Advait Energy Holdings Expands Investment in TECO 2030 for Clean Energy Solutions
Key Ideas
- Advait Energy Holdings increases stake in TECO 2030, a Norwegian company developing PEM hydrogen technology for emissions-free ships and heavy-duty applications.
- Equatic in California begins production of oxygen-selective anodes for clean hydrogen generation with a focus on sustainability and cost-effectiveness.
- Nuvera Fuel Cells introduces a hydrogen-powered AC generator set and DC fast charger for on-site power, targeting locations with limited grid access.
- Magma Power secures 11 patents for magma-based renewable energy technology capable of significantly reducing energy costs and enabling green hydrogen production.
Advait Energy Holdings, a subsidiary of Advait Infratech Ltd from India, has increased its investment in TECO 2030, a Norwegian clean-tech company specializing in PEM hydrogen fuel cell technology. This strategic move comes following a Memorandum of Understanding signed between the two companies to collaborate on advancing clean energy solutions, particularly focusing on TECO 2030's fuel cell technology for emissions-free applications. The collaboration aims to target SAARC member countries for the development and commercialization of these technologies.
Equatic, based in California, has initiated the production of oxygen-selective anodes (OSAs) to generate clean hydrogen by separating seawater into gases. Their innovative approach not only ensures sustainability by preventing ocean acidification but also aims to reduce costs associated with carbon removal. Equatic plans to integrate this technology into their upcoming demo-scale plant in Singapore and their first commercial-scale plant in Quebec.
Nuvera Fuel Cells, a Massachusetts-based company, is set to demonstrate a hydrogen-powered AC generator set and DC fast charger in collaboration with Power Innovations International. This development is geared towards providing on-demand power and electric vehicle charging in locations with limited grid access, with plans for a fully commercial version in progress.
Magma Power, headquartered in Florida, has acquired 11 global patents for its renewable energy technology based on magma, enabling the production of green hydrogen, ammonia, and kerosene at a target cost of $0.01/kWh. The company aims to offer exclusive licensing agreements for over 1,000 identified sites worldwide.
Additionally, the article highlights RWE Supply & Trading's agreement for green ammonia supply with AM Green Ammonia in India, TotalEnergies' investment in the Japan Hydrogen Fund, and Rystad Energy's insights on Spain and Germany's electrolyzer capacity targets. These developments collectively depict a positive momentum in the clean energy sector, emphasizing the growing interest and investments in hydrogen-related technologies.
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