Severstal announced that it will invest in Ekona Power Inc., a Canadian developer of hydrogen production technology, at the expense of American Baker Hughes.
Ekona Power has developed a new hydrogen production technology by methane pyrolysis, which converts natural gas into hydrogen and solid carbon, resulting in a significant reduction in carbon emissions while lowering production costs.
The company received a US$79 million equity investment to commercialize clean hydrogen technology with the support of investors such as Severstal, Japan's Mitsui and ConocoPhillips, and others. A fully commercial hydrogen plant can produce up to 100,000 tons of hydrogen per year at prices below $1.50 per kilogram.
Ekona Power's innovative technologies are helping not only Severstal, but the entire steel industry, to meet the challenge of reducing carbon emissions.
Severstal invests in new low-carbon hydrogen technology
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Azovpromstal® 9 February 2022 г. 13:49 |
