NEW YORK, Oct. 09, 2022 (GLOBE NEWSWIRE) — The directors of Hydrogen Technology Ventures, a company established in 2019 to invest across the clean hydrogen value chain, have launched Avina Clean Hydrogen Inc, a platform leading form for clean hydrogen with an advanced portfolio of green ammonia and hydrogen plants expected to be operational in 2024.
Avina is a one-of-a-kind green hydrogen platform that was created to build green hydrogen and green fuel plants in the United States. The platform develops proprietary, modular solutions to deploy low-cost distributed green hydrogen at scale and is well-equipped with industry experts who have decades of experience in the green hydrogen sectors. , industrial gas and renewable energies.
Renewable generation costs are already below $30/MWh in many parts of the United States today. Yet despite these cost reductions, industries such as oil, steel, rail, marine and aviation are unable to use renewable energy in any meaningful way to reduce emissions from their processes. of production.
Avina’s mission is to expand renewable energy use cases and accelerate the energy transition in hard-to-decarbonize sectors by harnessing low-cost renewable electrons and converting them into higher-value green molecules. The platform uses a technology-based production approach to make distributed green hydrogen cheaper than the gray hydrogen delivered today. The team has unparalleled expertise in renewable energy, industrial gases, green hydrogen technologies and develops proprietary deployment solutions to complement the DOE’s stated goal of driving the cost of green hydrogen production to 1 $/kg by 2030.
“Today, even though the costs of producing gray hydrogen in the United States are around $1.50/kg, the costs of gray hydrogen delivered to the end customer in many cases are still a multiple of the costs of production and this issue is likely to become much more significant as new applications for hydrogen are developed in places where supply is not readily available,” said Vishal Shah, Founder and CEO of Avina. .
“Additionally, the intermittency of renewable energy and rising transmission and distribution costs will continue to challenge the hydrogen industry, even as electrolyzer costs continue to decline. Our platform is uniquely positioned to deliver proprietary system-level solutions to multiple stakeholders: renewable energy developers facing grid congestion, hydrogen customers facing unsustainable distribution costs as well as customers who want to reduce production costs by solving renewable energy. power intermittency problem.
Avina has recently entered into multiple strategic partnerships, customer intakes and investment agreements with major industry players and is well capitalized to advance the development of 250 MW of green ammonia and hydrogen plants. in several locations in the United States. The platform plans to invest $1 billion in green ammonia and hydrogen plants by 2025 and has an additional 1.5 GW pipeline of renewable energy assets that can be converted into green hydrogen projects at different stages of development. For more information on Avina Clean Hydrogen, visit www.avinah2.com