The funds will be used by KEY's Hydrogen Optimized subsidiary to advance the commercialization of its RuggedCell™ high current water electrolysis system. The resulting commercial product will enable Green Hydrogen production systems up to 200 megawatts and provides a stepping-stone to systems up to 400 MW.
"SDTC's funding represents a major step toward realizing our goal of providing industry-leading, cost-effective and highly efficient water electrolyzer technology at scale," said Andrew T.B. Stuart, Chair, President and CEO of KEY DH Technologies. "We thank SDTC for its vote of confidence in our company and technology, and for its support in accelerating our progress. Our goal is to be the world leader in the provision of large-scale Green Hydrogen production systems, which will assist major industries to significantly reduce their carbon emissions."
"Our commitment to advance Canada's 2050 net-zero targets is strengthened by supporting climate tech entrepreneurs who are finding innovative solutions to drive the green economy forward. SDTC is proud to invest in KEY's project which has the potential to significantly reduce carbon emissions and help build a cleaner and greener future for all," said Leah Lawrence, President and CEO, SDTC.
The project builds upon the previously announced collaboration between Hydrogen Optimized and ABB to demonstrate the combined technological approach of each company to Green Hydrogen production.
ABB provided the following statement, "ABB's High Power Rectifier System technology fits well with the unique Hydrogen Optimized approach to large-scale Green Hydrogen production. ABB sees this funding as a positive reinforcement of the patent pending technology that Hydrogen Optimized has. ABB is pleased to see this funding that will contribute to the high current
testing facility and other activities as outline in the MoU which supports the Green Hydrogen transition. ABB looks forward to further ongoing collaboration with Hydrogen Optimized."
Also involved in the project is Hatch, a global engineering, project management and professional services firm with expertise in Green Hydrogen production installations. "We are pleased to contribute to this project to advance an EPCM solution for the Hydrogen Optimized RuggedCell system," said Jim Sarvinis, Managing Director, Power at Hatch.
Hydrogen Optimized has established its headquarters and technology and manufacturing center in Owen Sound, Ontario, in the heart of the Grey-Bruce Hydrogen Hub.
"Congratulations on this phenomenal achievement and recognition of your transformative work," said Bruce County Warden Janice Jackson. "The Bruce region has the economy, location, natural resources, readiness to build, and project partners required to become a leader in clean hydrogen technology, research and innovation. The Hydrogen Optimized SDTC project will demonstrate our region's capabilities to advance innovations in large-scale
hydrogen production systems."
Hydrogen Optimized's RuggedCellT Green Hydrogen production systems are targeted to major industrial, chemical, utility and energy end users.
According to a 2020 Goldman Sachs report, the Green Hydrogen market in Europe alone could reach $12 trillion by 2050.