- Memorandum of Understanding signed in Augsburg
MAN Energy Solutions and Wasco have signed a Memorandum of Understanding (MOU) to promote and commercialize Power-to-X (PtX) projects in South-East Asia. The technology in question converts electricity into carbon-neutral synthetic fuels, gas or liquid, for use as a clean, carbon-neutral energy source.
Due to travel restrictions triggered by the Covid-19 pandemic, the signing ceremony took place as a digital event with representatives from both companies participating via a live video stream.
“We see a huge potential for Synthetic Fuels”, said Uwe Lauber, CEO of MAN Energy Solutions. “To advance decarbonisation, climate-neutral fuels are needed in all sectors where direct electrification via batteries is not an option – as is the case with international shipping. Without a doubt, Power-to-X is one of the key technologies needed to generate such synthetic fuels. We are very happy to work in South-East Asia together with Wasco and build on their vast network, tremendous experience, and substantial capabilities in the region.”
“Both companies have a strong track record, background, and resources in developing energy projects across Asia. This collaboration with MAN on Power-to-X technology is in line with Wasco’s growth ambitions driven by innovation. The signing of the MOU reaffirms our commitment to deliver innovative and sustainable solutions to the market, which is the future of the energy sector,” said Giancarlo Maccagno, CEO, Wasco Energy Group.
Power-to-X technology converts electricity into carbon-neutral synthetic fuels, gas or liquid, for use as a clean, carbon-neutral energy source. Excess renewable energy can be converted into hydrogen and stored for use when demand is high, to heat buildings, in fuel cells, or for specific industry activities.
MAN Energy Solutions is a pioneer in the development of Power-to-Gas technology and commissioned Europe’s largest methanisation plant to create green methane from hydrogen as far back as 2013. Today, the company offers industrially-scaled 50MW Power-to-Gas and Power-to-X plants as part of its product portfolio.
Wasco is a leading, global, integrated energy group that provides pipe-coating, engineering & fabrication services, manufacturing pipes, and much more. With a robust operational network spanning 18 international locations, it has executed major projects for clients globally.