Location: Belgium, Flanders
Project: Renewable hydrogen: the missing link between the power, heat, industry and transport sectors
Project Acronym: HyLYZER
EU has set up a Renewable Energy target of 32% by 2030. However, the large-scale uptake of Renewable Energy Sources (RES) involves high variability and unpredictability and brings large fluctuations in frequency, grid voltage and power flow leading to an unstable grid. Therefore, to integrate RES onto the grid it is necessary to implement energy storage solutions and Power to H2 (P2H) systems stands as most competitive grid energy storage systems. On the other side, Europe is undergoing an huge energy transition looking to decarbonize industrial processes, driven by the binding agreements reached at the COP21 meeting to stop global warming. Industries such as steel making, fertilizer production, chemical and petrochemical refining or glass making use hydrogen as feedstock or high heat for various ends. However, most of the production processes involve carbon-based energy sources and are highly polluting, contributing abundantly to global GHG emissions. Hydrogenics aims at bringing to the market the disruptive HyLYZER® 1000, a breakthrough large-scale, containerized, plug & play, compact and modular P2H solution to address both RES mass grid integration and bulk green H2 production for the industrial and mobility markets. Indeed, if current H2 production technologies were replaced by our RES-powered electrolysers, global CO2 emissions would be hugely reduced in more than 500 MM ton CO2/year. HyLYZER® 1000 is based on a proprietary cutting-edge uniquely large 2.5 MW PEM-based water electrolysis cell stack able to produce highly pure green H2 (99.998%), with the highest conversion efficiency (52.3 kWh/kg – 76.2%) and the longest lifetime (80 000 h). Its modularity provides an easy unprecedent up-scalation to more than 100 MW P2H systems by replicating nx5 MW containers. We aim at unblocking a business of 491.58 MM€ in 2022-2026, throwing EBITDA of 36.72 MM€, IRR of 48.53% and ROI=4.25. The payoff period is only 3 years and 66 direct jobs will be created.
Topic: Energy
Total budget: 3.497.541 €
EU Contribution: 2.448.279 €
Call ID: H2020-SMEInst-2018-2020-2