H2-Industries plans USD-4bn waste-to-hydrogen project in Egypt
Yehia Zaki (left) and Michael Stusch sign the Memorandum of Understanding. Source: H2-Industries Inc.
June 1 (Renewables Now) - H2-Industries Inc has entered into a pact with the General Authority for Suez Canal Economic Zone (SCZONE) to build a USD-4-billion (EUR 3.73bn) waste-to-hydrogen plant at a new greenfield site in the East Port-Said integrated zone in Egypt.
The two parties have signed a memorandum of understanding (MoU) that envisages building a plant capable of producing 300,000 tonnes of green hydrogen per year using organic waste and non-recyclable plastic.
According to information on H2-Industries' website, the New York City-based company will develop a 1-GW Liquid Organic Hydrogen Carrier (LOHC) plant. It claims that the facility will achieve its output at half the levelised cost of current green hydrogen production technologies.
The plant is expected to dispose of 4 million tonnes of Municipal Solid Waste (MSW) per year, transported by a fleet of hydrogen-powered waste trucks.
“The MOU is not mandatory until H2-Industries finish all the feasibility studies we need to go ahead with the final contract coinciding with COP27 next November,” said Yehia Zaki, SCZONE’s chairman.
SCZONE is an economic hub in Egypt consisting of six ports and four industrial zones. Earlier this month, it was announced that the entity governing the zone had signed a total of six MoUs for the development of green hydrogen and green ammonia projects in the Ain Sokhna region of Egypt, representing a total green fuel investment potential of USD 10 billion.