India’s Advait Infratech Ltd announced today that its arm Advait Energy Holdings AS has made a further investment in Norwegian clean-tech company TECO 2030 AS. With this second tranche, Advait Energy Holdings AS stake now stands at 4.89% of TECO 2030 AS shares.
TECO 2030 develops PEM hydrogen fuel cell stacks and PEM hydrogen fuel cell modules that enable ships and other heavy-duty applications to become emissions-free.
Advait’s investment in TECO 2030 is based on the strategic MoU signed between the two companies on April 11, 2024. The collaboration aims to harness their combined expertise to advance clean energy solutions, focusing on the development, manufacturing, and commercialization of TECO 2030’s fuel cell technology in the SAARC (South Asian Association for Regional Cooperation) member countries (Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka).
Established in 2009, Advait Infratech provides end-to-end solutions for power transmission, substation, and telecommunication infrastructure and has diversified into renewable energy.
Equatic has started production of oxygen-selective anodes (OSAs) in California and aims to reach full capacity by the end of 2024. It plans to produce 4,000 units per year at the facility. “During the first phase of research, the team developed electrodes with finely architectured catalysts that do not react with the salt in seawater,” said the California-based company. “As a result, the chlorine in the salt remains stable and safe, while hydrogen gas is generated and captured to be used as clean energy.” It claimed that its technology enhances the lifespan of anodes and improves their recyclability. After three years, the anodes require only a new coating of catalysts made from inexpensive, abundant elements, allowing them to be restored to like-new condition and extend their usability for decades. In June 2022, ARPA-E, a US Department of Energy agency, granted $3 million in funding over three years. The proprietary electrolyzer separates seawater into two liquids – an acid and a base stream – and two gases, hydrogen and oxygen. The acid stream is neutralized with crushed rock to prevent ocean acidification, while the base stream interacts with the atmosphere to capture carbon dioxide from the air. The company said its clean hydrogen production will help reduce carbon removal costs to below $100 per metric ton by 2030. It will integrate oxygen-selective anodes into Equatic-1, its upcoming demo-scale plant in Singapore, as well as its first commercial-scale plant in Quebec.
Nuvera Fuel Cells said it will demonstrate its first operational hydrogen-powered AC generator set and DC fast charger for on-site power and electric-vehicle charging. “The prototype unit, developed in collaboration with power management services provider Power Innovations International, will be demonstrated at the Fresno, California location of Papé Material Handling,” said the Massachusetts-based company. The generator is intended to provide on-demand power to locations with limited or no grid access. Development of the fully commercial version is currently underway.
Magma Power has secured 11 global patents for its magma-based renewable energy technology. “Magma Power’s patented systems are capable of producing baseload renewable energy at a target cost of $0.01/kWh, a rate that could significantly reduce energy costs across industries,” said the Florida-based company. It claimed that it could enable the production of green hydrogen, ammonia, and kerosene. It noted that it is offering exclusive licensing agreements for over 1,000 identified global sites where magma power can be produced.
RWE Supply & Trading has agreed to a long-term supply deal for green ammonia with AM Green Ammonia, sourced from the latter’s production sites in Kakinada and Tuticorin, India. AM Green Ammonia’s facilities will be powered entirely by carbon-free energy, including solar, wind, and hydroelectric power. RWE expects deliveries to begin by 2027, with a subsequent offtake agreement outlining contractual terms.
TotalEnergies has joined the Japan Hydrogen Fund as an investor, alongside several major Japanese companies, to support the development of the low-carbon hydrogen value chain. The fund, launched by the Japan Hydrogen Association and managed by Advantage Partners, initially holds more than $400 million from key investors, including Toyota, Iwatani, Sumitomo Mitsui, MUFG Bank, Tokyo Century, Japan Green Investment Corp., and the Bank of Fukuoka.
Rystad Energy said Spain could reach around 5 GW of installed electrolyzer capacity by 2030, but it will need more subsidy programs to hit its 11 GW goal. The Norwegian energy research firm noted that most green hydrogen projects in Spain are low-risk and likely to be completed on time, given strong government support. The company also said it expects Germany to achieve 4.5 GW by 2030, short of its 10 GW target.