Hy Stor Energy Developing First-Ever U.S. Zero-Carbon Green Hydrogen Storage Hub
Today, Hy Stor Energy LP (Hy Stor Energy) announced its mission to develop and advance the production, storage and delivery of green hydrogen at scale in the United States. Hy Stor Energy, together with its strategic partner Connor, Clark & Lunn Infrastructure (CC&L Infrastructure), will develop, commercialize, and operate large-scale, long-duration hydrogen hubs that will serve as a model for our nation’s green hydrogen development efforts going forward. The first major project, the Mississippi Clean Hydrogen Hub, is under active development and has multiple sites permitted for hydrogen storage.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211019005429/en/
The planned scale of the Mississippi Clean Hydrogen Hub is up to 10 times larger than any other green hydrogen project under consideration in the U.S. and would be one of the largest in the world. During its first phase, the Mississippi Clean Hydrogen Hub is expected to produce an estimated 110 million kilograms (kg) of green hydrogen annually and store more than 70 million kg of green hydrogen in its underground salt caverns. Pending regulatory approvals and equipment availability, the hub’s first phase is planned to enter commercial service by 2025.
“Mississippi's well-established and robust energy network is strategically positioned to support Hy Stor Energy and the growth of a Mississippi hydrogen hub. We welcome this innovative opportunity to share our unique salt dome storage capacity and our trained workforce,” said Lieutenant Governor of Mississippi Delbert Hosemann.
“The biggest challenge the energy transition faces today is how to bridge the gap to allow renewables to replace fossil fuel electric power generation safely and reliably. In an era of increasingly frequent extreme weather, it’s imperative to have the ability to store large quantities of renewable energy capable of providing multiple days of power over long periods of high demand,” said Laura L. Luce, CEO of Hy Stor Energy. “We believe the approach we’re taking in Mississippi will become the blueprint for future green hydrogen projects that not only address the energy transition challenges we face but also bring new jobs, economic revitalization, and low-cost energy to communities in the region. We see this as an important way of advancing U.S. climate leadership.”
“Green hydrogen will play a vital role in the decarbonization of our global societies by offering a viable pathway towards zero emissions,” said Claire Behar, CCO of Hy Stor Energy. “Hy Stor Energy will serve customers across a variety of industries including transportation, power generation, and difficult to decarbonize sectors, such as manufacturing and industrials, where green hydrogen can replace fossil fuels.”
This project will greatly benefit the state of Mississippi’s economy and environment by providing reliable clean energy, while stimulating growth for the long term. The development and commercialization phases are expected to create hundreds of new jobs and attract new manufacturing and industrial companies to the state. The Mississippi Clean Hydrogen Hub will also bring education and workforce development opportunities, supporting the transition to a local and resilient green hydrogen energy system.
“We’re excited to welcome Hy Stor Energy and hydrogen innovators to Mississippi,” said Speaker of the Mississippi House of Representatives Philip Gunn. “Their investment and eventual success here will improve workforce development, bring high paying jobs to our state, and encourage other businesses to invest in the talent and infrastructure we’ve built together.”
“We have worked with a number of cutting-edge and innovative hydrogen-related projects across the world,” said Matt Weaver, Business Lead – North America of Nel Hydrogen. “Based on that experience, we believe that the Mississippi Clean Hydrogen Hub proposed by Hy Stor Energy is truly groundbreaking and can serve as a model for green hydrogen efforts going forward.”
Hy Stor Energy selected Mississippi to develop its first green hydrogen hub because of the state’s distinct geology, strategic geographic location, abundance of available water and renewable energy from the sun and wind, and collaborative business environment. The region boasts multiple naturally occurring underground salt formations that can support development of large caverns, allowing for the safe and effective storage of several years’ worth of green hydrogen. These strategic locations are enhanced by the proximity to existing infrastructure including an array of interstate gas transportation pipelines and electric transmission lines, as well as interstate highways, rail lines, deep water ports, and the Mississippi River.
