McPhy and Hytlantic Terminate Collaboration on Green Hydrogen Project
05.28.2024 By Tank Terminals - NEWS

May 27, 2024 [H2 View]- McPhy Energy and Hytlantic have agreed to cancel their cooperation on the GreenH2Atlantic project, which would have seen McPhy provide electrolyser technology.

 

The decision to terminate proceedings followed an “in-depth assessment of the activities performed and outcomes of the partnership over the past few years during project development,” according to a statement released by McPhy.

The statement added that the outlook for the progress of the project activities and results going forward were also taken into consideration for the termination.

The GreenH2Atlantic project planned to install a 100MW electrolysis system to support a hydrogen valley in Sines, Portugal. With 13 companies backing the project alongside McPhy, the construction of the project was expected for 2023 and operation to begin in 2025.

In 2021, a €30m ($33.8m) grant was awarded to the project by the Horizon 2020 – Green Deal Call to help finance it. The initiative is based in a coal-fired power plant area in Sines.

Despite the termination, McPhy has stated it will “continue to focus on implementing its strategy, aiming to become one of the leading electrolyser companies in Europe.”

The statement also read that Hytlantic remains “committed to the development and success” of the GreenH2Atlantic project.

 

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