Egypt signs a memorandum of understanding with Germany’s H2 Industries Company to build the world’s first plant converting waste into hydrogen in Port Said.
The plant, costing an investment value of 4 billion dollars, will be located in East Port Said, and will be consuming 4 million tonnes of organic waste and non-recyclable plastics, converting them into 300,000 tons of green hydrogen annually through the process of electrolysis.
The collected organic waste is said to be “secured at the Mediterranean entrance to the [Suez] canal”, according to H2 Industries Company’s executive chairman: Michael Stusch, who announced the receival of all required approvals from The Suez Canal Economic Zone (SCZONE).
After being converted to hydrogen, it can then be extracted from its storage tanks and converted into electrical energy.
“This is an exciting opportunity and one that will take the tonnes of waste that collects in Egypt and turn it into green hydrogen. The Waste-to-Hydrogen plant is a breakthrough in making green hydrogen economically viable, helping reduce not only global CO2 emissions but also reducing the pollution and impairment of water resources in the country,” Stusch further commented.
The final signings for this huge project are still due to be during COP27 later in November, where H2 Industries is currently preparing their feasibility studies in preparation for it.
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