Wison New Energies (“Wison”) and H2Carrier AS (“H2Carrier”) are pleased to announce the launch of a new initiative aimed at reducing costs in the production of green ammonia. The parties will leverage Wison's world class EPCIC execution capabilities, cost efficiency and project experience with H2Carrier's project development and floating production competence. The companies' joint aspiration is to significantly reduce the cost of producing and supplying green ammonia through innovation, scale and standardization, applied in resource rich environments with a low cost of electricity. This collaboration aims at the complete delivery of a 500MW Green Ammonia FPSO (floating production, storage and offloading facility) for producing green ammonia in the North of Norway.
The initiative addresses the accelerating need for global decarbonisation and improving energy security. The cost gap between production of clean fuels and fossil alternatives remains too large – despite subsidies and public support, several clean fuel projects including hydrogen and ammonia, have been cancelled or postponed in recent months. Meaningful progress towards a net zero future depends on the renewable industry's ability to produce clean fuels more cost effectively and more competitively compared to fossil alternatives.
In this project exclusive collaboration, Wison is uniquely positioned to provide engineering and design, as well as cost effective construction and integration of the works for the Green Ammonia FPSO. Based on years of EPCIC experience and an excellent track record from floating production vessels, including FPSO and FLNG, Wison will accelerate the time-to-market and reduce risk by being an end-to-end partner.
H2Carrier brings several years of experience from floating production of green ammonia, both from the technical side and as a project developer of complete value chains for floating production of hydrogen derivatives. The selected solution was developed based on experiences from FPSO and FLNG to bring low-cost renewable energy to the end user in a safe and efficient manner using existing and well proven technologies, and has the benefit of minimizing the environmental footprint on land.
Photo of the signing ceremony (Image courtesy of Wison New Energies)
“We are excited to announce this collaboration between Wison and H2Carrier, that will bring to the market the benefits of the potential for low cost of electricity generation in northern Norway and other remote territories worldwide.
Wison clearly sees Power-to-X (P2X) in general and green ammonia specifically as a strategic pillar for growth, and this collaboration confirms our commitment in this direction.We strongly believe in the advantages of this project developed in Norway by H2Carrier, as Norway has always been at the forefront of green developments and is privileged to have one of the largest ship owning bases in the world, an industry with a clear and stated commitment to net-zero.” – says Dr. Huang Yi, President of Europe, Wison New Energies.
“By using remote, low-cost renewable energy in combination with cost-optimized construction, integration and project execution, we aim to achieve the most competitive production cost of green ammonia. This project, as well as our portfolio of international large scale projects based on the use of the P2XFloater™, will enable standardization and replicability which are key factors for achieving efficiencies in construction, integration and project execution. The solution will also enable a shortening of the project cycle time for new P2X developments and thus contribute to improved returns. We are pleased to engage with Wison who we regard as a valuable partner to reach these ambitions and look forward to bringing safe and sustainable energy infrastructure to the market together” – says Mårten Lunde, CEO of H2Carrier AS.
Source: H2Carrier AS