Published by Todd Bush on August 24, 2022
>> In Other News: FLO Installs 100th Charging Station in New York City
The signing follows the two companies’ showcase of their green hydrogen technologies at the August 23, 2022 German-Canadian Atlantic Renewable Hydrogen Expo in Stephenville, Newfoundland, which was attended by Canadian Prime Minister Justin Trudeau and German Chancellor Olaf Scholz. Hydrogen produced with low-to-zero carbon dioxide emissions is widely recognized as essential to achieving net-zero emissions by 2050.
By accelerating the strategic collaboration between ABB and HOI launched in 2020, the two companies are advancing the deployment of economic large-scale green hydrogen production systems to decarbonize hard-to-abate industries that address a wide range of essential needs – energy, metals, cement, utilities, ammonia, fertilizers, and fuels for aircraft, ships, trucks and rail.
The companies will leverage their respective capabilities and resources to rapidly commercialize HOI’s patented RuggedCell™ high-power water electrolysis technology for the world’s largest green hydrogen plants. Water electrolysis is the process of applying electrical energy to split water into hydrogen and oxygen. RuggedCell™ technology converts renewable electricity such as hydro, solar and wind power into green hydrogen for industry.
“We look forward to building on our companies’ two-year working relationship to pursue the enormous global opportunity of green hydrogen,” said Joachim Braun, Division President, ABB Process Industries. “Following a rigorous validation of the RuggedCell™ technology, we are confident that, in combination with ABB’s high-power rectifiers, it can become a category leader in the large-scale green hydrogen segment. Our complementary technologies will strengthen the Hydrogen Optimized value proposition and fast-track the commercialization of the RuggedCell™.”
“This agreement positions us for success in the large-scale segment with customers requiring installations in the hundreds of megawatts to multi-gigawatts,” said Andrew T. B. Stuart, President and CEO of KEY and HOI. “ABB’s global footprint, commercial relationships and technology leadership in high-power rectifiers, distributed control systems and manufacturing automation provide us with the market reach and capabilities to achieve our company’s goals.”
Global electrolyzer capacity will reach an estimated 3,100 gigawatts by 2050, according to a June 2022 report published by DNV. The group forecasts that electricity-based green hydrogen will be the dominant form of hydrogen production by the middle of this century, accounting for 72 percent of output.
The proceeds of ABB’s investment into KEY, led by ABB Technology Ventures (ATV), will be used to advance HOI’s intellectual property development, build up corporate capabilities for increased business activity and introduce automated manufacturing and robotics. This will accelerate the rollout of gigawatt-scale electrolyzer manufacturing.
ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries. www.abb.com
ABB Technology Ventures (ATV) is the venture capital unit of ABB (NYSE: ABB). ATV looks for breakthrough technology companies aligned with ABB’s goal to write the future of industrial digitalization. Since its formation in 2009, ATV has deployed around $250 million into startups spanning a range of sectors including robotics, industrial IoT, AI/machine learning, energy transition, cybersecurity, electric mobility, smart buildings and distributed energy. For more information, visit www.abb.com/ventures.
Key DH Technologies Inc. develops innovation-driven businesses in the deuterium and hydrogen industries, serving global markets. KEY’s three main operating companies are: Hydrogen Optimized, a private hydrogen technology company that develops and commercializes the patented RuggedCell™ water electrolysis systems for the large-scale production of green hydrogen; Isowater®, a leading supplier of deuterium oxide to global customers in the life sciences, advanced technology and environmental science sectors; and deutraMed™, a breakthrough deuterium science and innovation company that provides high-value deuterium-containing products for specialized applications along with IP-driven research and services. For more information, please visit www.keydht.com.
Hydrogen Optimized Inc. is a private hydrogen technology company that develops and commercializes large-scale green hydrogen production systems. It is part of Key DH Technologies Inc. Hydrogen Optimized enables the conversion of green electricity into green hydrogen and the transformation of heavy fossil fuel-use industries into sustainability leaders. Our patented high-power RuggedCell™ water electrolysis system integrates a scalable design that is free of iridium and other expensive platinum group metals, and enables low-cost mass manufacturing. It can be deployed for use in green hydrogen plants in the hundreds of megawatts to multi-gigawatt scale. The solution is targeted to major industrial, chemical, utility and energy end users. For more information on Hydrogen Optimized, please visit www.hydrogenoptimized.com.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🌲 Living Carbon Announces Agreement with Microsoft for 1.4 Million Tonnes of Carbon Removal from Reforestation of Former Mine Lands in Appalachia 🏭 US Energy Expands Carbon Captu...
Inside This Issue 🧬 Occidental's Bold Bet on Carbon Removal: What the Holocene Acquisition Really Means 🌊 Project to Suck Carbon Out of Sea Begins in UK 🧱 NovoMOF Raises $5.4 Million to Scale Up L...
Inside This Issue 🧪 CF Industries Announces Joint Venture with JERA Co., Inc., and Mitsui & Co., Inc., for Production and Offtake of Low-Carbon Ammonia 🪨 Microsoft Signs Large Carbon Removal D...
Perdue AgriBusiness and Eion Ink First-Of-Its-Kind Carbon Removal Deal
Perdue AgriBusiness becomes first company to deploy enhanced rock weathering within its own supply chain—removing 3,500 tons of CO₂ while improving soil health and reducing input costs for farmers ...
US-UK Startups Debut ‘First’ Emissions and Carbon Capture System
STAX Engineering, a California-based company specializing in maritime emissions capture and control, and Seabound, a UK-headquartered onboard carbon capture firm, have demonstrated a ‘first-of-its-...
Next Gen Honda Fuel Cell Module to Make North American Debut at ACT Expo 2025
Next Gen Honda Fuel Cell Module to Make North American Debut at ACT Expo 2025 New fuel cell module will reduce production cost by half, double durability and triple volumetric power density co...
Next Hydrogen Receives $5M Working Capital Debt Financing
MISSISSAUGA, Ontario, April 22, 2025 (GLOBE NEWSWIRE) -- Next Hydrogen Solutions Inc. ("Next Hydrogen" or "Company") "We are grateful for this very meaningful support from EDC to help support our ...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.