Norway's Aker launches new hydrogen company to be listed on Euronext Growth
19/02/2021 10:13
OSLO, Feb 19 (Reuters) - Norway's Aker group AKER.OL on
Friday launched a new hydrogen-focused company which it plans to
list on Oslo small-cap market Euronext Growth, it said, as it
seeks to capitalize from rising demand for green energy.
Aker Clean Hydrogen (ACH) aims to reach net 5 gigawatt (GW)
installed capacity of emissions-free hydrogen production by
2030, with net 1.3 GW already under development, Aker Horizons
AKH-ME.OL , Aker's renewable energy arm, said.
The plans include a 450 MW hydrogen production facility at
Yara's YAR.OL ammonia plant in Norway, supplying hydrogen to
replace coal in the Arctic Svalbard archipelago, as well as
potential projects in Chile and Uruguay. urn:newsml:reuters.com:*:nL8N2KO2U1
"With the launch of ACH, Aker Horizons is... addressing a
massive market poised for global growth, with an opportunity to
have an impact on significant CO2 reductions," Aker Horizons'
Chief Executive Kristian Roekke said.
Emissions-free hydrogen could be produced by splitting water
molecules with an electric current generated by renewable energy
sources, or by "reforming" natural gas in combination with
carbon dioxide (CO2) capture and storage facilities (CCS).
Hydrogen is seen as an energy source which could replace
natural gas in power generation, fuel long-haul transport and
help decarbonize such industries as chemicals and steel.
Most of the hydrogen in the world is produced from natural
gas, but the process emits CO2 and is not sustainable.
Production of so-called "green" hydrogen from water however has
been more expensive.
Aker Horizons said ACH's goal was to reduce the production
cost of clean hydrogen to $1.5 per kilogram by 2030, a level
competitive with gas and coal, compared with around $5 per
kilogram today. urn:newsml:reuters.com:*:nL8N2FS4VE
(Reporting by Nerijus Adomaitis; Editing by Victoria Klesty and
Jan Harvey)
((nerijus.adomaitis@thomsonreuters.com; +47 9027 6699; Reuters
Messaging: nerijus.adomaitis.thomsonreuters@reuters.net))