December 03, 2024 [CorPower Ocean]- SwitcH2 is partnering with CorPower Ocean to deliver a unique industrial scale floating green ammonia production facility partially powered by wave energy.
With backing from Norway-based BW Offshore and Dutch Oceans Capital, SwitcH2 is leading the development of industrial-scale offshore green hydrogen and green ammonia production units based on proven FPSO (floating production, storage, and offloading) technologies.
The concept, which sees electrolysers powered by a mix of renewables including wind and solar, will now incorporate wave energy to ensure a greater balance of green electricity.
Supported by grant funding from the Dutch Government’s GroenvermogenNL TSE (Top Sector Energie) scheme, SwitcH2 is aiming to launch a new open-sea project in northern Portugal utilizing CorPower Ocean’s wave energy technology.
SwitcH2’s NH3-FPSO unit involves the use of a new built vessel, nearly the size of a VLCC (Very Large Crude Carrier), to support a 300MW electrolysis plant on deck. The final output is green ammonia, which is temporarily stored in pressurised tanks in the vessel and then exported to shore via dedicated shuttle carriers. The floating facility is expected to reach an annual production capacity of almost 300 kton of green ammonia – enough to fuel multiple oceangoing vessels for a full year. The project anticipates green ammonia production by 2029.
With an established role in the global fertilizer market, the green ammonia market is expected to grow from USD 0.7 billion in 2024 to USD 55 billion by 2032. Because of its high energy density and ease of storage, green ammonia also holds major significance as the preferred fuel choice to decarbonize the global shipping industry – responsible for roughly 3% of global emissions.
SwitcH2 Director and co-founder Saskia Kunst said: “We are extremely pleased with our collaboration with CorPower Ocean as integrating their promising wave energy adds economic benefits to our already competitive offshore production system. Jointly we look at a buoyant market for green ammonia which is set to expand 6-fold between now and 2050. Our project will contribute to decarbonize also hard to abate sectors such as global shipping.”
CorPower Ocean Commercial Director Kevin Rebenius said: “Wave energy is one of the largest untapped energy source in the world. It’s renewable, accessible, and abundant. Crucially, it’s also highly consistent bringing greater stability to the clean energy mix, enabling 24/7 renewable electricity supply allowing industrial processes like this to run at high utilization. We look forward to working with fellow tech pioneer SwitcH2 with a shared vision for a cleaner, brighter future powered by renewables.”
SwitcH2 is expanding its portfolio beyond its initial project in Portugal, actively pursuing a range of high-impact opportunities. These include plans in West Africa, focused on ammonia export for markets in Northwestern Europe, and projects in the Dutch sector of the North Sea aimed at hydrogen export feeding into the Dutch national hydrogen backbone. These initiatives are pivotal to advancing SwitcH2’s gigawatt-scale ambitions.
“A floating production system is by definition a mobile asset which we will build where this is cheapest and which can be deployed around the globe, wherever we have access to attractively priced wind, wave, and/or solar energy,” added Ms Kunst.
Meanwhile, CorPower Ocean recently announced the largest single investment in its wave energy technology after securing EUR 32 million Series B1 funding, marking a significant development for wave energy which is accelerating towards a bankable mainstream energy source.
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