Aker Group, a Norwegian holding company engaged in fishing, construction and engineering, listed on Oslo Stock Exchange, launched the renewable initiative Aker Horizons just over six months ago. Less than three weeks after Aker Horizons itself went public, the company will list a new subsidiary, Aker Clean Hydrogen, the company announced to the exchange.
According to the announcement, Aker Clean Hydrogen will develop, build, own, and operate clean hydrogen production at scale, leveraging domain expertise from across the Aker group. Aker Clean Hydrogen begins its life with a portfolio of nine existing projects, and prospects with total net capacity of 1.3 GW in development, and aims to reach a net installed capacity of 5.0 GW and to remove more than 9 million tonnes of CO2 per year by 2030.
The news comes the day after the company, together with Yara and Statkraft, announced a collaboration on the value chain for green hydrogen and ammonia, starting with electrification of the ammonia factory on Herøya, and a similarly bold presentation from Nel, which also shares a vision for hydrogen at $1.5/kg – the price at which it is expected to be competitive. See yesterday’s Mundus Nordic Green News.
Kristian Røkke, CEO of Aker Horizons, said “The industrialization of hydrogen production is now starting. Through the launch of Aker Clean Hydrogen, Aker Horizons creates the first pure industrial player in hydrogen production, which addresses a massive market that is rigged for global growth.” At the launch, the company presented slides (in English) outlining its strategy and approach.
GreenLab Skive, a pilot Danish energy park, is preparing for the production of methanol and hydrogen with one of the first full-scale electrolysis plants in Denmark. GreenLab Skive is establishing the new PtX plant in collaboration with the energy park's partners Green Hydrogen System, ReIntegrate, Everfuel and Euro Wind. The pilot plant will produce 8,000 tpa of methanol, which has been bought by the petrol retailer, Circle K, for use as transport fuel.
The new PtX plant will be one of the first full-scale production plants for hydrogen and methanol in Denmark, and one of the largest in the world when it comes into operation. According to Anders Bøje Larsen, Chief Technology Officer at GreenLab Skive "A significant part of the purpose of the demonstration plant is also to test how smoothly hydrogen production can be adapted to variations in weather and electricity production from wind turbines and solar cells, and the plant must therefore also consist of a 1.6 MWh battery storage."
Metacon AB, a supplier for the biogas and recently also hydrogen industry, reported its 4Q20 earnings. In a press release the company wrote, “The global pandemic presented us with challenges in 2020 that have no equivalent in modern times. Despite this, we showed record sales and improved earnings compared with 2019. During the fourth quarter, the Group's total revenues amounted to approximately SEK 6.7 million, an improvement of SEK 1.1 million compared with the same period the year before. Our financial position at the end of the year is good. Cash and cash equivalents amount to just over SEK 76 million and indebtedness is low.” Metacon reported a loss of SEK 3.9 million, and also noted its rights issue of SEK 80 million.
The Nordic countries are some of the most dynamic and successful economies in the world. They are also leaders in sustainability, from renewable energy, biofuels, carbon capture and storage and the hydrogen economy, circular economy business models and battery development, the Nordics are pioneers in policy design, technology development and consumer uptake. Mundus Nordic Green News is covering this transition for the international community. Every day we clip the stories of most relevance to international businesspeople and policy experts from the flow of news. We supplement these with our own opinion pieces and commentary, in English.