COVID–19 NEWS   S Korea’s new COVID-19 cases bounce back to over 10,000 amid resurgence woes | Italy's COVID-19 transmission rate rises for 4th consecutive week | N Korea's first COVID-19 cases traced to area bordering S Korea: State media | COVID: Rise in new infections, drop in death cases last week - Health DG | South Korea’s COVID-19 vaccine candidate inches closer to launch after experts' approval Recommendation | 
BUSINESS

Clear Hydrogen UK declares agreement expansion with Proton Technologies

26/04/2022 12:49 PM

KUALA LUMPUR, April 26 (Bernama) -- Clear Hydrogen UK Ltd (CHUK) has announced an expansion of its agreement with Proton Technologies.

The plan is to produce Clear Hydrogen from the UK’s aging offshore oil assets while sequestering vast amounts of CO2 as solid carbonate within the same systems.

According to a statement, Proton has the lowest-cost method for producing Clear Hydrogen, which is the most environmentally-friendly and lowest cost method to make hydrogen.

Chairman of Proton Technologies, Grant Strem said “Our mission is to proliferate this hugely-scalable clean energy technology worldwide as fast as we can afford to. We like partnering with decisive and capable groups like CHUK to fill offtake deals already in advanced discussions.

“Adapting Proton’s hardware solutions to an offshore setting is easily within the technical grasp of experts in the UK, and this partnership with CHUK is good news for the environment and the UK economy generally.”

Meanwhile, Chairman of CHUK Hertford King said: “We look forward to the jobs and economic security this will bring to the UK using Proton’s low cost, carbon negative technology to leverage the equipment, assets, offshore knowledge, and people who already support the UK’s offshore energy production. 

In 2021, CHUK’s founders invested C$3.7 million in Proton to obtain a 20-tonne per day production licence for use in the UK and Ireland. The expansion announced is 250x larger, giving an implied total licence value as high as C$925 million for 5,000 tonnes per day. (C$1 = RM3.42)

Terms include 45 per cent ownership of CHUK going to Proton, who will be providing increased technical support and governance oversight to CHUK’s team. Two of CHUK’s founders will also be joining the board of Proton.

-- BERNAMA


Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at www.bernama.com ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2022 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy