Green Hydrogen – Topsoe Awarded EUR 94 Million From The EU Innovation Fund To Build SOEC Factory.
Topsoe, a global leader in carbon emission reduction technologies, has signed a grant agreement with EU’s Innovation Fund for a total of EUR 94 million. The grant is a recognition of Topsoe’s state-of-the art SOEC electrolysis technology and the innovation inherent in building this first of its kind SOEC factory. The factory is Topsoe’s single biggest investment to date.
The factory will manufacture advanced, energy efficient Solid Oxide Electrolyzer Cells (SOEC) that are essential in the production of green hydrogen and its derivatives. Electrolyzers are key for decarbonizing energy-intensive industries like steel, mining, and long-distance transportation that account for approximately 30% of global greenhouse gas emissions and cannot easily be electrified. In Europe, the EU Commission has announced a proposal to deploy 40 GW of hydrogen electrolyzer installation and 10 million tonnes of green hydrogen production.
When used to produce green hydrogen, electrolyzers from Topsoe’s factory will reduce emissions by approximately 7.5 million tonnes of CO2 equivalent over the first ten years of operation when compared to hydrogen produced from natural gas.
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Roeland Baan, CEO at Topsoe, said:
I’m very proud that the Innovation Fund acknowledges our technology leadership and our decision to take the first steps in increasing European electrolyzer manufacturing capacity.
“EU funding is key in supporting the industry’s endeavors to back the green hydrogen economy and contribute to EU’s 2050 climate neutrality target. We’re facing an immense task to decarbonize energy-intensive industries and long-distance transportation, and at Topsoe we’re doing our part. This grant from the EU demonstrates how public incentives and private innovation can bring us closer to net zero.”
Kim Hedegaard, CEO Power-to-X at Topsoe, said:
We’re incredibly honored to have been awarded such a prestigious grant. The energy transition demands careful use of resources to maximize outputs, and our SOEC technology is up to 30% more efficient than competing technologies.
“Our Herning factory is hopefully the first of many, enabling Topsoe to take a leading role in decarbonizing shipping, aviation, steel, and more industries. This is an exciting step for Topsoe, Denmark and the EU.”
Highlights:
- The EU’s Innovation Fund has awarded Topsoe EUR 94 million for the construction of the company’s first electrolyzer manufacturing facility in Herning, Denmark. It is the largest investment in Topsoe’s history.
- The factory is expected to be operational by 2024 and will produce Solid Oxide Electrolyzer Cells (SOEC).
- Initial factory capacity is 500 megawatts (MW) with the option to scale further.
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Green Hydrogen – Topsoe Awarded EUR 94 Million From The EU Innovation Fund To Build SOEC Factory. source
