“Oryx Green Adriatic Blue”, a joint venture by ECUBES and Hydro X, builds a vertically integrated hydrogen business to import up to 10% of EU Hydrogen needs engaging in a collaborative, partner-centric approach for large quantities of affordable green hydrogen to be delivered into the North Adriatic Hydrogen Ecosystem. This business concept enables ECUBES to build the supply chain on midstream and upstream concurrently,
Aleksander Gerbec, founder, ECUBES: ” After ten years of development and preparation, we are proud to share the milestone of the first delivery of hydrogen to the region of the North Adriatic using this innovative carrier and the application in seasonal storage being so widely adopted. This is only possible thanks to all partners in the Ecosystem started by the NAHV addressing primarily hard-to-abate sectors like steel and cement producers, heavy vehicles transportation like ferries powered by hydrogen, and grid operators, supported by governments and educational institutions.”
“We use the carrier that allows for cheap, safe transport as it is retrofittable with existing infrastructure, allows us to develop a hydrogen production in places where solar can be produced more efficiently than halfway the North Pole creating economies of scale,” emphasises Werner Groenendijk, Chief Financial Officer of ECUBES.
“We can use tankers to transport replacing containers creating economies of scale. Hydrogen only becomes affordable when three aspects are addressed simultaneously: the hydrogen carrier, renewable energy production around equator at scale and the economies of scale are achieved both at the production and the transportation level. ECUBES successfully addresses all three aspects,” concludes Groenendijk.
“Hydrogen only becomes affordable when three aspects are addressed simultaneously: (1) an hydrogen carrier that is simple, safe and cheap preventing costs for safety in ports and storage, (2) we can use tanker vessels to transport replacing containers creating economies of scale in transport, and (3) renewable energy production at places where solar and wind are in abundance and cheap. Only with economies of scale with efficient upstream, and midstream we can achieve affordable energy for European industries in hard to bate sectors. ECUBES and all its partners, successfully address all three aspects,” concludes Groenendijk.
Assaf Sayada, CEO of HYDRO X, a joint venture with several non-European large conglomerates and ECUBES, which provides the equipment for conversion and reconversion for which ECUBES, holds an exclusive license. “We are extremely pleased with the leading role ECUBES provides in deployment of the carrier which allows for 60 percent less capex than ammonia as a carrier, 75 percent less energy loss and is not toxic and not inflammable. It is retrofittable to all existing infrastructure: ports, vessels, water tanks, making it easy, affordable and safe to scale. We see how ECUBES with activities in upstream, midstream and an EU Flagship for downstream provides for us a one-stop shop to further growth.”
Groenendijk foresees that EUBES can deliver green hydrogen at a 7 euro per kg in 2025. When the upstream is at even more favourable locations at scale in 2027-28, it is possible to deliver green hydrogen at a cost price of 5 euro per kg and the path to 3 euro per kg by early 2030s. This puts green hydrogen at par with today’s fossil-fuel prices.