New York-headquartered H2-Industries announced on Monday that it had received preliminary approval from the General Authority for Suez Canal Economic Zone (SCZone) to develop a waste to hydrogen plant at East Port-Said. H2-Industries said in a press statement that hydrogen plant, the first of its kind in the world, would process 4 million tonnes of organic waste and non-recyclable plastic per year to produce 300,000 tonnes of green hydrogen annually. According to the statement, the green hydrogen produced can be transported as a 'carrier fluid' [Liquid Organic Hydrogen Carrier] by filling it in storage tanks. The hydrogen can then be economically extracted and converted to electrical energy. The statement said the hydrogen would be produced at half the levelised cost of current green hydrogen production technologies, taking the cost even lower than current levels for low-carbon and grey hydrogen production. The project aims to develop a 1-gigawatt LOHC Hydrogen Hub in East Port Said, the statement noted. Executive Chairman of H2-Industries, Michael Stusch, said: "This is an exciting opportunity and one that will take the tonnes of waste that collects in Egypt and turn it into green hydrogen. The Waste-to-Hydrogen plant is a breakthrough in making green hydrogen economically viable, helping reduce not only global CO2 emissions but also reducing the pollution and impairment of water resources in the country." The statement didn't disclose the project timelines or its value. In November 2021, Zawya Projects reported that a consortium led by Fertiglobe, an OCI NV-ADNOC joint venture, selected New York-based Plug Power as the technology provider for a green hydrogen project Ain Sokhna, Egypt. (Writing by SA Kader; Editing by Anoop Menon) (anoop.menon@lseg.com) Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here. © ZAWYA 2022
