January 26, 2023 • Paul Rodden • Season: 2023 • Episode: 184
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In episode 184, The maritime industry is jumping into hydrogen. Germany joins H2Med. And Raven SR announces another critical MOU. All this on today's hydrogen podcast.
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The maritime industry is jumping into hydrogen. Germany joins H2Med. And Raven SR announces another critical MOU. All this on today's hydrogen podcast.
So the big questions in the energy industry today are, how is hydrogen the primary driving force behind the evolution of energy? Where is capital being deployed for hydrogen projects globally? And where are the best investment opportunities for early adopters who recognize the importance of hydrogen? I will address the critical issues and give you the information you need to deploy capital. Those are the questions that will unlock the potential of hydrogen and this podcast will give you the answers. My name is Paul Rodden, and welcome to the hydrogen podcast.
In an article in seeking alpha.com Breakwave Advisors writes, the investment in maritime hydrogen is gaining momentum. Developing zero emission maritime shipping Solutions has become a hot topic because it could decarbonize a critical global supply chain input. maritime transport is the most energy efficient way to move commodities and finished goods around the globe when measured by the ton mile, which is moving one tonne of cargo one mile, and shifts account for carrying 85% of all global freight volumes. Now unlike passenger cars, electrification of deep sea shipping is challenged by the energy density limits of battery technology. Energy density measures how much energy a given quantity of material stores, such as battery or a liquid fuel, energy density is not a key factor for decarbonisation, and many uses, such as stationary power generation or passenger vehicles that can replenish their energy after traveling relatively short distances. But for deep sea shipping and aviation energy density is a critical decarbonisation factor. Diesel and jet fuel are particularly attractive energy sources for these modes of transportation because they contain the highest energy to weight ratio of nearly all fuels.
Batteries are an extremely important component of creating environmentally friendly mass produced passenger vehicles. This is possible due to the generally short distances traveled between recharging opportunities. So how is it possible to decarbonize a sector like maritime shipping that can't depend on batteries to store energy, a likely solution is hydrogen and hydrogen derivatives produced using renewable electricity. In a recent report titled net zero by 2050, published by the International Energy Agency, it was projected that maritime shipping will have the highest industrial adoption of hydrogen fuels. Ammonia, a hydrogen derivative, usually thought of as a cleaning product has the potential to become a fuel of the future. Due to its unique properties. Renewable hydrogen can produce ammonia, but as a higher energy density when stored at room temperature. This makes it particularly attractive as a green fuel solution. The Biden Harris administration recently announced its intent to raise $750 million and funding from President Biden's bipartisan infrastructure law to reduce the cost of clean hydrogen technologies. The funding will be necessary to boost investment in hydrogen production and distribution which will need to grow seven fold to support the energy transition goals for 2050.
This according to the World Bank, hydrogen is the leading focus of pilot projects dedicated to developing zero emission technology and infrastructure for deep sea shipping. This according to the global maritime forum, an organization committed to making commercially viable zero emission vessels a scalable reality by 2030. Public and private enterprises worldwide are pursuing these projects across the technology and infrastructure value chains. Alright, so some good insight and good overview about the hydrogen economy when it comes to maritime shipping. Now, a lot of the focus that has come to the hard to decarbonize sectors has really been focused on steel production, but I think that the maritime shipping application of hydrogen carries just as much if not more opportunities than steel manufacturing. And because of that, and because they can also use ammonia for their fuel. I would look at certain companies and track their progress with ammonia. Companies like Linde, Chart industries, New Fortress Energy and Syzygy Plasmonics. Next in an article from D w.com, Germany to join Mediterranean hydrogen pipeline project, the hydrogen pipeline will bring green gas from the Iberian Peninsula to the rest of Europe, France, Portugal and Spain previously agreed to build a pipeline which should be operational by 2030.
Germany will join a new hydrogen pipeline project between Spain, Portugal and France this according to the Franco German Declaration on Sunday's 60th anniversary of the Elysee Treaty. The project called H2Med will connect Portugal and Spain with France and now Germany to supply about 10% of the European Union's hydrogen demand by 2030. Already, the pipeline under the Mediterranean Sea will carry green hydrogen made from water via electrolysis using renewable energy. The Spanish government estimates H2Med will be able to supply some 2 million metric tons of hydrogen annually. It comes as Europe scrambles to reduce dependence on Russian energy and shift from hydrocarbons to cleaner energy. German Chancellor Olaf Scholz and French President Emmanuel Macron said that they were stepping up their investments in the technologies of tomorrow, particularly renewable and low carbon energies. A joint working group between the two countries will make quote, recommendations on their strategic choices regarding hydrogen development. At the end of April of this year, Macron said that after hosting Scholz and Paris, they started to talk about strategy for what they want to do. On an energy point of view.
