Shell Technology Ventures and Anglo American Platinum make Investment in HyET Hydrogen
Shell Technology Ventures and Anglo American Platinum make Investment in HyET Hydrogen
author Added by FuelCellsWorks, April 16, 2018

HyET Hydrogen, which has offices in Arnhem and Berkeley (USA), announces a strategic partnership with Shell Technology Ventures BV (STV) and the Platinum Group Metals (PGM) Investment Program of Anglo American Platinum. Both parties acquire a minority interest in HyET Hydrogen. The interest of both companies is in the breakthrough electrochemical hydrogen (H2) compression and purification technology that HyET has developed. The technology may lead to an acceleration in the transition to a H2 based energy economy.  HyET has developed. This technology can lead to an acceleration in the transition to a clean, hydrogen-based energy system.

Rombout Swanborn, CEO and co-founder of HyET Hydrogen said, "We have high expectations of the strategic partnership with Shell and Anglo American Platinum,"  he continued,  "We believe that with the support of these partners, both of whom are well acquainted with and in the hydrogen market, the acceptance of our new technologies can accelerate.Thanks to our new compression technology - compared with the traditional methods - the reliability of the production and storage of hydrogen under high pressure is improved, while the costs are reduced. "

Highly compressed hydrogen can store a large amount of electrical energy; much more than conventional batteries. For comparison: a car drives about 100 km on 1 kg of compressed hydrogen, while it only rides 1 km on the energy stored in 1 kg of batteries. The ability to compress hydrogen in a cost-effective and reliable manner will play an important role in accelerating the acceptance of fuel cell electric vehicles (FCEVs) and other vehicles such as lorries and buses that run on hydrogen.

Swanborn adds that HyET and Shell Hydrogen have already agreed in the slipstream of the transaction a cooperation aimed at the development of compression systems specifically intended for use in public hydrogen filling stations (Hydrogen Refueling Stations or HRS). "Low-noise, reliable compression equipment at low cost is crucial for the deployment of hydrogen filling stations. The technology of HyET makes that possible ", says Oliver Bishop, General Manager Shell Hydrogen

Andrew Hinkly, CEO of Anglo American Platinum's PGM investment program: "We support the commercialization of new applications that use our metals and that have synergies with our existing operations and the companies in our portfolio." The investment in HyET represents an impetus for the demand for our metals as we simultaneously accelerate the roll-out of hydrogen filling stations and the introduction of FCEVs Our investment in HyET adds another new building block to our portfolio of investments aimed at increasing demand for products from our Platinum Group With as."

Peter van Giessel, who was responsible for the deal on behalf of Shell, commented: "STV is pleased to support HyET in the development and marketing of its innovative hydrogen technology, and Shell believes that hydrogen will play an important role in the future. clean transport technology HyET's technology is a great way to reduce emissions and improve air quality. "