Hydro to take a look at hydrogen options
Hydro is exploring the likely for establishing and functioning hydrogen services to meet up with substantial inner desire as nicely as serving an exterior industry, leveraging the company’s industrial and renewable energy knowledge.
“We see a considerable possible for industrial hydrogen usage. Getting a developer and operator position in the hydrogen sector signifies an option for Hydro to reduce industrial CO2 emissions and establish a rewarding and sustainable company based on hydrogen,” says Hilde Merete Aasheim, President and CEO in Hydro.
Hydro has established out a distinct strategic direction towards 2025 and aims to fortify its situation in low-carbon aluminium, while discovering new growth prospects in recycling and new strength.
“Hydro has distinctive abilities that set us aside from other industrial players thanks to our possess renewable energy positions and competence, and large internal demand from customers for gasoline that can be replaced by green hydrogen solutions. We can for that reason construct and acquire a comprehensive worth chain for green hydrogen in Norway,” Aasheim says.
A developer and operator part for Hydro is in line with the company’s inner pipeline of feasible hydrogen tasks and would very likely entail a complete or partial swap from gas to hydrogen in crops in many locations. A probable start to this course of action would be to change from gasoline to hydrogen at some of Hydro’s aluminum vegetation in Norway.
“We have massive inside demand from customers for fuel made use of for heating in our casthouses and anode generation, and a hydrogen manufacturing facility could be put in close proximity to the usage. For Hydro it would lead to our focus on of lessening our individual CO2 emissions by 30% by 2030,” Aasheim claims.
Hydrogen technologies and their apps have been on Hydro’s agenda various periods for many a long time. A number of factors have adjusted in excess of the final years, lifting the profitability in switching from fuel to hydrogen at Hydro’s vegetation. EU and Norway’s ambitions to decarbonize the economic system by 2050 call for hydrogen as an critical vitality carrier, and support techniques are being set in put. Furthermore, technology charge is coming down and Norway is nicely-suited for hydrogen improvement and use due to its interesting, renewable electrical power.
Hydro will revert with additional information about the choices beneath analysis and the way ahead at the company’s very first-quarter strategic update and final results presentation on April 27.
Investor speak to:
Line Haugetraa
+47 41406376
[email protected]
Media speak to:
Halvor Molland
+47 92979797
[email protected]
