Jera invests in German hydrogen transportation firm
Jera America, a unit of Japan’s Jera, has invested in Germany’s Hydrogenious LOHC Technologies, the Japanese firm said on September 13. This is a joint investment with Temasek, Chevron Technology Ventures and Pavilion Capital, and Jera Americas is a lead investor with an investment of approximately €15mn ($17.7mn).
Hydrogenious has been developing hydrogen storage and transportation technology. It possesses the technology of liquid organic hydrogen carrier (LOHC) as one of hydrogen energy carriers. Hydrogenious LOHC uses benzyltoluene as carrier medium, and hydrogen is chemically added by hydrogenation process. The world's largest LOHC plant is being built by Hydrogenious in Dormagen, Germany, with commissioning scheduled in 2023.
“By investing in the company, Jera will strive to acquire knowledge of LOHC technology, a potential game-changer as a hydrogen energy carrier, and will support the development of LOHC plants in Europe, North America, Asia etc., thereby contributing to establishing hydrogen supply chains globally,” the company said.
Jera said it has been working to eliminate CO2 emissions from its domestic and overseas businesses by 2050, promoting the adoption of greener fuels and pursuing thermal power that does not emit CO2 during power generation.
“Jera will continue to contribute to energy industry decarbonisation through its own proactive efforts to develop decarbonisation technologies while ensuring economic rationality,” it added.