Vopak, Hydrogenious form JV for hydrogen logistics biz
SUMMARY
The joint venture will be located in Germany and will support both parties to facilitate their efforts to supply green hydrogen to off-takers, using LOHC-based transportation.
By Shardul SharmaVopak and Hydrogenious LOHC Technologies will incorporate an equal joint venture, named LOHC Logistix, for hydrogen storage, transport and supply based on the latter’s liquid organic hydrogen carrier (LOHC) technology, Vopak said on January 4.
Germany-based Hydrogenious LOHC Technologies uses the thermal oil benzyl toluene as a liquid organic hydrogen carrier (LOHC-BT), which is already well-established in the industry as a heat transfer medium and has ideal properties for safe handling in ports, Vopak said.
LOHC Logistix will be located in Germany and will support both parties to facilitate their efforts to supply green hydrogen to off-takers, using LOHC-based transportation via ship, train, tanker, etc. The incorporation of the joint venture is subject to customary closing conditions.
For transportation and supply, it will purchase hydrogenation as well as dehydrogenation services from/at the respective LOHC plant operating companies and organize transport, Vopak said.
The parties will also accelerate the establishment of the LOHC storage plant planned at Chempark Dormagen, as well as a release plant in Rotterdam with a release capacity of 1.5 metric tons/year of hydrogen.
"Worldwide there exists a huge capacity of storage tanks, sea vessels, inland tankers and tank trucks for the storage and transportation of liquid fossil fuels. Hydrogenious wants to turn all this valuable infrastructure into the hydrogen infrastructure of the future using our LOHC technology,” Daniel Teichmann, CEO at Hydrogenious LOHC Technologies, said.
Vopak became involved as a strategic investor in Hydrogenious LOHC Technologies in 2019 with a shareholding of around 10%.
"This investment is well in line with Vopak's strategy to accelerate its portfolio investments towards new energies and sustainable feedstocks. We believe that different types of hydrogen logistics need to be developed to be able to facilitate the needed future flows of hydrogen and hydrogen carriers,” Vopak CEO Dick Richelle said.
