Hydrogenious Technologies receives 2.3 million in SME Instrument EU funding
February 28th, 2017
The SME Instrument is part of the European Union`s Horizon 2020 programme, where a total of up to 3 billion are invested in 7500 projects of highly innovative small to medium enterprises by 2020. Hydrogenious Technologies’ proposal to develop the next generation of highly dynamic, fully automated next generation hydrogen release systems (our ReleaseBOX), reducing price, complexity and delivery time and to successfully execute full commercial roll-out in EU countries convinced the EU experts jury in the recent round of Phase 2 SME instrument calls. The project has a total volume of 3.3 million with a total EU contribution of 2.3 million.
The ‘Hydrogenlogistics’ project
The project ‘Hydrogenlogistics’ is aiming to reduce the operating cost of hydrogen transport by up to 80% and open up new business opportunities for users of Hydrogenious’ patented LOHC technology. In the long term, LOHC technology will allow smart integration of renewable energy by enabling hydrogen mobility and sector coupling and will thus help decarbonize the world. Initially, Hydrogenious plans to focus on the market for hydrogen logistics, followed by the market for mobility refueling solutions (fuel cell vehicles). The goal of the Phase II project is to successfully execute commercial roll-out in EU countries. The LOHC technology can be an important enabler for a strong European hydrogen economy and has the potential to create many thousands of indirect jobs.
The project has received funding from the European Union`s Horizon 2020 research and innovation programme under grant agreement No 757082.
The LOHC technology
Hydrogenious Technologies is a pioneer and global industry leader in the field of hydrogen storage and transportation in Liquid Organic Hydrogen Carriers (LOHC). Hydrogen is a chemical energy carrier widely used in a range of industrial applications with large growth potential in the field of low-emission mobility and energy. However, due to the low density of hydrogen gas, storage and transportation of hydrogen using today`s technologies is technically challenging, inefficient and very expensive. Hydrogenious’ patented technology enables safe and cost-efficient high-density hydrogen storage in an easy-to-handle oil, thus eliminating the need for pressurized tanks for hydrogen storage and transportation. The LOHC used is non-toxic, almost inflammable, and offers a five-fold increase in storage capacity, compared with standard high pressure technology.