ABB and Hydrogen Optimized Inc. (HOI) have signed an agreement to expand the companies’ existing strategic relationship.
This includes an investment by ABB into Key DH Technologies Inc. (KEY), the parent company of HOI, as they seek to accelerate the fast-emerging green hydrogen production segment with unique large-scale architecture. The financial terms of the agreement were not disclosed.
The signing follows the two companies’ showcase of their green hydrogen technologies at the August 23, 2022 German-Canadian Atlantic Renewable Hydrogen Expo in Stephenville, Newfoundland, which was attended by Canadian Prime Minister Justin Trudeau and German Chancellor Olaf Scholz.
Hydrogen produced with low-to-zero carbon dioxide emissions is widely recognized as essential to achieving net-zero emissions by 2050. By accelerating the strategic collaboration between ABB and HOI launched in 2020, the two companies are advancing the deployment of economic large-scale green hydrogen production systems to decarbonize hard-to-abate industries that address a wide range of essential needs – energy, metals, cement, utilities, ammonia, fertilizers, and fuels for aircraft, ships, trucks and rail.
The companies will leverage their respective capabilities and resources to rapidly commercialize HOI’s patented RuggedCell™ high-power water electrolysis technology for the world’s largest green hydrogen plants.
Joachim Braun, Division President, ABB Process Industries, said, “We look forward to building on our companies’ two-year working relationship to pursue the enormous global opportunity of green hydrogen.”
Andrew Stuart, President and CEO of KEY and HOI, said, “This agreement positions us for success in the large-scale segment with customers requiring installations in the hundreds of megawatts to multi-gigawatts.”