Hy Stor Energy LP has become the first company in North America to commit to a global green hydrogen standard and pledged to produce the fuel using 100% or near 100% renewable energy, it announced on Tuesday.
The company, which is the developer of the planned Mississippi Clean Hydrogen Hub, said it has partnered with the Green Hydrogen Organisation (GH2) to become the first pledge member on the continent to advocate for the GH2 Green Hydrogen Standard.
The particular standard, the first of its kind globally, was launched by GH2 at the Green Hydrogen Global Assembly & Exhibition in Barcelona in May 2022. Projects that earn the “GH2 Green Hydrogen” label will be eligible to obtain and trade GH2 certificates of origin for green hydrogen and derivatives such as green ammonia.
The announcement of Hy Stor’s pledge comes a few days after the US Senate passed the Inflation Reduction Act (IRA) that provides for USD 369 billion (EUR 360bn) in energy security and climate change investment over the next 10 years.
“Not only will this legislation accelerate clean energy manufacturing at pace and scale, but there is also monumental and impactful provisions and tax credits to boost the renewable hydrogen industry and drive its adoption across the country,” stated company CEO Laura L Luce.
Hy Stor’s first hub in Mississippi will produce and store green hydrogen to serve business, industrial, transportation and utility sectors across the state, neighbouring states and the entire Eastern US.
Also on Tuesday, the company said it is partnering with the Youth for Green Hydrogen movement and other organisations to develop a positive, action-based path forward with educational and advocacy outcomes.
(USD 1 = EUR 0.975)
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