Victory Clean Energy, based in Austin, TX, has announced its acquisition of Proton Power's Cellulose to Hydrogen Power (CHyP) Engine system for green hydrogen production. The CHyP system addresses key challenges in implementing a green hydrogen economy, focusing on cost, distribution, and storage. It is expected to operate with 50% lower variable operating costs compared to current electrolysis facilities and is modular for scalable production near demand, reducing the need for storage and transportation. The CHyP system's production process is carbon neutral to negative and highly energy-efficient, requiring only 2 kilowatt-hours (kWh) of electricity to produce 1 kg of hydrogen, significantly lower than traditional electrolysis methods. Additionally, the system produces high-quality biochar that can be upgraded to graphene, adding value through byproduct utilization. Victory Clean Energy plans to deploy the CHyP system starting in 2025, with the first commercial facility set for California to supply green hydrogen for the Redding Rancheria Tribe. The company aims to build 32 plants nationwide in partnership with the tribe for hydrogen transportation infrastructure. Further, Victory intends to demonstrate the system's capabilities in a 3 tonne per day facility for a green charging station, showcasing its carbon-negative and economical solution for electric vehicles. The acquisition, valued at $100 million, includes intellectual property rights, utilization of Proton's manufacturing facility in Tennessee, and biochar supply agreements. Victory Clean Energy is optimistic about the transaction, emphasizing the potential of the CHyP engine to accelerate the hydrogen economy and contribute to decarbonization efforts globally. The company plans to focus on commercialization efforts following the acquisition, with a goal of enhancing efficiency and expanding deployment of the innovative technology.