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Equatic releases whitepaper on carbon dioxide removal

A fledgling company with a relationship with Boeing is marketing a process for seawater electrolysis to capture and store CO2 while producing hydrogen.

Carbon removal company Equatic has developed a process that relies on seawater electrolysis to capture and store CO2 while producing clean hydrogen, according to a news release.

A white paper written with consultation from EcoEngineers outlines Equatic’s approach to quantifying and verifying the carbon removal process.

Equatic operates two pilots in Los Angeles and Singapore. The company sells carbon removal credits and recently announced a pre-purchase option agreement with Boeing.

Under that agreement, Equatic will remove 62,000 metric tons of carbon dioxide and will deliver 2,100 metric tons of carbon-negative hydrogen to Boeing.

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CPP Investments to invest in green molecule developer

Toronto-based CPP Investments will invest an initial EUR 130m into Power2X, focused on the development of green hydrogen, methanol, and ammonia.

Canada Pension Plan Investment Board (CPP Investments) and hydrogen project developer Power2X today announced a long-term investment partnership aimed at advancing Amsterdam-based Power2X’s leading role in the global clean energy transition, according to a news release.

The partnership plans to invest an initial €130m to accelerate the growth of Power2X as a development platform and fund green molecule projects. The investment supports Power2X’s mission to become a long-term developer, owner, and operator of next-generation energy assets with a focus on green hydrogen and other clean molecules such as green methanol and ammonia.

Bruce Hogg, managing director, head of sustainable energies, CPP Investments, said: “Investing in Power2X is fully aligned with our ambition to play a leading role in the energy transition. The need for industrial decarbonization is increasing rapidly, and green molecules have a vital role to play in meeting these demands, whether to create alternative fuels, hydrogen, or renewable feedstocks such as green ammonia. With Power2X’s development capabilities and CPP Investments’ flexible capital and sustainable energies expertise, this partnership enables us to invest in next-generation energy assets at an industrial scale with long-term business partners.”

Power2X develops large-scale new energy assets and infrastructure focusing on decarbonizing industrial value chains and heavy transport in collaboration with industrial companies around the world. The company is focused on clean hydrogen, ammonia, and methanol, with a diverse portfolio of projects that are initially prioritising European demand. Under the terms of the deal, CPP Investments will acquire a majority interest in Power2X.

Occo Roelofsen, CEO, Power2X, said: “In 2020, we founded Power2X to have a lasting impact on world’s energy transition, by focusing on green and clean molecules. Working with CPP Investments will enable us to accelerate our ambition to become a leader in green molecules, and, in doing so, continue on our journey as a long-term and serious player in this critical arena of global sustainability. Announcing this partnership with CPP Investments today shows how far our team have come in a very short time. We are actively participating in hydrogen projects, such as ErasmoPower2X, a €1bn solar and hydrogen plant, and MadoquaPower2X, a €1bn industrial-scale hydrogen and green ammonia project.”

The term “green molecules” refers to the application of green hydrogen and its derivatives, including green ammonia and green methanol, to decarbonize non-power, hard-to-abate industrial activities. Notably, these green molecules can act as direct replacements for process feedstocks or transportation and heating fuels.

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Gas separations provider raises $11m seed round

An industrial separations technology company that purifies gases has raised an oversubscribed VC round in addition to funding from the DOE.

Osmoses, an industrial separations technology company that purifies gases, has raised an oversubscribed $11m seed round led by Energy Capital Ventures, according to a news release.

Additional participating investors include Engine Ventures, Fine Structure Ventures, New Climate Ventures, Collaborative Fund, Little Green Bamboo, BlindSpot Ventures and several prominent angel investors, including Martin Madaus, the former CEO of Millipore Corporation.

In addition to its venture capital funding, Osmoses recently received a $1.5m grant from the US Department of Energy (DOE), as well as additional grant support from ARPA-E and NSF, among other organizations.

