22) said it will produce the hydrogen with Proton Technologies’ technology as a result of a new exclusive licence agreement.
Under the agreement UPC Hydrogen will be able to produce the energy carrier in countries such as Indonesia, Vietnam, Australia, Malaysia, the Philippines, Mongolia and Myanmar.
To do this, and at such a cheap cost, hydrogen will be produced from new, plugged, abandoned or uneconomical oil wells whilst keeping any carbon from being emitted from the wells.
The duo have said such technology could provide low cost carbon free power in areas that are less rich in natural renewable sources.
On the deal, Steven Zwaan, Director of UPC Hydrogen, said, “When we first visited Proton’s production site in Canada in early 2020, our pre-covid view was excitement about both the potential to load balance renewable-weighted grids with baseload hydrogen, but also the longer-term prospect of an electricity cost potentially lower than wind and solar.
“Now the world is very attuned to the benefits of saving money while deeply decarbonising using hydrogen without emitting carbon to surface. There is no need for fresh water for this process and the ecological disturbance is limited to existing infrastructure.”Grant Strem, Chairman and CEO of Proton, added, “UPC Hydrogen has been an early and critical supporter in the advancement of this transformative technology. We are delighted to work with UPC Hydrogen and assist as they and we both proliferate this important extremely clean technology.”