The agreement strengthens Exolum’s position in the development of new energy solutions linked to decarbonisation and new energy vectors
Exolum is taking another step forward in its decarbonisation and diversification strategy by becoming a shareholder of H2Vector, a technology start-up based in Asturias which aims to provide energy solutions to enable the decarbonisation and electrification of society, based on renewable hydrogen. Furthermore, the company is conducting research into new forms of storage and transportation of green hydrogen based on the use of organic liquids, a field that coincides with one of the strategic lines of Exolum.
The investment in H2Vector is part of an ambitious Open Innovation plan through which Exolum seeks to establish strategic agreements that will enable it to incorporate new technologies and new talent in its business areas related to decarbonisation.
To this end, the company invests in and cooperates with emerging companies from around the world that offer proposals to add differential value and provide innovative solutions in projects linked to the development of new energy vectors such as renewable hydrogen, biofuels and synthetic fuels, energy storage, sustainable mobility and the circular economy.
For Andrés Suarez, Exolum’s Global Strategy & Innovation Lead, this agreement represents “another step forward in Exolum’s strategy to be a relevant player in the development of new energy vectors, and an opportunity to support Spain’s entrepreneurial ecosystem and specifically a young team set on transforming the energy business with whom we can develop new competences.”
Miguelangel Ocando, CEO of H2 Vector, considers that “the investment by Exolum will allow us to accelerate our technological developments and to attain greater visibility in the green hydrogen energy sector. We are especially pleased to have established this relationship with an industrial partner that has a recognised track record, and with which we share values, mission and objectives.”
Exolum is developing business opportunities related to renewable green hydrogen, both for industrial use and for mobility. The company is building the first integrated plant for the production and supply of green hydrogen for mobility in the Madrid region, Hydrogen Henares – with a production capacity of 60 tonnes per year of this new energy vector.
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Furthermore, together with other companies and research centres, Exolum participates in projects that aim to promote the development of new energy vectors while benefitting from existing infrastructures, by researching technologies for the storage and distribution of renewable hydrogen in liquid organic hydrogen carriers (LOHC). Such consortia include Regenera and GreenH2Pipes.
