ABB to Work on Large-Scale Green Hydrogen Production With Canadian Partner
24 August 2022 - 9:08PM
Dow Jones News
By Pierre Bertrand
ABB Ltd. said Wednesday that it has agreed to expand its work on
large-scale green hydrogen production systems with Canada's
Hydrogen Optimized Inc.
As part of the agreement, the Swiss technology company said it
would invest in Key DH Technologies Inc., the parent company of
green hydrogen technology company HOI. No financial details were
disclosed.
The companies aim to commercialize high-powered water
electrolysis technology, the process by which electrical energy
splits water into hydrogen and oxygen, for green hydrogen
plants.
The technology should help cut the footprint of carbon-intensive
industries that address a range of needs including energy, metals,
cement, utilities, fertilizers, and fuels for various
transportation vehicles, they said.
ABB's investment, led by its venture-capital arm, will be used
to advance the development of HOI's intellectual property and apply
robotics and automated manufacturing.
The two companies' collaboration began in 2020.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
August 24, 2022 06:53 ET (10:53 GMT)
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