JV eyes opportunities for marine market hydrogen projects

Jon Erik Engeset, President and CEO of Hexagon Composites ASA: "We have received numerous requests, ranging from governmental organizations to maritime transportation"

APRIL 21, 2017 — A new joint venture company for the development of integrated hydrogen projects will initially focus on opportunities in the maritime and marine segments as well as projects to capture stranded renewable energy.

The three companies involved in the equally owned JV are PowerCell Sweden AB and Norway’s Hexagon Composites ASA and Nel ASA.

PowerCell Sweden AB, which describes itself as “the leading fuel cell company in the Nordics has developed a modular system of fuel cell platforms, powered by clean environmentally friendly produced hydrogen where only electricity, heat and water are emissions. The fuel cells are also designed to handle the reformed hydrogen from biogas, natural gas, biodiesel or standard diesel. Where hydrogen infrastructure is missing, PowerCell has combined its fuel cell and reformer technology and developed a fuel cell system, PowerPac, that converts standard diesel, with hydrogen, into electricity.

Hexagon Composites ASA is a market leader for storage and transport of gases under high pressure, while Nel is a global, dedicated hydrogen company, delivering solutions to produce, store and distribute hydrogen from renewable energy.

The new JV will create a one-stop-shop for customers wanting to utilize hydrogen technologies across the value chain from renewable hydrogen production to storage, distribution and dispensing, as well as generating electricity via fuel cells. It aims to manage and develop the projects to ensure that technologies from the partners are effectively integrated into complete and optimal solutions for the customers.

“Since we announced the intention to join forces, we have received numerous requests, ranging from governmental organizations to maritime transportation. We see significant opportunities for the joint venture and believe it is well positioned to deliver unique customer value,” says Jon Erik Engeset, President and CEO of Hexagon Composites ASA. “The collaboration with these strong market leaders is a logical step in shaping the emerging market for zero-emission power solutions.”