Scale Microgrids secures financing to deliver electricity and clean heat from HyAxiom

The project, which is paired with a thermal loop, was acquired pre-construction from NuPower. Investec and MUFG will provide debt financing and Foss & Co will provide tax equity for the project, which Scale Microgrids will finance as well as build, own, and operate over its lifetime.

HyAxiom will fabricate, install, and operate the fuel cells for the project. These fuel cells will convert natural gas into hydrogen through a steam methane reforming (SMR) process, and generate combustion-free electricity through an electrochemical process. The heat, which is a natural by-product will be captured for use in a 1.6 mile-long thermal loop in Bridgeport’s South End, Connecticut, US.

“This project provides an opportunity to deploy clean energy technology to drive economic reliability and sustainability outcomes in Bridgeport,” said Julian Torres, Chief Investment Officer at Scale Microgrids.

The project will deliver multiple benefits to the local Bridgeport community and Connecticut, US, more broadly. The thermal loop will supply heat and hot water for the University of Bridgeport, Approved Storage and Waste Hauling, and Bassick High School, reducing their operating costs and enabling them to cut their greenhouse gas emissions (GHG) by a combined 8000 tpy. The reliability of the UI electricity grid will also benefit from the locally-produced baseload power.

Connecticut’s growing clean energy economy will also benefit from the project, which is expected to create roughly 100 jobs during its construction phase. A significant portion of the project contracting has been awarded to local MBE contractors. It also represents the largest US project to date for HyAxiom, and it will utilise their South Windsor, CT-based manufacturing facility. Finally, it underscores Scale’s Microgrids growing business in Connecticut, including its operations of the city of Bridgeport’s municipal microgrid and several battery energy storage system (BESS) projects under development across the state that will benefit schools and businesses.

The project may be expanded to service other locations in the city at a future date.

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/19032025/scale-microgrids-secures-financing-to-deliver-electricity-and-clean-heat-from-hyaxiom/