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In December 2021, Proteum Energy and Istmo Energy signed a Memorandum Of Understanding for the production of hydrogen in the Permian Basin.
Per MoU, the companies are to negotiate the terms by which Proteum Energy will provide low-carbon intensity hydrogen to Istmo for the production of “ultra-low sulfur diesel” and clean hydrogen for delivery to offtake customers in the Permian Basin, Mexico and California markets.
Istmo Energy plans to use its onsite de-ethanizers to produce hydrogen from ethane for its hydrotreaters.
The parties were originally planning to begin construction in Q3 2022.