HydrogenPro's partner, DG Fuels, signs key land agreement in Maine

News provided by

Nov 16, 2022, 02:58 ET

PORSGRUNN, Norway, Nov. 16, 2022 /PRNewswire/ -- Reference is made to recent press release from DG Fuels regarding the execution of a long-term lease agreement with the Loring Development Authority for 1,240 acres of contiguous land in Aroostock County, Maine. This will be the site of DG Fuels' second SAF (Sustainable Aviation Fuel) facility, and the project will break ground in the Summer of 2024.

The long-term lease agreement in Maine comes on top of DG Fuels recently securing 100% offtake from its first project in Louisiana, thus increasing the solidity of the business case. HydrogenPro has secured its position as supplier of water electrolysers to the DG Fuels projects, which will have an initial output of approximately 175 million gallons SAF per year. In total, HydrogenPro will supply green hydrogen technology with a capacity of approximately 1.7 GW to the Louisiana and Maine projects.

"The long-term lease agreement is of great strategic value and reaffirms our belief in the DG Fuels project. SAF will play a vital role in decarbonising the aviation industry, especially because it can be mixed with conventional fuel today, without the companies having to make big investments to engines or fuel tanks. We look forward to supplying the green hydrogen technology that will fuel the shift within the aviation industry," says Richard Espeseth, interim CEO and founder of HydrogenPro.

Sustainable aviation fuel from DG Fuels is expected to remove an estimated 1.5 million tons of CO₂ out of the atmosphere annually. Compared to conventional fuel, the use of SAF can reduce emissions by an average of 80% and is considered more energy efficient. Hence, it provides airlines with operational advantages in addition to its environmental contributions.

About HydrogenPro:

HydrogenPro is a technology company and an OEM for high pressure alkaline electrolyser and supplies large scale green hydrogen plants, all ISO 9001, ISO 45001 and ISO 14001 certified. The Company was founded in 2013 by individuals with background from the electrolysis industry which was established in Telemark, Norway by Norsk Hydro in 1927. We are an experienced engineering team of leading industry experts, drawing upon unparalleled experience and expertise in the hydrogen and renewable energy industry.

Contact:

Martin Thanem Holtet
+ 47 922 44 902
[email protected]

SOURCE HydrogenPro AS