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JERA Americas appoints chief commercial officer

JERA Americas has appointed James Tinsley as CCO. He joins from Calpine.

ERA Americas, the Houston-based subsidiary of global energy leader JERA, has appointed James Tinsley as its new Chief Commercial Officer (CCO), according to a news release.

Tinsley joins JERA Americas from his position as vice president, Natural Gas Supply and Trading for Calpine Energy Services.

In his new role, Tinsley will be responsible for all commercial functions for the Company including overseeing commercial development opportunities for existing assets and for future asset portfolios the company may acquire.

“We are glad to have James join us at a critical point in JERA Americas’ growth trajectory. Over the past two years we have scaled up the organization to where we now have a solidly performing core asset portfolio and supporting corporate infrastructure,” said Steven Winn, JERA Americas chief executive officer. “James will spearhead the next phase of growth—expanding our commercial organization’s capabilities in order to optimize our current portfolio and the new assets we intend to build or acquire.”

During his seven years with Calpine, Tinsley led a natural gas supply and trading team of more than 20 people, responsible for natural gas trading, scheduling, and supply for the largest fleet of natural gas power facilities in the United States. He also grew the company’s natural gas commercial activities through the acquisition of new transportation and storage assets in addition to negotiating LNG imports.

Tinsley’s tenure at Calpine built on his leadership roles in the Natural Gas Trading and Supply businesses of Hess Energy Marketing (later acquired by Direct Energy) and helped build the largest commercial/industrial natural gas marketer in the country. He also oversaw development and construction activities of two power projects. Tinsley started his career in natural gas and electricity with Pace Global Energy where he helped large industrial companies manage commodity risk, negotiate contracts and lower energy costs.

“JERA Americas is catalyzing the clean energy transition—bringing clean energy projects such as wind and solar in Texas, hydrogen blending to reduce CO2 emissions at natural gas plants and looking to repurpose existing infrastructure into clean energy centers that will maintain a reliable supply of energy as well as facilitating the integration of new offshore wind farms and battery storage in the northeast,” said Tinsley. “I am looking forward to joining the Company and helping to accelerate the rollout of these technologies.”

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Mitsubishi Hydrogen Infrastructure appoints president and CEO

Michael Ducker has been appointed president and CEO of Mitsubishi Hydrogen Infrastructure.

Michael Ducker has been appointed president and CEO of Mitsubishi Hydrogen Infrastructure.

Ducker was previously senior vice president and head of hydrogen infrastructure at the firm, a post he held since 2022. He has also been chief operating officer of the ACES Delta hydrogen project in Utah since 2020, according to his LinkedIn profile. He joined Mitsubishi in 2012.

Mitsubishi Hydrogen Infrastructure is a wholly owned subsidiary of Mitsubishi Power Americas and a Group Company of Mitsubishi Heavy Industries (MHI), with the aim of providing high-quality solutions and projects to customers and partners as an established business in the clean hydrogen market while simultaneously enabling greater agility to keep pace with a rapidly evolving and dynamic hydrogen market.

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EU innovation fund contributes to two RWE projects

The FUREC project in the Netherlands and an offshore wind farm in Germany are among a total of 17 projects selected by the EU Innovation Fund for the preparation of grant agreements.

German multinational RWE is involved in two hydrogen projects that have been pre-selected for funding by the EU Innovation Fund, according to a press release. The FUREC project in the Netherlands and an offshore wind farm in Germany are among a total of 17 projects selected by the EU Innovation Fund for the preparation of grant agreements.

RWE wants to produce hydrogen for the chemical industry. Household waste from Limburg in the Netherlands is to replace natural gas. The FUREC project includes a plant under construction in Limburg to process household waste into pellets, to then be converted into hydrogen in a separate plant in Limburg’s Chemelot industrial park.

Nordsee Two is majority owned by RWE (51%) and minority by Canadian partner Northland Power (49%). A planned 433 MW wind farm off the German coast is scheduled to start commercial operation in 2026. The partners aim to demonstrate the technical and commercial feasibility of producing hydrogen at sea. An electrolyser is planned to be integrated into the offshore wind farm for the production of green hydrogen for vessel fueling and to supply emergency power to the offshore substation.

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Enedym and Toyota converting diesel tuggers

Enedym and Toyota Tsusho Canada have formed a strategic partnership to convert diesel tuggers to battery or hydrogen power.

Enedym and Toyota Tsusho Canada have formed a strategic partnership to convert diesel tuggers to battery or hydrogen power, according to a press release.

Enedym will design and develop SRMs and inverters with rated nominal power of approximately 45kW for use in North America and Japan. The magnet-free electric motors will convert small commercial vehicles, or tuggers, commonly used at airports and manufacturing plants, from diesel fuel to battery or hydrogen power.

