Macquarie and Nobian Partner in Major New Renewable Hydrogen Company

Australian group Macquarie will team up with European chemicals giant Nobian to launch a new green hydrogen business that will aim to decarbonize emissions-intensive industries.

Macquarie has partnered with Nobian to launch the Hydrogen Chemistry Company which will invest in building more than 400 MW of renewable hydrogen production capacity to power production and refineries in aviation, steel and products. chemicals with a zero-emission energy source.

Macquarie’s involvement in the business will be through its subsidiary Green Investment Group, the Europe-based green bank it acquired from the UK government in 2012 and which has driven much of Macquarie’s investments in renewable energy projects across Europe.

The Green Investment Group and Nobian will each take a 50% stake in the new Hydrogen Chemistry Company, with the investment partnership to be finalized in the first quarter of 2022.

The Hydrogen Chemistry Company will develop an initial pipeline of more than 400 MW of electrolyzer projects across Europe, including a 250 MW project in Rotterdam that will replace an existing plant producing hydrogen using fossil fuels .

The company will also develop a 100 MW project near Amsterdam to provide green steel production and a 60 MW facility in the Netherlands to supply renewable hydrogen for the production of methanol and aviation fuel.

While not part of the Hydrogen Chemistry Company’s planned portfolio, the Green Investment Group is also considering a 40MW green hydrogen electrolyser plant in Australia’s Newcastle coal hub, which could supply a market. emerging hydrogen export.

Marcel Galjee, who has been appointed managing director of the new Hydrogen Chemistry Company, said the new company is looking to gain a foothold in a European green hydrogen market which is expected to see up to 40 GW of added electrolyser capacity. ‘by the end of the decade.

“We have a strong technical and commercial team and a healthy pipeline of large green hydrogen projects,” said Galjee.

“The support of these two leading companies allows us to further expand our portfolio to become a leader in the safe and reliable supply of green hydrogen and make a vital contribution to the EU’s goal of achieving 40 GW of ‘hydrogen electrolysers by 2030.’

The head of clean fuels for the Green Investment Group, Kate Vidgen, said growing green hydrogen production would help reduce greenhouse gas emissions in industries that are often seen as “hard to reach” sectors. reduce ”.

“Green hydrogen is vital for reducing emissions in a wide range of industries that are traditionally difficult to decarbonize – from steel and chemicals to shipping and aviation,” said Vidgen.

“We expect the energy transition to accelerate rapidly and are delighted to invest alongside a company with experience in this field, to accelerate its development and help industries become more sustainable. “

Nobian CEO Michael Koenig said the new company would seek to seize both the emission reductions and the economic opportunities created in an emerging green hydrogen market.

“With our advanced and long-standing expertise in large-scale electrochemistry, we are able to invest in an exciting and developing hydrogen market,” said Keonig. “Thanks to this, we will contribute to reducing CO2 emissions and sustainable economic growth, while stimulating the creation of value. “

The new green hydrogen venture coincides with an announcement by Fortescue Future Industries that it will advance plans to convert an ammonia production facility in Brisbane to run on renewable hydrogen, potentially saving the facility from the closing.

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