Ad Astra Rocket Company and Mesoamerica join forces to create green hydrogen solutions corporation, ProNova Energy.
For Immediate Release – Green hydrogen pioneer, Ad Astra Rocket Company, Costa Rica SRL, and Latin America’s asset management leader, Mesoamerica, are joining forces to form ProNova Energy, a joint venture dedicated to developing green hydrogen solutions for customers worldwide, with an initial focus in the Latin American region.
Green hydrogen is obtained by decomposing water into its constituents – hydrogen and oxygen – using renewable energy sources such as hydroelectric, wind and solar. The process, called electrolysis, is carbonfree and does not contribute to global warming.
In the last decade, green hydrogen has become a leading component of global decarbonization, as nations develop plans to address climate change. The technology has also matured, and costs have come down as deployment scales up. In Latin America, several nations, including, Brazil, Costa Rica, Chile, Colombia, Uruguay, and Panamá, have joined the industrialized world with bold government programs and pilot green hydrogen deployments. Ad Astra Rocket Company has been a regional pioneer, inaugurating, in 2017, the first integrated green hydrogen transportation ecosystem in Latin America.
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Green hydrogen is used to store the large amounts of renewable energy that would otherwise be lost due tothe intermittency of solar and wind. It is a clean fuel with a kilo-for-kilo energy content far greater than diesel, gasoline, or natural gas. It can be stored for later use as a liquid, a high-pressure gas or as a carbon-free chemical, such as ammonia.
It can be burned to produce intense heat for industrial applications, or electrochemically processed in a fuel cell to generate electricity and pure water. The latter method powers fuel-cell electric vehicles (FCEVs), increasing their range over their battery counterparts (BEVs) and reducing the
need for heavy batteries or lengthy recharges.
Hydrogen is especially suited for heavy duty transport applications in buses, trucks, trains, ships, aircraft, and applications in stationary power. When produced, green hydrogen liberates large amounts of pure oxygen, another valuable biproduct in medicine, waste treatment and
industrial processes.
When consumed, hydrogen combines with ambient oxygen to produce electricity and returns pure water back to the environment.
With several potential projects in the pipeline, ProNova Energy plans to get to work right away combining Mesoamerica’s strong track-record in structuring and financing energy projects throughout Latin America, with Ad Astra’s decade-long experience and technical knowhow in the implementation, maintenance and operation of green hydrogen ecosystems.
Franklin Chang Díaz, Ad Astra’s Chairman and CEO:
This exciting strategic partnership of our two complementing entities will allow us to take green hydrogen to a new level of large-scale deployment.
“We are thrilled and honored to be joining forces with Mesoamerica’s outstanding team of professionals,” he added.
Luis Javier Castro, Managing Director and President of Mesoamerica said:
We are very pleased to partner with Ad Astra and Dr. Chang in our shared purpose to transform Latin America’s energy matrix.
“Green hydrogen will be one of the key energy sources for a decarbonized economy. We look forward to be in the front-seat in the development of hydrogen projects that will deliver a new industrial era in a world without fossil fuels.” Thanks for staying up to date with Hydrogen Central.
Ad Astra Rocket Company and Mesoamerica join forces to create green hydrogen solutions
corporation, ProNova Energy, March 29, 2022
