While much of the limelight is on blue or green hydrogen produced from natural gas and renewable energy respectively, about a dozen energy and technology companies are quietly working to produce turquoise hydrogen whose byproduct could be critical to the electric vehicle market.
“Japan, Korea and China have jumped on this, and they have quite a bit of momentum in Asia around natural gas pyrolysis processes,” Ashcroft said. “It’s not going to be easy, but there’s value to be had in the carbon equation.”In 2021, 95 U.S.
There will be more than 1 million tons/year of graphite demand by 2030 in North America alone, he said. “When we buy petroleum-based coke products, we are almost upcycling those products into a cleaner ecosystem. If those were not distilled all the way down to the coking level, they would likely be sold off as fuel grade cokes or bunker oil for electricity,” Burns said.
“What’s unique with our approach is not using large quantities of electricity, and we produce a little bit of water,” said Zach Jones, C-Zero’s chief executive and cofounder. “If it doesn’t work in Asia, it isn’t going to work anywhere. They don’t have anywhere to sequester CO2. The renewable capacity factor is not very good, and they have a strong societal will to pay a premium to decarbonize. That’s going to be the initial market for this,” Jones said.
Jones said his hope is that natural gas is going to be cleaned up from an upstream methane emission perspective.
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