Ideanomics and Palcan Energy partner to develop methanol to hydrogen technology

Ideanomics and Palcan Energy partner to develop methanol to hydrogen technology

Ideanomics Inc. has partnered with Shangahi Bo Hydro New Energy Technology (Palcan Energy Corporation) to deploy methanol to hydrogen technology to existing fuel station networks.

Vancouver-based Palcan produces power systems for the transportation industry that are powered by hydrogen generated from methanol, rather than traditional fuels such as gasoline or diesel.

The agreement allows the use of Palcan’s technology outside of electricity-generation for charging networks, and into other areas of industry, such as hydrogen-based batteries and vehicle charging stations.

The methanol to hydrogen technology will allow fuel station assets, that are typically owned and operated by oil companies or via local independent operators, experience the anticipated financial impact from mass adoption of electric and hydrogen-powered vehicles.

The safe conversion of methanol to hydrogen, to produce electricity that is stored in the fuel cells of charging units, allows for a direct current (DC)-based charging output that reduces the charging time to under ten minutes.

“The partnership with Palcan is part of our NETS division’s goal of providing a range of fast-charging network solutions which are every bit as fast and convenient as the current fuel station networks relied on by consumers and fleet customer alike,” said Alf Poor, CEO of Ideanomics.

“The advantages of methanol, with its hydrogen-rich make-up, and lower carbon footprint, allows for the efficient production of electricity on-site which is important for two reasons. Firstly, it enables the gas station networks to make use of their existing assets, and secondly it avoids significant investment in electrical infrastructure which would otherwise be required.”

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