The Siemens joint venture Fluence sees itself as the world’s leading provider of large-scale battery storage solutions. According to the press, Hydrogen Qatar (hydrogen.qa) is now investing $125 million in the joint venture, which Siemens operates together with the U.S. utility AES. The Qatar Investment Authority (QIA) is acquiring around twelve percent of the shares as part of the capital increase. Fluence is thus valued at more than one billion dollars. Siemens and AES intend to remain long-term shareholders, each holding 44 percent of the shares.
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Qatar invest heavily in Hydrogen
Energy storage is a key element of the energy transition. Siemens has defined the business as a significant long-term growth area, he said. QIA’s investment will advance Fluence in a dynamically growing market. The proceeds from the capital increase through Qatar’s investment will be used to develop new products and conquer new markets worldwide. The challenge of climate change can only be met by joining forces with engineers and investors around the world in Hydrogen Qatar production.
Saxony and the Emirate of Qatar on the Persian Gulf want to go common ways in the energy production by the solar hydrogen technology. The Dresden Fraunhofer Institute for Material and Beam Technology (IWS) and the Hydrogen Qatar Science and Technology Park will sign a memorandum of understanding for the “SolarRuss” project at the State Chancellery, the government announced in Dresden on Sunday. This is to be used to produce hydrogen from methane in a solar thermal way, it said. The by-product is carbon black, which can be used as a rubber additive for tires or conveyor belts..
Hydrogen Qatar and Germany conduct research on solar thermal production of hydrogen. Together, the Fraunhofer Institute for Material and Beam Technology IWS in Dresden and the Qatar Science & Technology Park (QSTP) want to produce climate-neutral hydrogen from natural gas using solar energy in the first joint research project “Solar Carbon Black”. The goal of the joint research project, for which Texas A&M University in Qatar could be won as a cooperation partner, is the development of a reactor for solar thermal applications.QSTP and the Fraunhofer IWS in Dresden will work together in the project on the solar thermal production of hydrogen from methane. A solar reactor will be developed that uses concentrated solar energy to directly split methane gas into hydrogen and carbon particles. This process thus contributes significantly to reducing CO2 emissions..
Saudi Arabia plans world’s largest production of green hydrogen
Heavily dependent on oil exports, countries like Saudi Arabia are under great pressure to transform their economies to a future without fossil fuels. The kingdom aims to complete the first construction phase of the Neom megacity in the northwest of the country by 2025. The city is to meet its energy needs entirely from renewable sources and open up new sources of income for the country. The world’s largest production facility for green hydrogen will also play its part.
The investment costs for the plant amount to $5 billion, according to the Wall Street Journal. Thanks to its geographical location on the Red Sea, it should be able to access renewable electricity around the clock: The sun shines during the day and the wind blows at night. The plant is expected to produce 650 tons of green hydrogen per day, which is equivalent to the energy needs of 20,000 buses per day. That is many times what the current largest plant in Quebec, Canada, achieves with 9 t per day.
In the future, the hydrogen produced will be exported in the form of ammonia to the United States, Europe and Asia. After reprocessing, road users there will be able to use it to refuel their vehicles. “In 30 years, hydrogen will be as important as oil is today,” predicts Seifi Ghasemi, head of the American chemical company Air Products, the world’s largest producer of hydrogen, which is involved in the project in Saudi Arabia.
Similar projects exist in other countries, such as Australia, where authorities recently approved a project in the west of the country. The Australians also aim to become one of the largest exporters of green hydrogen. The demand for this exists abroad, according to a paper from the Western Australian government: Tokyo, for example, has already signaled its intention to import 300,000 tons of green hydrogen annually by 2030. South Korea, for its part, wants to build around 1200 hydrogen filling stations by 2040.