The South Korean government will support the development and construction of an approximately $15bn hydrogen reduction ironmaking project in Pohang, Fuel Cells Works reports.
The government will take measures to shorten required administrative procedures for steelmaker Posco’s plant by 11 months, and has lifted its financial commitment to the project from $4.4bn to $6.6bn, the item notes.
The developer also entered into an offtake agreement with American Airlines, with financial support from Citi.
The transaction with Bank of America is associated with the Blue Flint Ethanol plant located near Underwood, North Dakota.
The Ontario nickel facility would seek to benefit from carbon capture and storage tax credits as part of the development cost.
The company has retained advisors and is mapping out a plan to build as many as 50 production facilities in North America for a “gigantic” sustainable aviation fuel market.
NanoScent is seeking a new investor to satisfy the contingencies of a combined EUR 8m investment from existing investors and the European Innovation Council.
Avina Clean Hydrogen will need $600m or more of debt and between $200m and $300m of equity. Capital raising talks are focused on the operating company and project level.
