The “Green Hydrogen” facilities, which will produce nearly 24,000 kilograms per day of renewable hydrogen, will “apply to two New Energy customers and two projects,” Scott Shields, a partner at Katy, Texas–headquartered New Energy told POWER.
Details about the facilities, including what proprietary components they will include, how they will function, and when they could begin operating, are also murky.
The design, which provides the “flexibility to incrementally expand production and storage capabilities through modular additions,” will “be applied to other upcoming projects and as noted, are expandable to larger applications,” he said.
“We can state that New Energy technology and applications significantly decrease the typical cost of green hydrogen production below costs which are typically published,” he said.
In certain applications, reduced PEM power input costs could put the cost of hydrogen production in a range between $1.37/kg to $2.30/kg, depending on the plant size, Shields said.
Founded on a pool structure to diversify risk, New Energy’s business model is to essentially assess, develop, finance, and own projects in a pool with an assortment of niche business partners.
New Energy is currently in a “strategic partnership with McDermott’s CB&I Storage Solutions whereby CB&I Storage Solutions provides New Energy, as its customer, EPC services, as well as performance guarantees and other important world-class services,” Shields said.
CB&I Storage Solutions also expressed optimism about the facility design and its prospects.