About Hy Stor Energy
Hy Stor Energy is facilitating the transition to a fossil-free energy environment by developing and advancing green hydrogen at scale through the development, commercialization, and operation of green hydrogen hub projects. Large, fully integrated projects produce, store, and deliver 100% carbon-free energy, providing customers with safe and reliable renewable energy on-demand. Developed as part of an integrated hub, these projects couple on-site green hydrogen production with integrated long-duration storage and distribution – using scale to reduce costs. Hy Stor Energy, led by energy storage industry and hydrogen technology veteran Laura L. Luce, has an innovative team with deep expertise and is positioned as a leader in the green hydrogen revolution. For more information, please visit www.hystorenergy.com.
About Connor, Clark & Lunn Infrastructure
CC&L Infrastructure invests in middle-market infrastructure assets with highly attractive risk-return characteristics, long lives and the potential to generate stable cash flows. The firm has been an active investor and owner of renewable energy assets for more than 15 years. Its portfolio includes more than 60 hydro, solar, and wind facilities totaling 1.4 GW of clean energy generating capacity globally. CC&L Infrastructure is a part of Connor, Clark & Lunn Financial Group Ltd., a multi-boutique asset management firm whose affiliates collectively manage over CAD$100 billion in assets. For more information, please visit www.cclinfrastructure.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Silverline on behalf of Hy Stor Energy LP
Connor, Clark & Lunn Infrastructure
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Forty Years on From the Start of the HIV Epidemic, New Data Reveals People Living With HIV Face Outdated Attitudes and Ongoing Discrimination1.12.2021 03:01:00 EET | Press release
Pervasive stigma and prejudice towards people living with HIV continues to persist, according to a new international survey released today on World AIDS Day. Funded by ViiV Healthcare, the global specialist HIV company majority owned by GlaxoSmithKline Plc (“GSK”), with Pfizer Inc. and Shionogi Limited as shareholders, the survey uncovers outdated attitudes and inherent bias amongst the general public towards people living with HIV. An overwhelming majority (88%) of respondents believe there are still negative perceptions towards people living with HIV, even though it can now be effectively managed with antiretroviral (ARV) medication. Concerningly, almost a third (30%) of people surveyed incorrectly believe HIV can be transmitted through kissing. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211130006152/en/ The survey, conducted online by The Harris Poll, surveyed 5,047 adults across four countries, Australia, Portugal, U
Japan Domestic Flights Scheduled for Recovery in Q1 2022: Cirium Survey Reveals Sapporo and Okinawa as Top Destinations1.12.2021 03:00:00 EET | Press release
The majority of Japanese travelers intend to take to the skies again, with 80% planning to travel in the next 12 months for leisure purposes (83%) and to domestic destinations, according to the new Cirium Traveler Intelligence Report. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211130006033/en/ Aviation analytics company Cirium records a noticeable increase in intention to travel across other markets surveyed, while travelers in Japan continue to be wary of the potential risks from COVID-19. International travel is likely to remain difficult, however, there are encouraging indicators of recovery in Japanese domestic markets. Cirium data shows domestic traffic in Japan at 54% of 2019 levels, above the 49% average seen across APAC domestic markets excluding China. Additionally, Cirium schedules data shows Japan is projected to reach 93% of 2019 Q1 traffic in the first quarter of 2022. The recovery of international flights c
Andersen Global Enters the Bolivian Market1.12.2021 02:16:00 EET | Press release
Andersen Global expands its Latin American coverage through a Collaboration Agreement with Bolivia-based law firm Indacochea & Asociados (IA) located in Santa Cruz de la Sierra. Founded in 1991, IA operates with six Partners and more than 40 professionals, offering full-service legal capabilities in arbitration, banking, corporate and commercial, civil law, dispute resolution, immigration, intellectual property, foreign investment, mergers and acquisitions, legal tech and startups, labor and real estate. The firm, consistently recognized by Chambers & Partners and the Legal 500, is led by Managing Partner Alonso Indacochea Pardo de Zela. “Our clients look to us to provide them with best-in-class service that enables them to succeed in today’s business environment. At IA, we changed the chip and became liquid lawyers, legal and business-oriented professionals with an open mindset to adaptability,” said Alonso. “Our collaboration with Andersen Global will allow us to offer our clients th
