NHYDY Norsk Hydro ASA (QX)

By Dominic Chopping

Norwegian aluminum producer Norsk Hydro ASA said Tuesday that it has agreed with Royal Dutch Shell PLC to explore producing green hydrogen to help decarbonize its own operations as well as supply customers in heavy industries, the maritime sector and road transport.

The deal will see Hydro Havrand and Shell New Energies Holding Europe BV aim to jointly produce and supply hydrogen made using renewable electricity initially from locations in Europe, with the intention to expand into additional regions and locations over time.

"Hydro looks to green hydrogen as a way to reduce our aluminum's carbon footprint even further, as well as a business opportunity on its own merits in the ongoing decarbonization of the economy," said Arvid Moss, Hydro executive vice president for energy.

Replacing natural gas for heating purposes in aluminum production with renewable hydrogen will contribute toward Hydro's global commitment to reduce its greenhouse-gas emissions by 30% by 2030, it added.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

November 09, 2021 05:22 ET (10:22 GMT)

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