- Press Releases
December 15 (Renewables Now) - European chemicals giant Nobian and Macquarie’s Green Investment Group (GIG) on Tuesday unveiled plans to set up a green hydrogen venture that will aim to decarbonise emissions-intensive industries in Europe.
To be called the Hydrogen Chemistry Company (HyCC), the new entity will focus on the production of green hydrogen through water electrolysis by using electricity from renewable energy sources. It will be launched with a pipeline of over 400 MW of electrolysis projects that will produce renewable hydrogen to supply aviation, steel, chemicals facilities and refineries.
GIG and Nobian will own 50% of HyCC, according to a deal seen to be completed in March 2022.
The partners will bet on Nobian’s experience in large-scale electrolysis and GIG’s resources and project development capabilities. Among their initial projects will be the construction of a 60-MW green hydrogen and methanol facility in the Netherlands that will supply its output to the aviation industry, while a 100-MW plant near Amsterdam will enable sustainable steel production. A 250-MW green hydrogen facility will be installed in Rotterdam to replace fossil-based hydrogen.
While HyCC will start with Dutch projects, its pipeline will grow and expand further into the European market, GIG said.