Germany’s H2 Industries invests in $3bln green hydrogen plant in Egypt

German energy storage firm, H2 Industries, is investing USD 3 billion (EUR 2.62bn) to build a plant in Egypt that will produce 300,000 tonnes of green hydrogen per year, the firm’s Chairman Michael Stusch told Arabic news outlet Asharq.

The green H2 production facility will be located in the east of Port Said, near the Suez Canal. The company received preliminary approval by the General Authority for Suez Canal Economic Zone (SC°Zone) for the development of a 1GW LOHC Hydrogen Hub. The plant will  produce green H2 by using organic wastes as feedstock for its energy production, while capturing CO2 and commercialising it to achieve carbon neutrality, making it the first of its kind in the world.

“This is an exciting opportunity and one that will take the tons of waste that collects in Egypt and turn it into green hydrogen. The Waste-to-Hydrogen plant is a breakthrough in making green hydrogen economically viable, helping not only reduce global CO2 emissions but also reducing the pollution and impairment of water resources in the country,”  said Michael Stusch, Chairman of H2 Industries.

The green hydrogen plant is expected to absorb at least 4 million tons of waste annually which will include organic waste and non-recyclable plastic. H2 Industries “buys a ton of waste for about $20, which is an attractive price for those looking to work with us,” said Michael Stusch, CEO of H2 Industries.

“Creating green hydrogen has historically proven uneconomic. H2-Industries, using its proprietary technology, has developed a process to create large amounts of green hydrogen from organic waste at competitive costs,” the company says.

“The green hydrogen produced from that process can be transported and stored, using other H2-Industries technologies, and released on demand for use in industry applications,” H2 Industries adds.

The investment by H2 Industries in a green H2 project falls in line with the Egyptian government’s goal to increase the proportion of energy production from new and renewable sources to 20 percent of the total energy production in 2022, to reach 42 percent by 2035.