Resource logo with tagline

Air Products building $500m New York liquid production plant

The investment would support a 35 metric ton per day facility to produce green liquid hydrogen at a greenfield site in Massena, New York.

Air Products plans to invest approximately $500m to build, own and operate a 35 metric ton per day facility to produce green liquid hydrogen at a greenfield site in Massena, New York, as well as liquid hydrogen distribution and dispensing operations, according to a news release.

Commercial operation is targeted in 2026 or 2027.

In support of this project, the New York Power Authority (NYPA) board approved in July 94 MW of low-cost St. Lawrence hydroelectric power to Air Products.

Further to this proposed facility announcement, Pennsylvania-based Air Products is also investigating the feasibility of establishing a hydrogen fueling station network in the United States’ northeast region, including the ability to serve Air Products’ truck fleet. Air Products has announced plans to convert its global fleet of approximately 2,000 trucks to hydrogen fuel cell zero-emission vehicles.

The liquid hydrogen product from the facility is expected to be sold to the mobility market in New York State as well as other potential northeast industrial markets.

Unlock this article

The content you are trying to view is exclusive to our subscribers.
To unlock this article:

You might also like...

Tree Energy Solutions and EWE building electrolyzer in Wilhelmshaven

The electrolzser, to be installed and operated starting in 2028, has a planned total capacity of 1 GW at the hub on the North Sea coast.

Tree Energy Solutions and German utility EWE are signing an MoU to build an electrolyzer in TES’ Green Energy Hub in Wilhelmshaven, Germany, according to a press release.

The electrolzser, to be installed and operated starting in 2028, has a planned total capacity of 1 GW.

The hub in Wilhelmshaven is on the North Sea coast and can accommodate up to 2 GW capacity electrolyzers with renewable energy sources such as offshore wind.

In October Tree Energy Solutions agreed to terms for Fortescue Future industries to make an equity investment of EUR 30m to become a strategic shareholder in TES, and to invest EUR 100m for a stake in the construction of the import terminal in Wilhelmshaven. Before that the Belgium-based company concluded its second fundraising round at EUR 65m.

Read More »

Sumitomo eyeing stake in Calgary carbon capture project

Sumitomo has been granted the right to acquire an equity interest in the East Calgary Carbon Transportation & Sequestration Project.

Reconciliation Energy Transition Inc. and Sumitomo Corporation of Americas, a subsidiary of Sumitomo Corporation, have entered into an agreement whereby RETI has granted Sumitomo the exclusive right to acquire a significant equity interest in the East Calgary Carbon Transportation & Sequestration Project.

The CTS Hub is a proposed CO2 transportation and sequestration development project that is expected to involve constructing compression capacity, a COpipeline network, and injection and monitoring wells to support permanent sequestration of CO2 in deep saline aquifers at a location east of Calgary, according to a news release.

The project has an estimated first phase targeted CO2 storage volume of 3.0 million tonnes per annum.

“We are pleased to welcome Sumitomo to our East Calgary CTS Hub. They are one of the world’s leading trading and business investment companies and we are excited to work with their dedicated CCUS team. This partnership, with our commitment to Indigenous ownership, is a pivotal step to bring the CTS project to fruition.” said Stephen Mason, Chairman & CEO of RETI.

“We are delighted to partner with RETI and its commitment to meaningful Indigenous ownership on the development of the CTS Hub. The mitigation of climate change is one of our key areas of focus and we recognize that CCUS is a key technology in that battle,” said Shinichi “Sandro” Hasegawa, General Manager of Energy Innovation Initiative Americas at Sumitomo Corporation of Americas.

Read More »

Linde staying out of large-scale green hydrogen – for now

Linde will focus in the near term on developing blue hydrogen projects, where there is more certainty around cost and reliability compared to green hydrogen.

Sanjiv Lamba, the CEO of global chemical company Linde, today re-emphasized his view that green hydrogen still has a roughly five to seven year runway to reach maturity for large-scale projects, noting that his company sees more near-term opportunity in blue hydrogen projects.

“We expect future US onsite clean hydrogen projects to primarily leverage 45Q credits” for carbon capture and sequestration, “since we have not yet identified any large onsite green hydrogen projects that meet our investment criteria,” the executive said. 

“I expect to see small and mid-size green hydrogen projects primarily serve merchant-type demand,” Lamba added this morning on his company’s 4Q23 earnings call.

Linde included a slide in its earnings presentation noting that the nascent green hydrogen market lacks scale, underscoring that electrolyzers are unproven at gigawatt scale and have a high overall cost.

Linde 4Q23 earnings presentation

In contrast, most large pipeline opportunities are in blue hydrogen, and this remains the preferred option for Linde, given its low technical risk, lowest overall cost, and reliability, the presentation notes.

Electrolyzers need to gain reliability and the ability to operate 24/7 for onsite projects with a large demand pool, he said. Additionally, capital efficiency on electrolyzers needs to improve dramatically, “to make sure we’re at a point where that becomes cost effective.”

Lamba reiterated that he believes electrolyzer technology needs another five to seven years to scale up to achieve reliability and cost effectiveness for large-scale inflection to green hydrogen.

“I do expect small and medium-sized electrolyzer complexes to be built, and they will largely serve what we call merchant-type demand, where you have a bit of flex in terms of how much product is available, how much product is provided…”

In the meantime, Linde is developing its liquid hydrogen capabilities to support the smaller-scale green hydrogen projects it expects will be developed in the near term, he said.

