Dual Fuel Joint Venture with G-volution
Molecular Energies PLC, the international energy company announces the formation of Dual Fuel Limited a new joint venture for its Green House Capital division.
Dual Fuel Limited (“DFL”) has been incorporated to provide an engineering to implementation solution for the conversion of commercial diesel engines to run on a diesel and hydrogen mix. It is a joint venture between the Green House Capital division of MEN and G-volution, an leading UK dual fuel technology business.
DFL’s objective is to provide engineering solutions using G-volution’s contribution to the JV of its proprietary technology to quickly and cost effectively convert existing commercial road and off-road vehicles as well as barge transport to run on a mix of diesel and green hydrogen. It aims to have its first prototype converted dual fuel vehicles running in the field by end 2023.
The initial lead market will be Paraguay due to the favourable strategic and commercial environment and importantly the availability of green hydrogen fuel for mobility from ATOME Energy PLC, a company in which MEN is one of the largest shareholders.
The objective, after proof of concept, is to roll out conversion solutions to end users within the Mercosur trading bloc and worldwide married to availability of hydrogen from third party producers.
DFL intends to provide a solution to commercial users who recognise the need to demonstrate their commitment to reduce emissions without having to replace existing vehicle fleets or barges thereby obviating the time-consuming requirement to expend significant monies for new commercial hydrogen fuel cell (“FCEVs”) or battery electric vehicles (“BEVs”) with hydrogen range extenders.
Peter Levine, Chairman, commented: ” Hydrogen for heavy commercial transport is an essential component in the decarbonisation of heavy transport where current electric vehicles are not appropriate for heavy loads and distances. The cost of electricity can be high and charging points are at a premium for long distance travel outside of urban and built-up environments. Moreover, the roll-out of hydrogen for heavy commercial transport users is being impacted not only due to the availability of green hydrogen but also by the high cost of either hydrogen direct powered vehicles or hybrid electro-hydrogen alternatives.