December 26, 2024 [Yahoo Finance]- PBR, the Brazilian state-owned energy company, has signed a Protocol of Intent with Companhia Siderúrgica Nacional (“CSN”) and CSN Inova Soluções to develop a low-carbon hydrogen plant in Brazil. The agreement, which marks the beginning of a business partnership between the companies, is aimed at building a commercially viable low-carbon hydrogen plant in Paraná, Brazil.

Low-carbon hydrogen can be used for various industrial processes and as a clean fuel. It can help reduce the carbon footprint of several industrial processes. The hydrogen would be obtained by electrolysis, which involves splitting water into hydrogen and oxygen using electricity. The electricity used in the process shall be obtained from renewable sources. However, Petrobras has not specified the renewable energy sources that would be used to power the production process.

Both CSN and Petrobras aim to decarbonize their operations through this initiative. Notably, Petrobras’ move aligns with its Strategic Plan 2050 and Business Plan 2025-2029. Signing the Protocol of Intent shows PBR’s commitment to lowering its carbon emissions from operations and increasing the availability of sustainable products. Petrobras’ Strategic Plan 2050 and Business Plan 2025-2029 mention the company’s long-term vision to become a leader in driving fair energy transition.

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