ACME Group, a renewable energy firm, announced a partnership with German firm Hydrogenious LOHC Technologies to explore the creation of large-scale hydrogen supply chain from Oman to Europe. According to a statement, Hydrogenious' LOHC technology offers hydrogen storage and transportation that is both safe and cost-effective using existing liquid fuel infrastructure. Liquid organic hydrogen carriers (LOHCs) can be utilized to store hydrogen and transport it over vast distances.
A memorandum of understanding has been signed by Hydrogenious LOHC Technologies and ACME Group to work together on a feasibility study aimed at investigating the cooperative development of large-scale hydrogen supply chains from supply hubs in Europe to ACME's projects in Oman utilizing the cutting-edge LOHC technology.
Both sides plan to expand the relationship to assess the hydrogen value chain from the United States to Europe. Oman advantages from rich renewable energy resources such as solar and onshore wind, while the United States Inflation Reduction Act provides production incentives, resulting in competitive hydrogen production costs. ACME's green hydrogen produced in these initiatives may be stored in LOHC and transferred to Europe via tanker to provide and decarbonise industrial offtakers, energy, and transportation.
"we have taken conclusive decisions on our Oman project and partnering with Hydrogenious to develop efficient logistics using LOHC is the next step in delivering cost-effective value proposition for our customers," Ashwani Dudeja, Group President and Director for ACME Group, added.
"Our collaboration will contribute to making clean hydrogen from the MENA region and the US available to European off-takers in the mid- to long-term," Toralf Pohl, Chief Commercial Officer at Hydrogenious LOHC Technologies said in the statement.
