Ronn Inc Signs JV MoU Agreement for Patented Low-Pressure Hydrogen Storage With Hydrogen Energy Systems Inc.
RONN In. (OTC PINK:RONN) announced that the Company, which has officially forged a new expanded MOU with Hydrogen Energy Systems Inc. with a specific focus initially on their patented low-pressure hydrogen storage solutions, known as “Hydra-Paks expanding to mutual third-party mutual project collaboration.
The Hydra-Paks will be implemented into RONN’s hydrogen hub projects to provide turn-key, low-pressure green energy storage solutions for Canadian First Nations agreements already in place. The Patents are also expected to be adapted into RONN’s HFC Mid-Mile Logistic vehicles for an even more extended range.
Mr. Ford stated that the success of this pilot project could pave the way for the widespread adoption of sustainable low-pressure hydrogen technologies and fostering global commitments to environmental consciousness in both our mobile and stationary applications. We are committed to providing the best and latest technologies available to build a better life for the planet.
HES executives added that the patented low-pressure hydrogen storage opens doors to applications where low-pressure storage would provide the key to success, such as schools, residential areas, airports, ships, and transportation platforms.
In 2023, the US hydrogen energy storage market was estimated to be worth $3.17 billion and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2030. The industrial segment led the market in 2023, accounting for 40.56% of revenue. The global hydrogen energy storage market is also expected to grow from $11.4 billion in 2023 to $196.8 billion by 2028. Factors driving this growth include the demand for clean fuel, the transition to sustainable energy, and government efforts to reduce greenhouse gas emissions.
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Ronn Inc Signs JV MoU Agreement for Patented Low-Pressure Hydrogen Storage With Hydrogen Energy Systems Inc. source
