H2V2 Mexico to Enter Joint Venture to Produce Green Hydrogen
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H2V2 Mexico to Enter Joint Venture to Produce Green Hydrogen

Photo by:   Annie Spratt
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Karin Dilge By Karin Dilge | Journalist and Industry Analyst - Fri, 03/31/2023 - 09:00

Aiming to provide energy solutions at lower costs, H2V2 Mexico announced it will sign a joint venture with the Spanish company H2B2 Electrolysis Technologies. The Mexican company said it wants to be the main alternative in the implementation of technology for the generation of green hydrogen, as well as solutions adapted to the needs of customers in the energy sector at the industrial level.

"Our promise is to provide customized solutions in renewable energy generation for the main industries that currently have a high environmental cost. The most important thing is to provide viable and sustainable alternatives that mitigate the carbon footprint of both industry and transportation," said Antonio Caballero, Council President, H2V2. 

H2V2 believes that the Mexican market has potential for growth in the energy industry and for the implementation of public policies that promote the development of sustainable energies. The company announced that it is working on the installation of the first hydrogen generating plant in an industrial sector company. "Our proposal offers a new alternative for top executives, to choose among viable and sustainable options that mitigate the carbon footprint of the industry," Caballero emphasized.

According to Adalberto Garcia, President and CEO Mexico, AES, green hydrogen could be the driver for renewable sources to curb the reliance on oil and coal. One of the main reasons for these high expectations is that it hydrogen produces energy without emitting toxins to the atmosphere. It can be stored and distributed, which is one of the main problems with renewable energy like solar and wind, today, due to intermittency and dependence on climate conditions.

A study by the Mexican Hydrogen Association (AMH2) and an international consulting firm revealed that the adoption of green hydrogen in Mexico as an alternative fuel for energy production could generate US$60 billion in investments. Meanwhile, new regulations and development targets are needed to drive the industry forward.

Israel Hurtado, President, AMH2, said Mexico could be a leader in green hydrogen production, as well as an exporter. “Several studies point out that Mexico could save up to 64% in green hydrogen production costs compared to other countries because of our geographic location and renewable energy potential. Moreover, we could export it to Europe or Asia, since we have access to the Pacific and Atlantic oceans and a free trade agreement with the US and Canada,” he said.

In Mexico, there are about 10 green hydrogen projects under development. CFE announced that it has a plan to produce and generate electricity with green hydrogen to replace natural gas. In addition, in its 2023-2027 business plan, PEMEX committed to replace gray hydrogen with green hydrogen. Meanwhile, CEMEX will introduce green hydrogen to some of its plants. 

Photo by:   Annie Spratt

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