Shell Technology Ventures and Anglo American Platinum acquire a share in Dutch HyET Hydrogen B.V.

12 april 2018

New investors understand the value of HyET’s breakthrough hydrogen compression technology

HyET Hydrogen, based in Arnhem (The Netherlands) and Berkeley (USA), has entered strategic partnerships with Shell Technology Ventures BV (STV) and the Platinum Group Metals (PGM) Investment Programme of Anglo American Platinum. Each party thereby acquired a minority share in HyET Hydrogen. Both investors are attracted by the breakthrough electrochemical hydrogen compression and purification technology, that HyET has developed. This technology may lead to an acceleration in the transition to a hydrogen-based energy economy.

“We have high expectations of the strategic partnerships with STV and Anglo American Platinum”, says Rombout Swanborn, CEO and co-founder of HyET Hydrogen. “We believe that with the support of these partners – both of which are well established in the supply and demand side of the hydrogen market – we can more easily create and accelerate awareness and acceptance of our new technologies that can reduce the costs and increase the reliability of production and storage of high-pressure hydrogen compared to traditional methods.

Highly compressed hydrogen can store a large amount of electrical energy, much more than conventional batteries. By comparison: a car drives approximately 100 km on 1 kg of compressed hydrogen, whilst it drives a mere 1 km on the energy stored in 1 kg of batteries. The ability to cost-effectively and reliably compress hydrogen will play an important part in accelerating the adoption of hydrogen-powered Fuel Cell Electric Vehicles (FCEVs) and other vehicles, such as fuel cell powered trucks and busses.

Swanborn added that HyET and Shell Hydrogen have agreed in the wake of the above transaction to initiate a cooperation that aims at developing hydrogen compression equipment specifically suited for low cost / high-reliability public Hydrogen Refueling Stations (HRS).

“Noiseless, high-reliability compression equipment at low cost is crucial to the rollout of hydrogen stations. The HyET technology may be able to offer this.”, said Oliver Bishop, General Manager Shell Hydrogen.

Andrew Hinkly, CEO of Anglo American Platinum’s PGM Investment Programme, said, “We support the commercialization of new applications that use our metals, particularly those that are synergistic with our business and existing portfolio companies. This investment in HyET boosts the demand for our metals while simultaneously benefits from the accelerating of the roll-out of HRS and the adoption of FCEVs. Our investment in HyET adds yet another building block to our portfolio of investments aimed at increasing the demand for PGMs.”

Peter van Giessel, Shell deal lead commented, “STV is pleased to support HyET in developing and bringing to market their innovative hydrogen technology. Shell believes hydrogen will play an important role in a low-carbon transport future and HyET is an exciting option to help reduce emissions and improve air quality.”

 

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