NewHydrogen will provide green hydrogen generators to intermittent renewable power sites, such as wind and solar farms. The Massachusetts-based Verde LLC will provide NewHydrogen with hydrogen generation systems.
“We are very excited about our new business relationship with Verde and our plan to partner with operators of intermittent renewable power sites, such as wind and solar farms,” said David Lee, CEO of NewHydrogen.
NewHydrogen is targeting wind and solar farms that produce excess solar and wind energy during certain times of the day. This power can be used to run an electrolyzer (the primary component in a hydrogen generator) that converts water into green hydrogen, which is distributed in pipelines and converted back into electricity when needed. This green hydrogen can be stored in tanks and underground caverns, forming a network that can energize industry and back up electric grids.
“For NewHydrogen, this is a major leap forward,” Lee said. “By owning and controlling the hydrogen generators at these sites, we will be able to move very rapidly to demonstrate the economic viability of this approach, as well as new technology currently under development including our breakthrough catalysts.”
The goal of NewHydrogen’s sponsored research at UCLA is to lower the cost of green hydrogen by eliminating or reducing the use of precious metals in electrolyzers.
Electrolyzers currently rely on rare-earth materials such as iridium and platinum, which often accounts for nearly 50 percent of the electrolyzers’ cost.
More info www.newhydrogen.com