Cortus and Powercell Sweden sign LoI to develop and market biomass power
Cortus Energy has announced that it has signed a Letter of Intent (LoI) with Powercell Sweden to develop and market electricity from biomass.
Swedish biomass gasification technology developer Cortus Energy AB, has announced that it has signed a Letter of Intent (LoI) regarding a partnership with the leading Swedish fuel cell company Powercell Sweden AB, to develop and market electricity from biomass.
The aim is to offer clients a climate solution using biomass gasification to hydrogen technology from Cortus to produce hydrogen for use in fuel cells from Powercell to produce environmentally friendly electricity.
– Electricity generation using fuel cells will enable higher power outputs with lower emissions than is possible with gas engines today. Through a system of fuel cells in WoodRoll, the installation cost of electricity is reduced. We also get the opportunity to become self-sufficient in power to our own process. Large mutual benefits and synergies to put it simply, said Rolf Ljunggren, CEO, Cortus Energy AB in a statement.
Open new markets
With this future cooperation is given an opportunity to fill the need for green hydrogen at a low cost and high availability, which will affect the commercial success. Powercell also sees synergies with stacks, automotive and industrial applications of fuel cells through an increase of the production rate of stacks and the ability to reach critical production volumes.
– Cortus’s technology enables clean gas from biomass on a large scale opening new markets for our fuel cells. We certainly look forward to close cooperation with Cortus Energy to jointly develop a climate solution that fits customers’ needs for solutions to produce environmentally friendly electricity based on biomass, said Andreas Boden, Marketing – & Sales Manager, Powercell Sweden AB.
The LoI on cooperation will enable the companies to gradually validate the technology, from tests in Köping, Sweden to industrial scale in, for example, Japan. With an upscaling of technologies creates opportunities for new joint customer projects where Cortus Energy and Power Cell’s technologies are integrated.