Osmoses will use the funding to develop commercial scale membrane modules for field deployment and establish pilot partnerships.

“In the coming months, Osmoses will double its full-time employee headcount, increase its pilot programs with chemical and petrochemical companies, utilities, and alternative energy companies, and develop partnerships with engineering and manufacturing firms,” the release states.

Gas molecules like hydrogen, biomethane, and oxygen are essential ingredients for alternative, low-carbon energy production, the release states. Because these gases don’t naturally occur in a form pure enough for direct use, they must first be separated, but their size and volatility makes doing so energy-intense, and expensive.

Today’s industrial separation processes, including cryogenic processes, distillation, and solvent absorption, account for 15% of the world’s energy consumption, the release states. CO2 emissions from energy combustion and industrial processes accounted for 89% of energy-related greenhouse gas emissions in 2022.

“Membrane technology, which operates as molecular filters to separate gas molecules from one another, has the potential to reduce energy consumption, but widespread implementation remains limited due to product loss and high operating costs,” the release states. Osmoses has developed a patented novel membrane technology that purifies gas molecules with unprecedented flux and selectivity, meaning lower capital requirements and operating costs for customers, with a significantly smaller physical footprint than today’s traditional separation processes – all while reducing industrial energy consumption by up to 90%.”

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Hydrofuel Canada issued US patents for micro ammonia production

Hydrofuel says its technology can significantly reduce the overall cost of green ammonia and the hydrogen in it to 50% of the cost of hydrogen produced via current electrolysis technologies.

Hydrofuel Canada Inc. has been issued US Patent 11,885,029 “Systems and Methods for Forming Nitrogen-Based Compounds” and has completed of their Micro Ammonia Production System (MAPS 1.0) commercial prototype, enabling high-yield, sustainable ammonia synthesis from air and water with unprecedented efficiency using a gas-phase electrochemical process.

The MAPS 1.0 and 2.0 technologies significantly reduce the costs and energy requirement of making ammonia (NH3) compared to traditional methods, according to a news release. Multiple 381 ton per year units can be combined to operate in series or parallel to increase capacity.

The US$700,000 MAPS 1.0 version uses externally produced hydrogen (H2) to synthesize with nitrogen from air to make ammonia.

The US$850,000 MAPS 2.0 system represents a major breakthrough in the production of green hydrogen and ammonia, as it addresses one of the biggest challenges in hydrogen production – the high cost of electrolysis. By combining hydrogen and nitrogen production in a single unit, MAPS 2.0 eliminates the need for separate production processes, significantly reducing the overall cost of green ammonia and the hydrogen in it to 50% of the cost of hydrogen produced via current electrolysis technologies. All Capex and Opex costs quoted exclude any government incentives or tax credits.

Hydrofuel’s MAPS 2.0 Opex, Capex, Customer Deposit (CNW Group/Hydrofuel Canada Inc.)

“We are thrilled to announce the issuance of our US patent for MAPS 1.0 and the completion of our commercial prototype” said Greg Vezina, Chairman and CEO of Hydrofuel Canada. “This is a major milestone and a significant step towards making clean energy and fertilizer more affordable and accessible with MAPS 1.0 units expected to be available by the spring of 2025. With MAPS 2.0 expected to be released in the summer of 2025, customers will be able to produce and store green hydrogen in ammonia at a fraction of the cost, making it a game-changer in the clean energy and fertilizer industries. We will soon announce details of our pre-order campaign that will enable customers to place a small deposit on one of our MAPS units for early delivery.”

The company is currently in talks with potential partners and investors to bring MAPS 1.0 and 2.0 to the market and make a significant impact in the clean energy and fertilizer sectors. With the US patent and commercial prototype completed, Hydrofuel Canada is one step closer to achieving their goal of making green energy and chemicals more affordable and accessible for all.

