FFI and Covestro enter into green hydrogen supply agreement

According to the Memorandum of Understanding (MoU), FFI and Covestro will formalise an agreement under which FFI will supply Covestro with the equivalent of up to 100 000 tpy of green hydrogen.

The arrangement will enable Covestro to reduce its greenhouse gas emissions by up to 900 000 tpy of CO₂, by replacing grey hydrogen and its derivatives with green hydrogen.

The deliveries are earmarked for three potential locations – Asia, North America and Europe – and could commence by 2024.

FFI and Covestro view the non-binding MoU as the first step towards a broader strategic partnership to accelerate the green energy transition, particularly in energy-intensive industry.

Green hydrogen is made from renewable energy, producing zero pollution – its only byproduct is steam. FFI’s ambition is to grow its green hydrogen production to 15 million tpy of green hydrogen by 2030, accelerating to 50 million tpy in the decade thereafter.

Covestro uses hydrogen and its derivatives as feedstock in the production of high-performance polymers. As part of a broader circular economy strategy, the company committed itself to completely transition towards the use of fossil-free alternative raw materials and renewable energies. The partnership with FFI is an important milestone towards this goal.

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/19012022/ffi-and-covestro-enter-into-green-hydrogen-supply-agreement/