VTTI and EIT InnoEnergy plan to develop large-scale New Energy projects in Europe
VTTI and EIT InnoEnergy’s European Green Hydrogen Acceleration Center (EGHAC), supported by Breakthrough Energy, have agreed to jointly develop large-scale domestic hydrogen production facilities and hydrogen import facilities in Europe’s major ports. Both companies share an ambition to support the European Green Deal and the REPowerEU initiative, which recently set out the EU’s Hydrogen Strategy for domestic hydrogen production and hydrogen imports.
VTTI New Energies is currently developing multiple new energy opportunities in hydrogen and hydrogen carrier fuels, renewable natural gas, waste to renewables and carbon capture. It is supporting the Port of Rotterdam in its offer to supply Europe with 4.6 megatons of hydrogen by 2030. In addition, VTTI recently commenced its first new energies investment with the start of the construction of a state-of-the-art bio-energy facility in the Netherlands, producing green gas and organic fertilisers.
EIT InnoEnergy is the world’s largest investor in sustainable energy innovations, founded in 2010 and backed by the European Institute of Innovation and Technology (EIT). The EGHAC, which is supported by Breakthrough Energy, focuses on decarbonizing hard to abate industries (steel, fertilizers, chemicals, and heavy mobility) by setting up green hydrogen industrial players. A first lighthouse project is H2greensteel, where green hydrogen is used to produce low carbon steel. More recently EGHAC announced pHYnix, a commercial scale green hydrogen production facility in Spain. The European Commission is partnering with the EGHAC to bring innovative hydrogen projects faster and with less risk to market to meet the EU’s ambitions.
VTTI is one of the world’s leading storage providers for energy and other essential products like chemicals. Located at major shipping crossroads and supply gateways, VTTI provides over 10 million cubic metres of storage capacity across five continents. VTTI New Energies is developing new ways of thinking, creating new renewable energy initiatives and, by doing so, actively looking to fuel the transition to the energy solutions of tomorrow. www.vtti.com
About EIT InnoEnergy & EGHAC
EIT InnoEnergy operates at the heart of the energy transition and is providing the technology and skills needed to accelerate Europe’s Green Deal and decarbonisation goals. Created in 2010 and supported by the European Institute of Innovation and Technology (EIT), EIT InnoEnergy has offices in Europe and Boston (USA).
Recognised globally as the most active sustainable energy investor and one of the largest investors in climate technology and renewable energy technology in 2021, EIT InnoEnergy supports innovations in a wide range of areas. These include energy storage, transport and mobility, renewable energy and sustainable buildings and cities, leveraging its trusted ecosystem of over 500 partners and 29 shareholders.
EIT InnoEnergy is the driving force behind three strategic European initiatives including the European Battery Alliance (EBA), the European Green Hydrogen Acceleration Centre (EGHAC) and the European Solar Initiative (ESI). www.innoenergy.com
European Green Hydrogen Acceleration Center (EGHAC)
The European Green Hydrogen Acceleration Center (EGHAC) is founded and run by EIT InnoEnergy and supported by Breakthrough Energy.
It creates industrial players which it helps to de-risk and accelerate their green hydrogen, ammonia, methanol, and aviation fuel projects. EGHAC does this through early-stage investment and acceleration services which are delivered in collaboration with their ecosystem.
Key to the success is the value chain approach; by bringing all stakeholders together including the off takers, the risk and benefits can be shared so that the premium for a carbon free produced end product is kept to a minimum.