March 22 (Renewables Now) - Dutch paints, coatings and speciality chemicals company Akzo Nobel NV (AMS:AKZA) said Wednesday it is joining a partnership in Sweden to study opportunities for using renewable electricity to produce green hydrogen and electrofuels.
AkzoNobel Specialty Chemicals is partnering with Research Institutes of Sweden (RISE), forestry company Sodra and packaging materials firm BillerudKorsnas in the project, which is supported by the Swedish Energy Agency.
AkzoNobel said it is a large electricity consumer in Sweden and will contribute its expertise in electrochemistry to the study.
Anna-Karin Jannasch of RISE noted that as Sweden aims to produce 100% renewable electricity in 2040, there is a growing need to manage electricity supply and demand fluctuations, while the large availability of renewable power creates opportunities at the same time.
Surplus renewable electricity can be converted into green hydrogen or electrofuels, which are synthetic fuels based on electricity, water and carbon dioxide (CO2). This can help balance the supply and demand of electricity from renewables such as wind and solar.
AkzoNobel recently teamed up with Dutch gas network operator Gasunie to consider a large-scale green hydrogen project.