The collaboration’s first output, an electric-powered commercial tugger, will be piloted at one of Toyota Tsusho’s affiliates located at one of Toyota Motor’s North American manufacturing plants in 2023.

Enedym’s innovative SRM motor technologies remove the need for rare earth metals, thereby reducing costs by approximately 40%.

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Green hydrogen developer raising capital for projects

Fusion Fuel, a green hydrogen developer based in Portugal, has engaged an advisor and is in talks with investors to raise capital for projects in North America.

Fusion Fuel, a green hydrogen developer based in Portugal, has engaged an advisor and is in talks with investors to raise capital for projects in North America.

The company is working with RBC Capital Markets as financial advisor, Fusion Fuel Co-Head Zachary Steele said in an interview, and expects to produce infrastructure-type returns on its projects.

For its first project in the U.S., Fusion Fuel has agreed to a JV with Electus Energy to build a 75 MW solar-to-hydrogen facility in Bakersfield, California.

The project will produce up to 9,300 tons of green hydrogen per annum including nighttime operation and require an estimated $180m in capital investment, with a final investment decision expected in early 2024 and commissioning in the first half of 2025.

The combination of green hydrogen and solar production incentives along with California’s low carbon fuel standard make the economics of the project attractive, Steele said.

“Hydrogen is selling for up to $15-$18 per kilogram in California in the mobility market, and we can produce it at around the low $3 per kilogram area, so that leaves a lot of room for us to make a return and reduce costs for customers,” he said.

The company sells electrolyzer technology for projects but also serves as a turnkey developer. The technology consists of Hevo-Solar, which utilizes concentrated solar power to create hydrogen; and Hevo-Chain, a centralized PEM electrolyzer powered by external electricity.

Fusion Fuel’s proposition is that its smaller-scale technology – of 25 kW per unit –  is ready to use now, and can be dropped into places like a gas station in New York City, Steele said.

“This allows customers to scale into hydrogen and makes it available on site, compared with the massive projects going up in Eastern Canada or the Gulf Coast that require customers to commit significant capital to underwrite large scale projects,” he added.

Along with Electus, Fusion Fuel has already entered into a land-lease agreement for 320 acres in Kern County, California for the Bakersfield development. Black & Veatch will perform a concept study while Cornerstone Engineering and Headwaters Solutions are also engaged.

Iberian pipeline

The company targets to have EUR 40m of revenues in 2023, with a third of that coming from tech sales and the balance coming from Fusion Fuel-owned development projects.

Its revenue pipeline for next year is focused on the Iberian peninsula, and has been largely de-risked with the company having secured grants, with land and permitting underway.

In addition to the electrolyzer sales, the company, together with its partners, can provide turnkey projects that include engineering, procurement of the balance of plant equipment, construction of the facility, and operations, Steele said on an investor call this week.

“This allows us to not only make returns on the tech sale but also on the overall project and potentially recurring revenue from operations,” he said.

The company plans to use projects it is building in Portugal to expand into other core markets, beginning with a focus on mobility opportunities and targeted industrial decarbonization projects. Starting in 2024 the company plans to extend its reach further into North America and also Italy.

U.S. focus

Similar to other international hydrogen players, the passage of the Inflation Reduction Act caused a strategic shift of focus to the U.S. and accelerated Fusion Fuel’s plans to grow its business there, company executives said.

Notably, since Fusion Fuel will use its own technology in the projects it is seeking to develop, a required amount of that technology will need to be manufactured in the U.S. in order to qualify for the full benefits provided in the IRA.

As such, Fusion Fuel is scouting for a location to build one, or possibly two, manufacturing facilities in the U.S.

“The size of the Bakersfield project alone justifies building a new manufacturing facility,” Steele said on the investor call.

Steele was previously CEO of Cedar LNG, a floating LNG development in British Columbia, prior to exiting to Pembina. He works alongside Fusion Fuels Co-Head & CFO, Frederico Figueira de Chaves, who is based in Portugal.

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US clean fuels producer prepping equity and debt raises

A Texas-based clean fuels producer is close to mandating an advisor for a platform equity raise. It has already tapped Goldman Sachs to help arrange a cap stack in the billions for a project in Oregon.

NXTClean Fuels, a Houston-based developer of clean fuels projects, is preparing a $50m to $100m platform equity raise in the near term and has large debt and equity needs for a pair of projects in Oregon, CEO Chris Efird said in an interview.

The company is close to engaging a new financial advisor for the raise, which will launch late this year or early next, Efird said.

Port Westward

Meanwhile, Goldman Sachs’ post-carbon group is retained for the capital stack on NXTClean’s flagship project at Port Westward, at the Port of Columbia County, Efird said. The $3bn CapEx (including EPC) project is fully permitted by the State of Oregon and is awaiting one federal Clean Water Act permit. An Environmental Impact Statement is expected this fall.

The project is dedicated to producing a split of renewable diesel and SAF, amounting to roughly 50,000 barrels per day total permitted capacity when fully operational.