Schlumberger Announces Redemption of 100% of Outstanding 2.40% Senior Notes Due 20221.12.2021 01:00:00 EET | Press release
As part of its ongoing commitment to debt reduction, Schlumberger Limited (“Schlumberger”) today announced that Schlumberger Investment SA, an indirect wholly-owned subsidiary of Schlumberger (“SISA”), will redeem the entire outstanding principal amount of its 2.40% Senior Notes due 2022 (CUSIP Nos. 806854AD7 / L81445AD7; and ISIN Nos. US806854AD77 / USL81445AD75) (the “Notes”). The redemption date for the Notes is May 2, 2022 (the “Redemption Date”). The aggregate principal amount of the Notes outstanding is $1,000,000,000. SISA has deposited sufficient funds with The Bank of New York Mellon, the trustee under the indenture governing the Notes, to satisfy and discharge the Notes and the indenture with respect to the Notes (including payment of the February 1, 2022 interest payment with respect to the Notes and the redemption price payable on the Redemption Date), and the trustee has acknowledged such satisfaction and discharge. The Notes will be redeemed on the Redemption Date at a re
ITT’s Connector Business Introduces Veam MOVE-MOD™, Delivering True Modularity in Circular Interconnects30.11.2021 19:03:00 EET | Press release
November 30, 2021-- ITT Inc.’s (NYSE: ITT) connector business introduces its ruggedized, modular circular series Veam MOVE-MOD™. The flexible design delivers power, signal, and data in a single connector by utilizing a range of snap-in modules with various contact layouts to match individual system requirements. Developed for use in harsh environments, these ultra-durable connectors are suitable for a wide range of applications, including rail, heavy and off-road vehicles, alternative energy and infrastructure, robotics, and other industrial equipment. “Our customers have relied on Veam connectors to overcome their critical challenges for more than 60 years. MOVE-MOD is a next-generation solution designed to meet their evolving needs,” says Ellen McMillan, Vice President and General Manager Europe, ITT Connect and Control Technologies. “The modular nature of these innovative connectors give long-term flexibility to adapt, convert and expand connectivity post-design-in by simply swappin
Interactive Brokers Expands Tools for Global Investors30.11.2021 18:00:00 EET | Press release
Interactive Brokers Group (Nasdaq: IBKR), a global brokerage firm, today introduced GlobalAnalyst, a new tool that lets investors compare the relative valuations and financial metrics of stocks globally. GlobalAnalyst is designed for investors interested in international portfolio diversification to discover undervalued companies that may have greater growth potential. Recognizing that it can be challenging for investors to evaluate the relative merits of stocks traded in different currencies, Interactive Brokers created a simple yet powerful tool to compare any number of stocks by various metrics in one of 27 currencies of the user’s choice. Similarly, users may buy and sell and follow these stocks in the currency of their choice, all in one account on one screen. Using GlobalAnalyst, investors can search for stocks by region, country, industry, market capitalization and currency to identify undervalued stocks worldwide. A table displays current market and various financial metrics, s
New 7197PCP-DIN-NX Controller Improves Operational Efficiency by Allowing Centralized Control of Volumetric Dispensing Pumps30.11.2021 17:15:00 EET | Press release
Nordson EFD , a Nordson company (NASDAQ: NDSN) and leading precision fluid dispensing systems manufacturer, introduces the 7197PCP-DIN-NX controller for 797PCP progressive cavity pumps. This controller provides Ethernet connection with Transmission Control Protocol / Internet Protocol (TCP/IP) for Smart Factory and Industry 4.0 manufacturing integration. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211130005031/en/ Improve operational efficiency by programming 797PCP volumetric dispensing pumps directly from a PLC via 7197PCP-DIN-NX controllers. (Photo: Business Wire) “This is enabling technology that allows our customers to be more lean, more efficient, more productive and more versatile as we prepare to enter fourth industrial revolution,” said Claude Bergeron, Senior Product Line Manager, Nordson EFD. “By helping manufacturers prepare, we ensure they won’t get left behind as Smart Factories transfer significant value to
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom