Clear Hydrogen UK (CHUK) is set to produce 5mn kg of hydrogen per day after an expansion of its agreement with Proton Technologies.
On 25 April, CHUK signalled its intention to produce clear hydrogen from the UK’s aging offshore oil assets, while also sequestering vast amounts of CO2 as solid carbonate within the same systems, using Proton’s low-cost and environmentally method for making hydrogen. CHUK’s founders invested $3.7mn CAD in Proton to obtain a 20 tonne per day production license for use in the UK and Ireland. The expansion of the agreement is 250 times larger, with a value potentially as high as $925mn CAD for 5,000 tonnes per day.
Terms of this agreement will see 45% ownership of CHUK go to Proton, while Proton provides increased technical support and governance oversight to CHUK’s team.
Grant Strem, Chairman of Proton Technologies, said: “Our mission is to proliferate this hugely-scalable clean energy technology worldwide as fast as we can afford to. Adapting Proton’s hardware solutions to an offshore setting is easily within the technical grasp of experts in the UK, and this partnership with CHUK is good news for the environment and the UK economy generally. The energy sector is roughly $10 trillion per year. We expect to produce hydrogen at a lower energy cost than natural gas; the implications of this are profound.”