Read More »
exclusive

California renewables developer taps advisor for capital raise

Utility-scale solar and storage developer RAI Energy has tapped an advisor for a capital raise. The company is evaluating co-development conversion for green ammonia production at projects in Arizona and California.

RAI Energy, the utility-scale solar and storage developer, has hired an advisor as it pursues a capital raise.

The company is working with Keybanc Capital Markets in a process to raise up to $25m, according to two sources familiar with the matter.

In an interview, RAI Energy CEO and owner Mohammed S. Alrai said the company “is excited about having [Keybanc] act as our financial advisors on this fundraising round.” He noted that RAI is first a solar-plus-storage developer and is approaching investors as such.

However, RAI is evaluating co-development conversion for green ammonia production at two of its project sites in Arizona and California, he said.

“Hydrogen is a natural next step,” Alrai said of his company, adding that the end-product would be green ammonia for use in fertilizer production and industrial sectors. Pure hydrogen could also be kept for use in transportation.

A variety of partnerships would be required to develop hydrogen at RAI’s solar sites, Alrai said. The company could need advisory services to structure those partnerships.

RAI is working with engineers on the hydrogen question now and is open to additional technology and finance advisory relationships, he said. The company is also evaluating several electrolyzer manufacturers.

“It’s an open book for us right now,” Alrai said of hydrogen production. “We’re always open to talking to people who can help us.”

For hydrogen project development, RAI would seek project level debt and equity similar to its solar developments, Alrai said. Early-stage project sites in Colorado and New Mexico could also be candidates for hydrogen co-development.

Keybanc delined to comment for this story.

Read More »

Exclusive: Residential microgrid developer to seek electrolysis partner, raise capital

A developer of planned microgrid communities will look for an electrolysis partner to provide green hydrogen for use in agricultural applications and is planning to go to market for platform equity and project debt.

Embark Fund and NOVA Constructors, a group of real estate development interests focused on developing three planned residential communities, will look for an electrolysis partner for its community microgrid development efforts, managing partner Craig McBurney said in an interview.

McBurney, who is also solar development manager for the South Carolina-based renewables developer Alder Energy, said the partners are in the process of acquiring land – between 1,500 and 2,000 acres per parcel – in Virginia, Maryland and Illinois. The latter project is the most advanced.

Each is for a planned residential community including microgrid development, he said. The communities will include renewables, which could be used to power electrolysis during times of low demand. He gave the example of a 30 MW solar ground array.  

“We are preparing to announce a [$60m to $80m] equity raise,” McBurney said, adding that between $240m and $300m of debt will also be required. The money will be used for site acquisition, development and EPC. “The whole capital stack is an opportunity.”  

The group has not formally engaged with an investment bank or financial advisor, he said. They will be targeting private equity, sovereign wealth funds, and family offices.

McBurney pointed to communities like Whisper Valley in Texas and Babcock Ranch in Florida as examples of his group’s efforts to develop sustainable off-grid communities.

Read More »
exclusive

Hydra Energy raising equity and debt capital for hydrogen refueling infrastructure

The hydrogen-as-a-service provider for commercial trucking fleets is pursuing an equity raise that will unlock a debt facility for scaling up hydrogen refueling infrastructure in Western Canada.

Hydra Energy, a hydrogen-as-a-service provider for commercial trucking fleets, is in the midst of a CAD 14m equity capital raise.

The Vancouver-based company is pursuing the equity raise in support of its Prince George hydrogen fueling station, which is set to be operational in 2024 and would be the largest in the world, Hydra CEO Jessica Verhagan.

The equity portion of the financing is needed to unlock an additional CAD 150m debt facility to complete initial scale-up of the company’s planned hydrogen corridor along Highway 16 in Western Canada, Verhagan added.

Verhagan said the company is not working with a financial advisor on the capital raise but could issue RFPs for advisory services in the future. She declined to name the provider of the proposed debt facility, apart from clarifying that it was not government-sponsored.

“To date, Hydra has been signing up commercial fleets and building out its initial hydrogen refuelling infrastructure throughout Western Canada, but the company is about to announce expansion throughout the rest of the country via licensing to a national fossil fuel distributor looking to extend its low-carbon alternative fuel offerings,” the executive said via email.

Hydra’s target market to date has been the roughly 5 million Class 8 trucks within North America, Verhagan said, with the company aiming to “conservatively” capture 1% of that market by 2030 through commercial discussions already underway. Hydra is also exploring expansion into the UK as well as Europe, Australia, and the Middle East.

“Hydra’s initial focus has been on proving out its Hydrogen-as-a-ServiceTM (HaaSTM) template which includes the company providing its proprietary hydrogen-diesel, co-combustion conversion kits to commercial fleets at zero cost (in exchange for long-term hydrogen fuel contracts at diesel equivalent prices) as well as an initial hydrogen refuelling station to service 65 Hydra- converted trucks in Prince George, B.C.,” she said.

Verhagan said the company will announce its first electrolysis partner for the Prince George hydrogen refueling station early next year. The station will be able to refuel – as quickly as diesel – up to 24 Hydra-converted trucks each hour across four bays. The station will provide hydrogen from two onsite, 5 MW electrolyzers powered with electricity from BC Hydro.

“The adoption of Hydra’s technology really comes down to availability of low carbon hydrogen – showing fleets it’s possible to go green cost-effectively – and government support to utilize hydrogen to reduce trucking emissions right now,” Verhagan said.

Read More »

Welcome Back

Get Started

Sign up for a free 15-day trial and get the latest clean fuels news in your inbox.