Hydrogen Venture (HV2), a subsidiary of integrated financial services and project development firm CCV, will develop green hydrogen using baseload geothermal as the primary energy source for continual electrolysis from CeraPhi’s proprietary closed loop CeraPhiWell system.
Through HV2, CCV has established more than £350 million in developments in the EU and UK with a target to recover 1.5 million tons of CO2. Its vision is to increase its current project portfolio of green hydrogen and synthetic fuels (green ethanol and green methanol) in 2022 to more than £1 billion.
Green hydrogen is produced by splitting water using electrolysis powered by renewable energy sources such as wind or solar and is the cleanest option because CO2 is not a by-product. Integrated geothermal energy company CeraPhi has developed its proprietary advanced geothermal closed loop technology providing baseload 24/7 energy off grid anywhere. Target sectors include large scale domestic and residential heat networks, combined heat and power, industrial processing, desalination and water treatment, agriculture, and aquaculture.
“There is a lot of hype around hydrogen’s role in the energy mix being a clean fuel to burn for heating or use for transportation, however we know most of this is focused on the use of fossil fuel and, whether that’s black, grey or blue, to produce this sustainably at scale means producing fossil fuels in vast quantities forever” said Karl Farrow, CeraPhi Energy CEO. “The CeraPhi approach allows hydrogen to be produced using one of the cleanest baseload energy sources, geothermal. Green hydrogen requires a 24/7 energy supply to make it commercial at scale and, because its complex transportation challenges the ability to produce green hydrogen at a low cost where it can be used directly, it provides a game-changing commercial benefits. We are looking forward to working with Climate Change Ventures in these projects and defining the next generation of scalable green hydrogen technology.”
Horacio Carvalho, CEO of Climate Change Ventures, added that CCV is always looking for new technologies that enhance competitive pricing on green hydrogen production.
“We are delighted to have entered into this collaboration agreement with CeraPhi” Mr Carvalho said. “With our subsidiary Hydrogen Ventures (H2V), which develops green hydrogen projects, we will have a constant supply of green power from geothermal facilities developed by CeraPhi. CCV will also introduce this technology to other clients whom we currently advise to enhance their capability to access a mix of green power 24/7. Within the ethos of CCV is embedded a strategic objective of introducing new technologies that enable a net zero economy and contribute to global climate change mitigation. The partnership we have created together strengthens this objective immeasurably.”
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