Entering into the clean H2 market, renewable power company Aw-Energy has announced a new strategy, using its wave energy technology to step into the commercial green hydrogen market.
Aiming for considerable cost reductions in clean H2 production, Aw will combine its WaveRoller and HydrogenHub to create a green hydrogen production process for the commercial market. Ultimately this could become another solution in the transition to the use of mainstream clean H2 worldwide.
CEO Christopher Ridgewell says “Wave energy holds the greatest potential to generate constant low-cost green hydrogen. Our WaveRoller process enables a green hydrogen plant to achieve much higher production capacities at reduced costs by complimenting wave energy with solar or wind.”
The demand for substantial amounts of renewable hydrogen will be considerable as numerous sectors look to achieve carbon neutrality targets.
It has become widely understood that to reach a tipping point green hydrogen must achieve a price of US$2 per kilogram, at which point H2 and its derivative fuels will be ‘a top cross-sector source of energy’.
AW-Energy Oy hopes to use its wave energy technology to provide clean hydrogen to sectors such as power generation, shipping, steel manufacturing and fertiliser production. Demand in these areas is rapidly rising in international markets and across Europe.
“Because AW-Energy is the market leader in its field with utility scale technology, proven performance, our partners and industry stakeholders are encouraged by what we can now deliver commercially,” added Ridgewell.