Norsk Hydro assesses entering the hydrogen business
It would use hydrogen for its internal demand as well as sell to other end users
Norsk Hydro, Norway aluminium and renewable energy company with a presence in 40 countries, said today (7th April) to explore opportunities in the hydrogen business, H2 Bulletin reports.
The company said that it is assessing employing its industrial and renewable power capabilities for developing and operating hydrogen facilities that can help satisfy its internal demand and even help other end users. It plans for a full or partial switch from gas to hydrogen probably at some of Hydro’s aluminium plants in Norway.
Hydro has already been using hydrogen for heating in casthouses and anode production. This large internal demand for gas can be replaced by green hydrogen solutions. Hydro has set a target of reducing its emissions by 30% by 2030. It aims to strengthen its low-carbon aluminium position while exploring new growth opportunities in recycling and new energy.
Hilde Merete Aasheim, President and CEO in Hydro, said, “We see substantial potential for industrial hydrogen consumption. Taking a developer and operator role in the hydrogen sector represents an opportunity for Hydro to reduce industrial CO2 emissions and develop a profitable and sustainable business based on hydrogen.”
The company said that it has looked into hydrogen technologies and their applications several times in the past. However, the current decarbonisation initiative and the available support in the region make the switch to hydrogen a reality.
Hydro is trying to strengthen its position in low-carbon aluminium, and currently, 70% of the electricity used in Hydro’s primary production is based on renewable power.