JERA Americas Inc. announced an agreement to invest almost $18 million in Germany-based Hydrogenious LOHC Technologies GmbH.
The investment was led by JERA Americas with Temasek, Chevron Technology Ventures, and Pavilion Capital as additional investors.
JERA Americas, an integrated energy provider supporting the Americas’ energy transition, delivers energy solutions through a diversified portfolio of low carbon technologies, renewable generation, fuel, and gas-fired generation, as well as investing in energy technologies.
“We are moving forward on all fronts to reach net zero CO2 emissions by 2050,” said Steven C. Winn, CEO of JERA Americas. “Our investment in Hydrogenious LOHC is another important step in the development of the low carbon fuel value chain.”
Hydrogenious LOHC, founded in 2013, said its proprietary technology and industrial-scaled plants enables flexible, safe, easy and efficient transportation and storage of hydrogen in conventional fuel infrastructure – all within ambient conditions.
The world's largest LOHC plant is being built by Hydrogenious LOHC in Dormagen, Germany, and is expected to start operations in 2023. Carriers such as the kind produced by Hydrogenious LOHC are an essential part of making low carbon fuel available to these facilities, and allowing for the production of large-scale, zero carbon reliable energy, the company said.
"By investing in Hydrogenious LOHC, JERA Americas will strive to acquire knowledge of LOHC technology, a potential game changer as a hydrogen energy carrier, and will support development of LOHC plants in Europe, North America, Asia etc., thereby contributing to establishing hydrogen supply chains globally," JERA Americas said in its release.
Recently, JERA Americas announced plans to employ hydrogen as a fuel in two power generation facilities in which it has an ownership interest, Linden Cogeneration and Cricket Valley Energy Center.
