Denmark-headed Haldor Topsoe A/S, a global leader in high-performance catalysts and proprietary technologies for the chemical and refining industries has announced that it has signed a Memorandum of Understanding (MoU) with Icelandic green hydrogen and ammonia project developer Green Fuel ehf which will see the companies partnering to identify efficient and scalable technologies for the production of green ammonia in Iceland.
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Haldor Topsoe and Green Fuels are both already active in developing green solutions to help combat the climate challenge. The two parties are now collaborating to develop viable and efficient solutions, which could serve to establish Icelandic production of green ammonia.
The agreement also enables the two companies to explore other business opportunities within green ammonia, which is seen as a future fuel that will play a vital role in the decarbonization of salient industries including shipping, heavy goods transportation, and agriculture.
Haldor Topsoe develops cutting-edge new technologies within green hydrogen, green ammonia, eMethanol, and electro-fuel (eFuels).
Iceland offers large-scale volumes of the renewable power needed from its vast hydro and geothermal resources, and we see exciting potential for the production of clean fuels, said Tore Sylvester Jeppesen, SVP at Haldor Topsoe.
Green Fuel is majority-owned by UK-headed ATOME Energy plc (ATOME), a green hydrogen and ammonia production company, and a subsidiary of UK-headed oil and gas company President Energy plc.
ATOME has planned 350 MW scale green hydrogen and ammonia projects in Iceland and Paraguay. ATOME’s objective is to commence the first phase of production by the end of 2023, ramping up to the project’s full 350-MW capacity by mid-decade.
With a 75 percent stake in Green Fuel, ATOME will act as a “green accelerator” by enabling Green Fuel to reach the first production by leveraging its expertise, direct funding, and mobilizing institutional investors and international lenders.
As part of its plan to produce green ammonia and green hydrogen in Iceland, Green Fuel has secured a Letter of Intent (LoI) to operate at Bakki Eco-Industrial Park in northeast Iceland.