FID is expected for roughly August 2024, he said. About 30 months from FID the plant will reach COD.

“What we’re most focused on right now is the true senior debt,” Efird said. On the equity side the company is engaged with strategic partners that have indicated interest in post-FID equity.

NXTClean has conversations ongoing with the Department of Energy’s Loan Programs Office, along with commercial project finance lenders.

Red Rock

In April NXTClean acquired what was the Red Rock Biofuel facility in Lakeview, Oregon. That woody biomass-to-SAF facility foreclosed after $425m in investment, following technical and financial issues brought on by the COVID 19 pandemic. NXTClean purchased the facility for $75m in preferred stock at auction on the courthouse steps.

GLC advisors was retained by lead bondholder Foundation Credit to advise on that process, Efird said.

Red Rock is being repurposed to produce carbon-negative RNG for the adjacent Tallgrass Ruby Pipeline, Efird said. The fully-permitted project has a significant amount of equipment already installed or on skids.

A first phase will require a spend of $100m to $150m. Some $50m of equity will augment a balance of debt, raised in part through USDA programming, Efird said. Cash flow from the first phase will help with the second phase, which will bring the capital needs of the facility up to as much as $400m.

Looking forward

Geographically, NXTClean will expand in the Pacific Northwest and British Columbia, Efird said.

Each of NXTClean’s two projects are held by a separate subsidiary. The company has a third subsidiary called GoLo Biomass that focuses on feedstock aggregation, Efird said. It engages with fish processors in Vietnam and used cooking oil suppliers in South Korea to augment supply from large companies.

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Low-carbon tech company targeting hydrogen at 35 cents per kilogram

A North Carolina net-zero solutions company has plans to raise capital and is scouting for a location in the US Gulf Coast for its first clean hydrogen production facility.

8 Rivers Capital, the North Carolina net zero solutions company and technology commercialization platform, will need to raise capital and is scouting for a location in the US Gulf Coast for its first clean hydrogen production facility, Chief Technology Officer and Co-founder Bill Brown said on the sidelines of CERAWeek in Houston.

Brown declined to elaborate on the capital raise, but said he is well connected to finance from previous roles he held at Goldman Sachs and Morgan Stanley. The company received a $100m investment from South Korea-based SK Group last March.

8 Rivers has technology for power generation, hydrogen production, gas processing, and direct air capture. Through its involvement with affiliate Net Power, 8 Rivers has developed the Allam-Fetvedt Cycle, a power cycle that uses the oxy-combustion of carbon-based fuels and a high-pressure CO2 fluid in a highly recuperated cycle that captures emissions. Net Power was recently acquired in a SPAC deal with Rice Acquisition Corp. II, which valued the company at $1.459bn.

In hydrogen, 8 Rivers has developed 8RH2, a process to make hydrogen from natural gas that produces lower emissions and higher efficiencies, according to its website.

8 Rivers announced in November that it signed an MoU with Japan-based JX Nippon to evaluate the US Gulf Coast for “commercial-scale deployment of 8 Rivers technologies across ammonia and other net-zero projects, including potential projects using CO2-rich natural gas.”

Hydrogen at 35 cents?

Brown isn’t too concerned with the source, or color, of hydrogen. He’s much more concerned with the price per kilo, and says his goal is to make low or zero-carbon-intensity hydrogen without concern for its provenance.

“If we can get hydrogen at 35 cents, you would never build a new power plant, because you’ve got hydrogen cheap enough to use a traditional hydrogen turbine,” Brown said. “I can make the cheapest hydrogen from methane, or coal for that matter. I can’t make it from electricity without subsidy.”

Hydrogen at 35 cents is USD 3 per MMBtu, making it competitive with gas.

“One-dollar hydrogen, to me, is worthless,” he said. “Let’s face it, right now, we have one-dollar hydrogen in the world, not clean, but we have seen the full demand already.”

“8 Rivers does not want to be the company that says ‘here, take my technology,’” Brown said. “8 Rivers wants to be the company that says ‘come to us and we will give you the cheapest hydrogen and we’re agnostic as to where it came from, but we can tell you it’s green.’”

Target markets include customers that are blending hydrogen, Brown said. With USD 50bn of hydrogen assets already deployed in the US, he’s not concerned about offtake.

“It’s the system,” Brown said. “The system is the offtake.”

For ammonia, island nations in transition, commercial shipping and coal replacement all present large potential markets, Brown said. If ammonia can be produced at USD 100 per ton, it will be more competitive than coal as an export fuel.

But Brown is adamant that hydrogen blending in existing infrastructure presents the best and most immediate use for hydrogen.

“All it takes is offtake,” Brown said. “The easiest thing to do with hydrogen is not converting it to ammonia to ship it overseas with some supply contract, the easiest thing to do is put it in a pipeline.”

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