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Monday 10 December 2018
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GE to Deliver Turnkey Grid Solution to Support H2V INDUSTRY’s Launch of First-of-its-Kind Green Hydrogen Initiative

GE to Deliver Turnkey Grid Solution to Support H2V INDUSTRY’s Launch of First-of-its-Kind Green Hydrogen Initiative
  • First two H2V INDUSTRY factories in France, forecasts the creation of 200 jobs at each site
  • H2V INDUSTRY project will deliver green hydrogen produced by the electrolysis of water and renewable power sources, guaranteeing a zero-carbon footprint
  • This initiative to address Europe’s energy transition, will positively impact the global trend of decarbonization - the need for cleaner green energy

 

Paris, France - December 6, 2018:  Addressing the global energy trend for cleaner energy and a reduced carbon footprint, H2V INDUSTRY today announced it has awarded GE Power's Grid Solutions business a contract for the turnkey supply of two 225 kV/30 kV electrical substations. These substations will feed the first 100 MW H2V INDUSTRY production units of the Port-Jérôme factories near Le Havre (76-Normandie) and Loon Plage near Dunkirk (Dunkerque, 59-Nord). H2V INDUSTRY forecasts the creation of approximately 200 jobs at each factory site in France in 2022. According to the “Hydrogen, Scaling up” study conducted by McKinsey for the Hydrogen Council, this energy source could reduce annual CO2 emissions by around 6 metric gigatons, compared with current levels.

 

World’s First Innovative Mass Production of Green Hydrogen

Recognized as a critical contributor to the energy transition’s success, green hydrogen is the most abundant element on earth and plays an important role in reducing greenhouse gas emissions. Green hydrogen contains up to three times more energy per unit mass than diesel, and two and a half times more than natural gas. To address customers’ needs for green hydrogen related to the growing global trend of decarbonization, H2V INDUSTRY’s intends to establish factories in France to support Europe’s energy transition. These factories will focus on the mass production of hydrogen via the electrolysis of water, thereby delivering green hydrogen at a zero-carbon footprint.  

 

Green Hydrogen and its Zero-Carbon Footprint

Currently, 95 percent of hydrogen is produced from fossil fuel sources resulting in pollution, whereas green hydrogen produced from water and renewable power sources guarantees a zero-carbon footprint. H2V INDUSTRY has chosen the electrolysis of water as the innovative method to produce green hydrogen. The electrolysis of water involves using electrical energy to separate water into hydrogen (H2) and oxygen (O2), thereby converting electrical energy into chemical energy. This green hydrogen can be stored for later use on the network, produced where there is a high concentration of renewables power sources or transported to the consumption sources. It can also be directly injected into industrial processes for decarbonization.

 

“We are pleased to work with GE’s Grid Solutions because of its undisputed expertise, renowned reliability across the globe, its reputation and quality products. Bringing together our respective competencies is a win-win for both companies,” said Lucien Mallet, H2V INDUSTRY CEO.

 

"As the grid is becoming increasingly complex, integrating more renewable energy sources and more storage, we are pleased to partner with H2V INDUSTRY on this exciting initiative. A major enabler in the production and transmission of green energy, this contract with H2V INDUSTRY is part of our global strategy to help transform energy networks," said Julien Pelcot, GE’s Grid Solutions Sales Director, France/Belux.  

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Pasargad Energy Development Co. (PEDC) is an independent energy company based in Iran. PEDC is an integrated energy company whose activities span the entire value chain including exploration, production, refining, petrochemicals marketing, power generation & renewables as well as new high-tech venture capitalizing. Our headquarter is located in Tehran. PEDC is present across the Iranian continental shelf and international market through its subsidiaries. We create value for our shareholders through active investment, high-level monitoring of our projects, building world-class partnership and managing our risks effectively and making balanced portfolio. Meantime, we contribute to the sustainable development of the energy sector and communities in our country. PEDC’s competitiveness relies upon our values-based performance culture, with a strong commitment to transparency, cooperation and continuous operational improvement. As a wholly owned subsidiary of the Pasargad Financial Group, with Pasargad Bank being a distinctive shareholder, we owe our success to our experience, management knowledge and strong local/international partnerships since 2008. PEDC is committed to maintaining sustainability and being recognized as the strategic partner of choice in Iran’s energy and petrochemical sector.​

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  • GE to Deliver Turnkey Grid Solution to Support H2V INDUSTRY’s Launch of First-of-its-Kind Green Hydrogen Initiative
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