Itochu Corporation and Nel Asa today (8th October) has inked a Memorandum of Understanding (MOU) to create a strategic partnership in the hydrogen industry.
Both partners will jointly explore hydrogen business opportunities and develop tangible projects. They will also aim to expand the hydrogen business globally by establishing a production, transportation and distribution hydrogen value chain together with potential partners in each area of the value chain. In addition, the parties agreed to evaluate and explore each project and business opportunity together with Osaka Gas Co., Ltd.
In another development, today, Costain has been awarded the concept development and feed study for the HyNet project hydrogen storage facility in northwest England by Inovyn (one of the HyNet partners). Costain will undertake an initial concept study to demonstrate the requirements for importing, storing, and exporting hydrogen at the facility. This will form the basis of a targeted front end engineering design (feed) study package for the hydrogen facility.
The HyNet project is expected to play a significant part in enabling the UK’s hydrogen economy to create the UK’s first full chain, integrated low carbon hydrogen supply system of production, distribution network, bulk storage and consumption. The project will see the development of a hydrogen storage facility in the southern part of the Holford Brinefield in Cheshire, storing up to 1.3 TWh of hydrogen underground in salt cavities. Excess hydrogen will be stored for usage during peak winter periods.