Hydra Energy to offer cheaper-than-diesel hydrogen for Chemtrade trucks
February 24 (Renewables Now) - Canada’s Hydro Energy has signed a long-term contract with chemical company Chemtrade Logistics Income Fund (TSE:CHE.UN) to offer green hydrogen for its commercial truck fleets at a fixed price and 5% below the price the partner would typically pay for diesel.
The contract is part of Hydra’s Hydrogen-as-a-Service (HaaS) business model and will include the company capturing, cleaning and compressing hydrogen, it said.
Hydra will install hydrogen-diesel co-combustion conversion kits into existing semi-trucks and provide the fueling infrastructure for the green hydrogen. The company says it sources the hydrogen from chemical producers such as Chemtrade at no cost to fleet owners. Its fuel is hydrogen gas already vented as a by-product of manufacturing.
“Hydra enables a rapid and affordable transition to cleaner trucking by turning one’s waste into another’s valuable resource,” said Hydra Energy COO Jessica Verhagen.
The partners are first focusing on one of Chemtrade’s plants in British Columbia with the potential to expand across Canada.
The project will break ground in 2021, with gas supply set for the next year.
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