Mabanaft (German integrated energy company) has acquired an equity stake in Nacompex GmbH (German engineering company).
The investment is directly related to Mabanaft’s Sustainable Fuels Strategy and ties in with its ongoing hydrogen- and power-to-liquid projects, such as AquaVentus and P2X-Europe. The advantage of the cooperation with Nacompex is that the FeRedox process can, in principle, also be employed for efficiently producing synthetic fuels that can then be used without any problems in the existing service station infrastructure.
Volker Ebeling, Senior VP at Mabanaft, commented that the investment in Nacompex shows our commitment to a promising technology in an important future market.
Nacompex developed the FeRedox process, which aims to boost the electricity-hydrogen-electricity energy conversion chain’s efficiency significantly. Claudia Hain, MD of Nacompex, explained that our technology stores hydrogen in iron pellets using a redox reaction with iron cost-effectively. Hydrogen can then be easily and safely stored and transported and efficiently recovered, and converted into electricity.
Nacompex, in cooperation with the Dresden University of Technology, also plans to set up a research facility for testing the operational performance of the iron-filled storage containers used to store hydrogen.
Moreover, as part of the FutureHDrive project, the FeRedox storage technology is being scaled up as a 1 MWh standard module for hydrogen storage, to be built in the form of a stationary container and prepared to be integrated on a rail vehicle. The FutureHDrive project is part of its National Hydrogen Strategy, and Nacompex has been granted around €1.8 million in funding from the Federal Ministry for Economic Affairs and Energy (BMWi).