In order to achieve this, Verde will supply the company with state-of-the-art hydrogen generation systems which will then be coupled with wind and solar farms that currently produce an excess of energy during certain times of the day.
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The excess power could then be used to power an electrolyser that can then convert water into green hydrogen using renewable energy which then can be stored in either tanks or underground until it is needed.
This could see additional hydrogen enter the market whilst also giving a platform to commercialise the technology to the rest of the world.
David Lee, CEO of NewHydrogen, said, “We are very excited about our new business relationship with Verde and our plan to partner with operators of intermittent renewable power sites, such as wind and solar farms.
“Verde will manufacture the systems for NewHydrogen, which the Company will purchase for use at the sites. For NewHydrogen, this is a major leap forward.
“By owning and controlling the hydrogen generators at these sites, we will be able to move very rapidly to demonstrate the economic viability of this approach, as well as new technology currently under development including our breakthrough catalysts.”
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