Hydrogen Central: 7-6-2021
New Energy Development Company
Green Hydrogen Cost Breakthroughs Could Accelerate Market Adaptation
July 6, 2021
New energy Development Company – green hydrogen cost breakthroughs could accelerate market adaptation.
New Energy Development Company LLC (New Energy) announced the completion of an engineering design which promises to save 10 to 20 percent on green hydrogen and sustainable LNG storage costs.
The hydrogen production and storage facilities New Energy had previously announced will now use the GreenER technology, promising 10%-20% reduced capital and operating & maintenance (O&M) expenses of the facilities. The New Energy GreenER hydrogen facilities will each produce nearly 24,000 kilograms per day of renewable (“green”) hydrogen.
Thomas Quine, Technical Partner at New EnergyTM.
The engineering simplicity of this design has become a reality leveraging from many years of experience in modular and expandable LNG systems.
Scott Shields, Partner, New Energy added:
Our clients understand this technology breakthrough not only reduces project capital and O&M costs, but also can provide a potential increase in their enterprise value by increasing stakeholder demand for their company.
“Nearly one-third — $17.1 Trillion — of all U.S. professionally managed funds now incorporate a sustainable investment strategy or outright ESG resolutions, and that number continues to increase. According to Bloomberg, global ESG assets are on track to exceed $53 trillion by 2025.”
Recently, New Energy announced the completion of engineering deliverables for two green hydrogen designs which are ideal for grid-scale blending with natural gas pipelines, blending for existing or new power generating facilities and storage injection into salt caverns and above ground storage tanks.
New Energy’s 50 MW facility design can produce additional incremental 15 megawatts of 100% hydrogen-fueled power generation to support grid-scale energy storage and baseload applications.
Each New EnergyTM GreenER hydrogen facility leverages New Energy’s proprietary design powering a series of electrolyzers to produce green hydrogen and oxygen. The design also provides the flexibility to incrementally expand production and storage capabilities through modular additions.