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Exclusive: Mississippi green hydrogen developer assembling banks for debt raise

The developer of a potentially massive network of green hydrogen production, transport and salt cavern storage — estimated to cost billions — is seeking banks to support a project debt raise.

Hy Stor, the developer of hydrogen generation and salt cavern storage, is currently raising “billions” in project finance for the first phase of its home state hub in Mississippi, Chief Commercial Officer Claire Behar said in an interview.

The first phase is expected to enter commercial service in 2026, guided by customers, Behar said.

Connor Clark & Lunn are equity partners in the Mississippi hub and is helping Hy Stor with its debt raise. Hy Stor is working with King & Spalding as legal advisor.

“We are already seeking banks and lining up our needed debt,” Behar said. She declined to say a precise amount the company will raise but said it will be in the billions.

Hy Stor plans to soon announce their renewable development partner to build dedicated off grid renewables, Behar said. The same is true for offtake in non-intermittent 24-hour industries like steel, plastic and fertilizer manufacturing.

“The customers are willing to pay that twenty-to-thirty percent premium that the market would need,” Behar said. “The business case is there.”

When asked if traditionally carbon intensive industrial manufacturing interests were actively seeking to co-locate with Hy Stor in Mississippi, Behar said the company has been advancing those agreements and hopes to have announcements soon. 
There is evidence of this type of activity in the state. Recently American steel manufacturer Steel Dynamics announced Columbus, Mississippi as the location of its upcoming aluminum flat rolled millwith a focus on decarbonization. Job postings for engineering roles at a separate facility detail plans to convert biomass into a direct carbon replacement suitable for steelmaking. 

Hy Stor hopes to have announcements in the coming weeks about a co-location opportunity, she added. Both domestic and international strategics are interested in the geology offering co-located salt cavern storage and geography offering river and deepwater port logistics networks, as well as highway and rail corridors.

Off-grid renewable generation means the company is not at the mercy of transmission interconnection queues. It also offers reliability because the lack of grid adage helps guarantee performance, and affordability because the company doesn’t have to pay utility rates, Behar said. Additionally, the electricity is decoupled from the grid and therefore absolutely decoupled from fossil fuels, which is important to Hy Stor’s prospective offtakers.

“This is what customers are demanding,” Behar said, adding that first movers are highly dedicated to decarbonization, needing quantitative accounting for all scope emissions, driven often by pressure from their customers.

The company has received a permit to take 11,000 gallons per minute of unpotable water from the Leaf River in Mississippi, Behar said, and is also looking at in-house wastewater treatment and water recycling.

Don’t go after gray users

Behar said the concept that users of gray hydrogen are the first targets for green hydrogen developers is misguided.

“The refineries, the petrochemicals, for them hydrogen is an end product already used within their system,” Behar said. “Those are not going to be the first users that are going to pay us a premium for that zero carbon.”

Hy Stor is instead focusing on new greenfield facilities that can co-locate.

“We’ve purposefully outsized our acreage,” she said of the 70,000 acres the company has purchased outside of Jackson, Mississippi, the Mississippi River Corridor, and the state’s southern deepwater ports in Gulfport and Port Bienville. New industrial projects can co-locate and have direct access to the salt cavern storge.

Looking forward the company’s acreage and seven salt domes mean they are not constrained by storage, Behar said. At each location, the company can develop tens and hundreds of caverns.

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Storage solutions firm in the market for strategic capital

An early-stage provider of hydrogen storage technology has hired a UK-based financial advisor to raise capital for a pilot plant.

Hydrogen carrier technology firm H2Fuel is seeking to raise approximately $25m to build a pilot project, according to sources familiar with the company’s plans.

The Dutch-based company has mandated a UK-based financial advisor to engage potential investors, with capital needs in the $12.5m range of a $25m project cost, the sources added.

In an interview, H2Fuel CEO Peter Huisman said the firm is “location agnostic” in looking for a site for a pilot project, but would prefer the US. Europe and India are also possibilities.

