JERA Americas Makes Investment In Hydrogenious LOHC Technologies
JERA Americas Inc. the US-based subsidiary of global energy leader JERA Co., Inc., has entered into an investment agreement and shareholders’ agreement to invest €15M in Hydrogenious LOHC Technologies GmbH (Hydrogenious LOHC). This investment round was led by JERA Americas with Temasek, Chevron Technology Ventures, and Pavilion Capital as additional investors.
JERA Americas delivers innovative energy solutions to customers through a diversified portfolio of low carbon technologies, renewable generation, fuel, and gas-fired generation, as well as investing in energy technologies.
JERA Americas has the objective of achieving zero carbon emissions by 2050. JERA Americas believes that a key component of this will be the development of low carbon fuels such as hydrogen. Because hydrogen does not emit CO2 when combusted, it is expected to be used as a next-generation fuel for thermal power stations replacing fossil fuels.
“We are moving forward on all fronts to reach net zero CO2 emissions by 2050,” said Steven C. Winn, Chief Executive Officer of JERA Americas. “Our investment in Hydrogenious LOHC is another important step in the development of the low carbon fuel value chain.”
Hydrogenious LOHC is headquartered in Erlangen, Germany. Founded in 2013, it has grown to a market-leading pioneer for Liquid Organic Hydrogen Carrier (LOHC). The basic concept is to bind the gaseous hydrogen chemically to the LOHC by hydrogenation. Hydrogenious LOHC uses benzyltoluene as carrier medium, a thermal oil – which provides added safety during transportation. Likewise, the release of the hydrogen from the oil takes place by dehydrogenation. With its proprietary technology and industrial-scaled plants, Hydrogenious LOHC enables flexible, safe, easy and efficient transportation and storage of hydrogen in conventional fuel infrastructure – all within ambient conditions.
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The world’s largest LOHC plant is being built by Hydrogenious LOHC in Dormagen, Germany, with commissioning scheduled in 2023. Carriers such as the kind produced by Hydrogenious LOHC are an essential part of making low carbon fuel available to these facilities, and allowing for the production of large-scale, zero carbon reliable energy.
By investing in Hydrogenious LOHC, JERA Americas will strive to acquire knowledge of LOHC technology, a potential game changer as a hydrogen energy carrier, and will support development of LOHC plants in Europe, North America, Asia etc., thereby contributing to establishing hydrogen supply chains globally.
Last month, JERA Americas announced plans to employ hydrogen as a fuel in two power generation facilities in which it has an ownership interest, Linden Cogeneration and Cricket Valley Energy Center.
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