- PyroGenesis (PYR) will soon launch a new hydrogen production process with zero carbon emissions
- The process is now entering a testing phase to convert methane to hydrogen
- The conventional zero-carbon emissions process, water electrolysis, is extremely expensive, entails high energy usage and uses rare earth materials
- The company’s technology boasts a theoretical electricity cost that is three times lower to produce the same amount of hydrogen
- PyroGenesis Canada designs, develops, manufactures and commercializes sustainable plasma processes and solutions
- PyroGenesis (PYR) closed up by 7.67 per cent trading at $4.07 per share
PyroGenesis (PYR) will soon launch a new hydrogen production process with zero carbon emissions.
The process is expected to compete with conventional technologies and is now entering a testing phase to convert methane to hydrogen.
The conventional ZCE process, water electrolysis, is extremely expensive, entails high energy usage and uses rare earth materials, while PyroGenesis’ technology boasts a theoretical electricity cost that is three times lower to produce the same amount of hydrogen. The technology would also be easily scalable, and its capital cost per hydrogen production unit is comparable to that of steam methane reforming technology.
The combustion of ZCE hydrogen for heating in industrial processes and transportation generates water vapour as a combustion byproduct, thus reducing greenhouse gas emissions worldwide.
In the iron and steel manufacturing industries alone, the consumption of ZCE hydrogen is projected to increase from 0.5 million tons per year in 2020 to 12.5 million tons in 2030.
The company has filed international patent application No. PCT/CA2021/000099 with the World Intellectual Property Organization entitled, “Hydrogen production from hydrocarbons by plasma pyrolysis”.
P. Peter Pascali, CEO and Chair of PyroGenesis, stated,
“The conventional method to produce hydrogen is called steam methane reforming, which produces greenhouse gases as a result. Another technology used to produce hydrogen is called water electrolysis. It has been around for many years and is considered to be a ZCE technology.
PyroGenesis’ new technology is expected to combine the best of both worlds; it is expected to be cheaper than any existing hydrogen process while at the same time producing ZCE hydrogen. The hydrogen generated by this process is referred to as turquoise hydrogen.
The company does not expect that this new process would compete with its iron ore pelletization offering, where fossil fuel burners are replaced with plasma torches, but, in fact, would complement these plasma torch offerings by providing a hydrogen alternative elsewhere in the manufacturing process.”
PyroGenesis Canada designs, develops, manufactures and commercializes sustainable plasma processes and solutions.
PyroGenesis (PYR) closed up by 7.67 per cent trading at $4.07 per share.