Innovative Hydrogen Production Project Bringing Economic Growth to Mercer County
Key Ideas
- TNT Biofuels plans to establish 25 hydrogen-producing coal plants in Mercer and McDowell counties, generating 30 to 35 megawatts of power daily.
- The project is expected to attract $10 billion in investments over 8 to 10 years, with a focus on creating around 3,000 jobs and offering scholarships to students.
- The company aims to start construction in April or May, with completion targeted for November 2025, foreseeing long-term benefits for the region's economy and workforce.
- By utilizing Opportunity Zones and clean energy incentives, TNT Biofuels seeks to appeal to investors and promote sustainable economic development in the area.
TNT Biofuels, led by managing partner Tim Hawks, is embarking on an ambitious project to establish 25 hydrogen-producing coal plants in Mercer and McDowell counties. The unique properties of the coal in this area allow it to be heated to high temperatures, producing hydrogen that can be converted into electricity. The company anticipates generating 30 to 35 megawatts of power daily, with plans to invest $10 billion in the region over an 8 to 10-year period. The project is set to create approximately 3,000 jobs, with wages starting at $60,000, and will offer scholarships to students in engineering programs at Bluefield State University.
Hawks envisions breaking ground on the plants in the coming months, with an ambitious timeline to have operations underway by November 2025. The long-term impact on the local economy and workforce is expected to be significant. By leveraging Opportunity Zones and clean energy initiatives, TNT Biofuels aims to attract investors interested in tax advantages and sustainable development opportunities. The company's senior adviser, Reid Erickson, highlights the appeal of avoiding capital gains taxes for investors who commit to the project for a decade or more. With a lifespan projected at 20 to 30 years, the hydrogen plants could potentially operate for up to 75 years with ongoing technological investments.