JM receives financing; India National Hydrogen Energy Mission; Quantum hydrogen storage
JM will issue €315 million of PP and will receive £400m of sustainable financing.
Johnson Matthey has announced two separate financing arrangements linked to its commitment to reduce greenhouse gas emissions.
These two financings follow their first sustainability-linked financing, a £1 billion revolving credit facility, signed in March 2020. It will also receive £400 million of sustainable financing through UK Export Finance’s (UKEF) Export Development Guarantee scheme.
UKEF is the UK’s export credit agency and their scheme is to support UK exports, allowing Johnson Matthey’s continued investment into research and development of hydrogen projects and circular technologies.
India proposes a green hydrogen approach for steel production
The Union Minister for Steel Shri Ram Chandra Prasad Singh said that India’s Ministry of New and Renewable Energy (MNRE) has proposed setting up the National Hydrogen Energy Mission to develop and scale green hydrogen production technology to make it affordable and widely accessible.
The steel sector has also been made a stakeholder in the Mission. Under this initiative, it has been proposed to set up pilot plants with part funding from the Government to explore the feasibility of using green H2 in Direct Reduced Iron (DRI) production by partly replacing natural gas with H2 in gas-based DRI plants. Based on the success of the pilot projects, the gas-based DRI units shall be encouraged for large scale adoption of the process.
Renewable Innovations partners with Quantum Fuel Systems
Quantum Fuel Systems has partnered with Renewable Innovations to bring to market new solutions for Hydrogen distribution.
Renewable Innovations will incorporate Quantum Hydrogen storage vessels in its mobile Fuel Cell and H2 transport systems.
Quantum has over 20 years of Hydrogen experience and is now on the cutting edge of looking at power generation and backup power applications in addition to their speciality in mobile applications. Both firms envision this partnership as a critical stage in delivering Hydrogen-power-based solutions to the market.
