Clean-Seas purchase of a waste plastic-to-energy pyrolysis plant to showcase its technology in India announced November 16, it is poised to enter the $125 billion hydrogen generation marketplace which analysts project increasing to $184 billion by 2028.
The Company’s purchase and shipment of its 2.5 ton/day pyrolysis plant follows its MOU signed in October with the Council of Scientific and Industrial Research (CSIR)-Indian Institute of Chemical Technology (IICT) providing for both parties to work together to bring Clean-Seas’ waste plastic-to-energy conversion technology to India to help mitigate its growing waste streams and provide clean energy as a part of the $1 trillion renewable energy infrastructure plan already being implemented by the Indian government.
Clean-Seas, along with its technology partners, is developing improved methods of converting mixed plastic waste to efficiently produce hydrogen and store it with state-of-the-art fuel cell technology further enhancing the project’s economics. The Clean-Seas pyrolysis plant is being retrofitted in California accordingly and readied for shipment to Hyderabad for a Q1 2022 installation. When operational, the plant will produce the Company’s brand of clean hydrogen called “AquaH™” that is generated from a waste stream which falls between green and blue hydrogen as explained in this link.
The pilot plant will showcase the Company’s technology and economics; with the support of IICT it expects to subsequently install numerous large-scale plants throughout India. In 2020, Asia Pacific accounted for the largest revenue share of hydrogen generation with over 35%, and the trend is expected to continue till 2028 led by China, Japan, South Korea, India, and Australia.
“The goal of generating hydrogen with a minimal carbon-output process is in contrast to methods such as using coal-based electricity,” said Dan Bates, Clean Vision Chief Executive Officer. “The world is moving to clean hydrogen generation, and we are confident that converting plastic waste streams into energy (including low-sulfur diesel) as well as hydrogen increases our value proposition several times over. We will be using our Hyderabad pilot plant to demonstrate our technology to government and private sector officials from around the world.”
In their July 15 report, “Hydrogen Investment Pipeline Grows to $500 Billion in Response to Government Commitments to Deep Decarbonization,” the Hydrogen Council and McKinsey & Company state 359 large-scale hydrogen generation capital projects have been announced globally, up 131 in the first half of 2021.