Hy2gen Canada Explores Hydrogen Export Project in Prince Rupert
Key Ideas
- Hy2gen Canada has leased 79 acres of Watson Island in Prince Rupert to explore a hydrogen-based energy export project, focusing on renewable hydrogen and hydrogen-based feedstock production.
- The city and Legacy are optimistic about the potential benefits of the project, expecting environmental advantages, revenue generation, and job creation for the community.
- The lease agreement with Hy2gen provides exclusivity for feasibility work, with lease revenues to be paid to the city for supporting infrastructure development and operational expenses.
- The project's development timeline is estimated to be up to six years, with potential for permanent high-paying jobs and additional property tax revenue for the city once operational.
Prince Rupert’s Legacy Inc., a company wholly owned by the city of Prince Rupert, has leased 79 acres of Watson Island to Hy2gen Canada for the exploration of a hydrogen-based energy export project. While specific details of the project are not yet disclosed, Hy2gen Canada focuses on developing facilities for renewable hydrogen and hydrogen-based feedstock production. The city and Legacy, particularly Director Robert Buchan and Mayor Herb Pond, express enthusiasm for the project's potential benefits, including environmental sustainability, revenue generation, and job creation. The lease agreement grants Hy2gen exclusivity to conduct feasibility work without leading to land ownership. Revenues from the lease will be directed to the city to support infrastructure development and operational expenses. The project, if successful, is expected to attract permanent high-paying jobs and generate additional property tax revenue. Hy2gen Canada, with a global presence and experience in hydrogen facilities, views Prince Rupert's attributes favorably for the development of a green energy export project targeting the Asian market. Furthermore, hydrogen's clean-burning nature and minimal greenhouse gas footprint position it as an attractive alternative to fossil fuels, aligning with Canada's advantage as a hydrogen producer with abundant clean electricity sources.
Topics
Projects
Renewable Energy
Investment
Job Creation
Economic Development
Environmental Sustainability
Global Expansion
Community Consultation
Greenhouse Gas Reduction
Latest News