Phillips 66 and Plug Power have today (Oct 13) unveiled a memorandum of understanding (MoU) that will see the groups collaborate on the development of low-carbon hydrogen opportunities.
As part of the agreement, the companies will look to implement Plug Power’s hydrogen technology within Phillips 66’s operations to enable decarbonisation in addition to creating a value chain for hydrogen.
Plug Power will benefit from Phillips 66’s capabilities as a developer of large-scale energy infrastructure, operator of industrial-scale hydrogen production facilities, and presence in the fuels marketing segment in the US and Europe.
This will give the company greater reach into the energy sector and could support the global energy transition by providing hydrogen solutions to existing customers.
The MoU will also cover integrating and scaling low-carbon hydrogen in the industrial sector, advancing hydrogen fuelling opportunities for the mobility sector, and developing hydrogen-related infrastructure to support the build-out of the hydrogen value chain.
David Bow, Executive Vice-President of Electrolysers Solutions at Plug Power, said, “We are excited to team up with Phillips 66 to take advantage of its rich history in the energy industry and forward momentum in the energy transition.
“Phillips 66 stands to help us meet our goal of producing 1,000 tonnes per day of green hydrogen while deploying cost-efficient solutions within the renewable fuels sector.”
US DOE, General Motors, Microsoft and Plug Power
What does the US Department of Energy (DOE), General Motors, Microsoft and Plug Power have in common? They’re all speaking at H2 View’s North American Virtual Hydrogen Event in October. Will you be joining us on October 19?
North America is in a prime position to lead efforts in decarbonisation, but it still has great distances to travel. The region has been giving chase in a race to green hydrogen dominated by Europe and Asia-Pacific. If policymakers and industry can work together and take the right steps to realise a hydrogen vision, the region is perfectly placed to expand its global energy leadership at scale and speed.
What lessons can be learned from Europe’s policymakers? What are the challenges to be overcome? What are the strengths and opportunities? How can North America go from giving chase to taking a lead in hydrogen? These are all questions our virtual event will address across H2 View’s four pillars of Mobility, Power, Policy and Technology.
Further information on the event, agenda and confirmed speakers can be found here.
To book your virtual delegate pass, click here.