Hy2gen and Trafigura sign Memorandum of Understanding to develop a study that quantifies the infrastructure and production demands for green ammonia to decarbonize the shipping industry.
Wiesbaden– Hy2gen and Trafigura have today signed a Memorandum of Understanding to collaborate on a study aimed at quantifying the needs of the shipping industry for green ammonia as the industry transitions to low and zero carbon maritime fuels. The study will consider the necessary aspects to enable large-scale commercial adoption, including the required quantities of green ammonia, and the transport and storage capacities that will be needed.
Building the infrastructure to enable an efficient supply chain that can deliver sufficient quantities of the 100 percent renewable and carbon free green ammonia to market will demand enormous commitments in production, infrastructure and shipping upgrades that the study aims to quantify.
“As one of the largest physical commodity traders and vessel charterers in the world; Trafigura is uniquely placed to push this transition forward,“ said Cyril Dufau-Sansot, CEO Hy2gen AG.
Trafigura recognized the key role and potential of Hy2gen for the industrial production of greenhydrogen early on, and has been an investor in Hy2gen since 2019.
“Hy2gen is a first mover and pioneer in green ammonia production and concept development. We very much recognize their capacity to quickly execute projects of scale that can fast track the transition for the shipping industry to run on clean fuels,” said Julien Rolland, Head of Power and Renewables for Trafigura.
About Hy2gen AG
Hy2gen AG, based in Wiesbaden, Germany, brings together specialists with experience of developing, building and operating plants for the production of green hydrogen and hydrogen-based e-fuels, offering better ways to achieve CO2-free or CO2 neutral fuels and storage solutions. The first plants will be built in Canada, France, Germany and Norway. The company aims to become a leader in the hydrogen and e-fuels market for mobility and industry, areaswhere it is currently proving difficult to significantly reduce emissions.
Hy2gen’s goal is to become the market leader in the production of hydrogen and e-fuels for mobility and industry. The project pipeline of the young company already amounts to a total volume of more than 11 gigawatts of electrolyser capacity, with a production capacity of more than 1.5 million tons per year of CO2-free hydrogen from renewable energies. Hy2gen occupies a pioneering position in the industry.
Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. Trafigura sources, stores, transports and delivers a range of raw materials (including oil and refined products and metals and minerals) to clients around the world and has recently established a power and renewables trading division.
The trading business is supported by industrial and financial assets, including a majority ownership of global zinc and lead producer Nyrstar which has mining, smelting and other operations located in Europe, Americas and Australia; a significant shareholding in global oil products storage and distribution company Puma Energy; global terminals, warehousing and logistics operator Impala Terminals; Trafigura’s Mining Group; and Galena Asset Management.
With circa 850 shareholders, Trafigura is owned by its employees. Over 8,500 employees work in 48 countries around the world. Trafigura has achieved substantial growth over recent years, growing revenue from USD12 billion in 2003 to USD147 billion in 2020. The Group hasbeen connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade.