The memorandum of understanding will identify, evaluate, and develop favorable locations to power Hy2gen’s renewable hydrogen and e-fuel production from the gigawatts of offshore wind that OCE is developing in the U.S. and around the world. The two companies have formalized their cooperation for this purpose.
Providing complementary solutions
Hydrogen and wind energy expert OCE is conducting a 10-month project to identify high-capacity offshore wind energy regions where grid constraints, low electricity demand and other factors may inhibit project development. A working group has been formed.
“Green hydrogen has the potential to change the paradigm for offshore wind development,” said Kevin Bannister, CEO of Ocean Connect Energy.
This research is part of Hy2gen’s strategy to incorporate the clean hydrogen regulatory framework established by the Inflation Control Act of 2022 and subsequent guidelines expected from the U.S. Treasury Department.
Hy2gen is committed to producing renewable fuels that meet the highest standards established for new industries.
“Offshore wind, with its high capacity factors and large-scale construction capacity, can provide an excellent energy profile to meet the power demands of green hydrogen production, the next key element of the energy transition,” Bannister said. said. “If done correctly, this combination of the two enables efficient project development and capital allocation.”
Collaborate to move your project forward
Through its global subsidiaries, Hy2gen aims to become the largest and most reliable renewable hydrogen fuel provider and a strong driver of green transformation.
“There are great prospects for working with Ocean Connect Energy.” said David White, president of Hy2gen USA Inc. “We have set concrete benchmarks and deadlines to motivate us and monitor our progress together. We are committed to bringing the project to fruition as quickly as possible.”
With its global team and decades of experience, OCE is committed to leading projects through all stages, from development to operations. Essentially, this includes offtake considerations early in the process. Hy2gen and OCE strive to establish this supply and demand relationship to provide both parties with the reliability and confidence they are looking for as they move forward with development.
This MoU marks another step towards economically producing renewable hydrogen on a large scale and becoming a market leader in this concept. Exploring opportunities to directly integrate offshore wind energy into renewable hydrogen production will increase the energy independence of Hy2gen’s projects and give investors more control.
