GRS Hydrogen Solutions has announced the opening of its first European office. The ribbon-cutting ceremony for the new office opening, located in the Prague Stock Exchange, was held last week with much fanfare. GRS Hydrogen Solutions is a Canadian-based renewable energy company that has a focus on the production of Green and Blue Hydrogen. The desire for GRS Hydrogen Solutions to open a European office is multifold. GRS Hydrogen Solutions has now developed several relationships in the European region and has begun working with multiple European governments, the European Union body itself, Eurozone companies, and several universities that have ongoing renewable energy engineering programs and new technology developments.
Second, to strengthening local relationships is GRS Hydrogen Solutions planned listing on Prague’s Stock Exchange. GRS Hydrogen Solutions is currently a 100% privately held company; however, they have been expanding rapidly, with several new projects in many regions around the globe. One of the hottest areas for the development of renewable energy has been Europe, and because of the high interest in the GRS Hydrogen Solutions technologies available to the Eurozone, a growing number of investors have shared their desire to invest in the company. Prague has an ever-increasing economy and, therefore, the right choice for a planned GRS listing on the European Exchange.
The Future of Hydrogen in the EU
Hydrogen is becoming a hot topic for moving the world to a greener future. In a recent announcement from a European Union official website, Thierry Breton, the Commissioner for Internal Market, stated that by 2025, more than 600 projects are planned to be in operation that are along the hydrogen value chain. Breton believes that clean hydrogen will be the way for European industry to transition to a greener future and meet the goals that have been set to be carbon neutral by 2050. To this end, in 2020 the EU set up its European Clean Hydrogen Alliance, which has over 1500 members and supports the development of large-scale clean hydrogen tech by 2030. The Alliance brings together renewable and lower carbon hydrogen production, industry demand, transportation, and other sectors, as well as hydrogen distribution and transmission. It is also promoting the investment in clean hydrogen and stimulating the rollout of hydrogen production and use.
The EU’s Hydrogen Alliance is under the umbrella of the EU’s Hydrogen Strategy. One of the crucial aspects of the Hydrogen Strategy is its ambitious goals for Green Hydrogen production. The Strategy states a “clean hydrogen” goal of having six gigawatts of electrolyzers installed in Europe by 2024. Clean Hydrogen is defined as “Green Hydrogen”. One of the ways of hydrogen production is through the electrolysis of water. Electrolysis separates the Hydrogen from the Oxygen in water. If the electricity behind the electrolysis process is supplied by renewable means (solar, wind, hydroelectric), then the hydrogen produced is ”Green Hydrogen,” and no carbon is released. To put Europe’s six-gigawatt goal into perspective, there are currently only 300 megawatts of electrolyzers in service today, which will mean a near 24 fold increase just in Europe by 2024.
Several funds have been set up to progress the production of hydrogen. Germany has pledged 9 billion Euros ($10.8 billion) to develop renewable hydrogen, with 2 billion Euros allocated for international partnerships. France has pledged 7 billion Euros, of which 2 billion is from recovery funds. Spain, the Netherlands, Scotland, Portugal, and others have also comittend funds for hydrogen production, with the EU body creating a fund totaling 24-42 billion to be spent by 2030 on electrolysis and 11 billion Euros on carbon capture and storage (CCS).
Blue Hydrogen and Beyond
Another way to make hydrogen is through steam methane formation, this product is called “Grey Hydrogen,” because it produces about 10–12 kg of CO₂ per kilogram of hydrogen. GRS Hydrogen Solutions has a process of CCS that can capture the carbon dioxide for use in other industries rather than release it. This resulting hydrogen is called “Blue Hydrogen.” Though more polluting, Grey Hydrogen has a significant cost of around 2 Euros/ kg to produce while Green Hydrogen is as much as 6 Euros/kg to produce. Through the planned development scheme, European Commission President Ursula von der Leyen believes that the price to produce Green Hydrogen can get down to 1.8 Euro/kg by 2030. Until then, the production of Blue Hydrogen will be the less polluting yet cost-effective solution between Grey and Green Hydrogen, and GRS Hydrogen Solutions is in the perfect position to take advantage of both Blue and Green pathways.
GRS Hydrogen Solutions Moving Forward
To continue their Blue and Green Hydrogen production innovations in Europe and beyond, GRS Hydrogen Solutions has been working with several European governments and universities. GRS is working together with these groups to develop new technologies and share their existing technologies to ensure advancement in the hydrogen race to reduce carbon emissions and move these budding industries forward. These relationships are not only in Europe, but GRS has provided advanced technologies to several top universities around the globe and continues to work with schools and governments in Canada, Europe, and the Middle East on green fuel technologies and emission reduction programs. The goal is to take what has already been accomplished at GRS and build on it for the future.
According to GRS, Prague may not be the only stock exchange listing that they are in the process of seeking. GRS has informed us that they have the intention to list on Canada’s Toronto Stock Exchange (TSX) as well and have already begun the process of assembling the needed paperwork to do so.