“We are early stage, in our view,” Huisman said. “[An investor will] need to have a long-term view of the market.”

Huisman declined to say which bank his company has hired but referred to it as a “top five” institution.

H2Fuel’s process combines hydrogen to salt, forming an energy-dense solid compound that can be transported and stored in dry conditions without complex requirements. A patented energy release process requires no extra energy, Huisman said.

The company has talked with some large strategics but has been told they are too early, Huisman said. The company views the near-term capital opportunities as one for pension funds or a venture capital.

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Exclusive: Geologic hydrogen startup raising Series A

A US geologic hydrogen startup that employs electric fracking with a pilot presence on the Arabian Peninsula is raising a $40m Series A and has identified a region in the midwestern US for its first de-risked project.

Eden GeoPower, a Boston-based geologic hydrogen technology provider, is engaged in raising a Series A and has a timeline on developing a project in Minnesota, CEO and co-founder Paris Smalls told ReSource.

The Series A target is $40m, with $10m being supplied by existing investors, Smalls said. This round, the company is looking for stronger financial investors to join its strategic backers.

The company has two subsidiaries wholly owned by the parent: one oil and gas-focused and one climate-focused. The Series A is topco equity at the parent level.

Eden was one of 16 US Department of Energy-selected projects to receive funding to explore geologic hydrogen; the majority of the others are academic lab projects. Eden has raised some $13m in equity and $12m in grant funding to date.

Beyond geothermal

Eden started as a geothermal resource developer, using abandoned oil and gas wells for production via electric fracking.

“We started seeing there were applications way beyond geothermal,” Smalls said. Early grant providers recommended using the electric fracking technology to go after geologic hydrogen reservoirs, replacing the less environmentally friendly hydraulic fracking process typically used.

A test site in Oman, where exposed iron-rich rock makes the country a potential future geologic hydrogen superpower, will de-risk Eden’s technology, Smalls said. Last year the US DOE convened the first Bilateral Engagement on Geologic Hydrogen in Oman.

Early developments are underway on a demonstration project in Tamarack, Minnesota, Smalls said. That location has the hollow-vein rocks that can produce geologic hydrogen.

“We likely won’t do anything there until after we have sufficiently de-risked the technology in Oman, and that should be happening in the next 8 months,” Smalls said. “There’s a good chance we’ll be the first people in the world to demonstrate this.”

Eden is not going after natural geologic hydrogen, but rather stimulating reactions to change the reservoir properties to make hydrogen underground, Small said.

The University of Minnesota is working with Eden on a carbon mineralization project, Smalls said. The company is also engaged with Minnesota-based mining company Talon Metals.

Revenue from mining, oil and gas

Eden has existing revenue streams from oil and gas customers in Texas and abroad, Smalls said, and has an office in Houston with an expanding team.

“People are paying us to go and stimulate a reservoir,” he said. “We’re using those opportunities to help us de-rick the technology.”

The technology has applications in geothermal development and mining, Smalls said. Those contracts have been paying for equipment.

Mining operations often include or are adjacent to rock that can be used to produce geologic hydrogen, thereby decarbonizing mining operations using both geothermal energy and geologic hydrogen, Smalls said.

“On our cap table right now we have one of the largest mining companies in the world, Anglo American,” Smalls said. “We do projects with BHP and other big mining companies as well; we see a lot of potential overlap with the mining industry because they are right on top of these rocks.

Anti-fracking

Eden is currently going through the process of permitting for a mining project in Idaho, in collaboration with Idaho National Labs, Smalls said.

In doing so the company had to submit a public letter explaining the project and addressing environmental concerns.

“We’re employing a new technology that can mitigate all the issues [typically associated with fracking],” Small said.

With electric fracturing of rocks, there is no groundwater contamination or high-pressure water injection that cause the kind of seismic and water quality issues that anger people.

“This isn’t fracking, this is anti-fracking,” Smalls said.
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