Effective 7-05-2021
New Energy Development Company
New EnergyTM Green Hydrogen Cost Breakthroughs Could Accelerate Market Adaptation
HOUSTON, June 21, 2021 /Newswire/ -- New Energy Development Company LLC (New EnergyTM) today 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 EnergyTM had previously announced will now use the GreenERTM technology, promising 10%-20% reduced capital and operating & maintenance (O&M) expenses of the facilities. The New Energy GreenERTM hydrogen facilities will each produce nearly 24,000 kilograms per day of renewable (“green”) hydrogen.
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"The engineering simplicity of this design has become a reality leveraging from many years of experience in modular and expandable LNG systems," said Thomas Quine, Technical Partner at New EnergyTM.
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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 company value by increasing 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.”
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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.
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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.
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About New Energy Development Company LLC
New Energy Development Company LLC provides sustainability assessment and prioritization, project development, full EPC wrap and co-investment capital for long term legacy natural gas clients. The New Energy provides green hydrogen technology and applications, sustainable LNG facilities, and pipeline & process energy recovery solutions. To learn more, visit www.newenergydev.com.
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New Energy Contacts:
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Tom Quine
Technology Partner
New Energy Development Company
+1 978 208 1586
tquine@newenergydev.com
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Scott M Shields
Partner
New Energy Development Company LLC
+1 832 876 9903
sshields@newenergydev.com
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New EnergyTM Press and Articles:
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