Scholz noted that, quote, We want hydrogen to be available in large quantities at an affordable price as the gas of the future. Scholz also added that this is a technological advance that we can only achieve together. And we have also agreed closely that we want to achieve this together. The Spanish Prime Minister Pedro Sanchez welcomed the news by posting a message on Twitter saying it quote definitely strengthens its Pan European dimension. He also added it showed support for European energy sovereignty, adding a muscle emoji to his message. Okay, so really the only thing surprising about this news is that it hasn't happened sooner. Germany leads the pack in Europe as being the hungriest for hydrogen and are continuing to make deals with anyone that will sell them hydrogen. But what is also important about this note is that it really strengthens the development of the European hydrogen backbone, which really was the ultimate goal of the H2Med project. Now if you don't know what the h2 med is, it's the collaboration between Spanish TSO Eni Gas, the French TSOs, grt gaz and Terraga in the Portuguese TSO Rin.
Now they've all signed a memorandum of understanding to formalize their commitment on a coordinated basis on the joint development of h2 med. This was following a mandate by the governments of three countries given at the Euro med summit on December 9 of 2022. And the objective of this partnership is to make the infrastructure available by 2030. On the 20th of October of 2022, the president of the government of Spain, the President of the French Republic, and the Prime Minister of Portugal, decided to accelerate the development of the energy interconnections, and to create a green energy corridor connecting Portugal, Spain and France with the EU energy network. They also agreed on the conclusion of a hydrogen interconnection between Portugal and Spain, as well as the development of a maritime pipeline connecting Spain and France in order to transport renewable hydrogen from the Iberian Peninsula to Central Europe. The three leaders ratified this commitment in the Euro med summit again on December 9 of 2022.
The four transmission system operators or TSOs, welcomed the decision very favorably h2 med is a clear example of cooperation and a multilateralism between neighboring countries with a common aim, the decarbonisation of Europe. They've been cooperating since the 20th of October of 2022, to provide advice to their respective governments related to the development of h2 med, Eni gas, grtGaz Terraga and Ren will also jointly submit on Thursday the 15th of December of 22. These projects as candidates to the project of common interest under the new trans European network for energy regulation. And lastly, Raven SR is in the news again, in partnership with H3 Dynamics to collaborate on waste to hydrogen supply for aviation operations. Raven, Sr, renewables fuels company and h3 dynamics, a developer of hydrogen aviation technologies to date January 24, announced their memorandum of understanding to globally collaborate on waste to hydrogen energy systems to support the decarbonisation of airport operations and the adoption of hydrogen at airports. H3 dynamics will provide hydrogen power systems to replace conventional fuel and other energy sources at airports, especially in Asia, Europe and the US. Raven Sr. will provide renewable hydrogen production facilities to supply airports.
The use of hydrogen to power various ground operations will help reduce emissions at airports. And a quote from Matt Murdock, the CEO of Raven, we see tremendous demand to decarbonize the aviation sector with renewable fuels, including on the ground. By collaborating with h3 dynamics, we can reach a broader network among airports and equipment, including a variety of aircraft operations, to install Waste to Energy hubs, where there is an acute need to curb emissions, and a quote from Taras Wankewycz CEO of H3 dynamics Raven SR provides a way to convert a variety of ways feedstocks into clean hydrogen with a process that uses less energy than other renewable hydrogen production. Raven SR ours advanced waste to hydrogen technology offers a less intensive, more sustainable means means of locally producing fuel. h3 dynamics will work with its technology and manufacturing partners to configure hydrogen Power Systems complimentary to meet certification requirements within the airport and aircraft environment. Again, according to Wankewycz, H3 dynamics will deploy decarbonisation use cases that have more immediate impact. So the infrastructure built today can also welcome hydrogen aircraft in the future. Alright, so another huge congratulations to Raven Sr, as they make bigger and bigger strides not only in waste to hydrogen development, but also pushing decarbonisation in the aviation industry.
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