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Itaguaí will receive billion-dollar investments to produce green hydrogen. Considered the fuel of the future, H2V promises to be the solution to reducing CO2 emissions.
In line with the debates of the COP28, held in Dubai in November 2023, the city of Itaguaí has just taken an important step in the search for technological solutions that can contain global warming. The city hall signed a historic document to produce green hydrogen, considered the fuel of the future.
Itaguaí will receive investment of 4 billion euros to produce green hydrogen
The city of Itaguaí signed a document known as Non Circumvention and Non Disclosure Agreement (NCNDA, a frequent clause in international agreements), with the ISCM foundation, a non-profit organization based in Brussels, Belgium, to implement an industrial plant for the production of green hydrogen (H2V) in the city, the main alternative to reduce the release of gases causes of the greenhouse effect.
The next step, which is expected to take place in the coming weeks, is the formalization of the Agreement of Intent (MOA). The ISCM Foundation will then carry out a feasibility study of the project, bearing all costs. According to Gustavo Medina, ISCM representative in Brazil, structuring the project should take two years.
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According to the mayor of Itaguaí, Rubens Vieira, this project to produce green hydrogen, the fuel of the future, foresees the injection of 4 billion euros (around R$21 billion) in the coming decades and will lead the city to become one of the leaders at world energy revolution. Itaguaí will be the first city in the State of Rio de Janeiro to negotiate a project of this size at the municipal level.
Fuel of the future will bring several benefits to Itaguaí
Raising funds for the implementation of the project that aims to produce green hydrogen is the responsibility of ISCM Investments, the foundation's financial arm.
Itaguaí City Hall will not have any burden and its role is to provide the necessary institutional support to obtain licenses and permissions for the companies that will manage the future green hydrogen venture. To the Secretary of the Environment, Climate Change and Animal Welfare of Itaguaí, Antonio Marcos Barreto, The time is great to apply technology for innovation.
According to Rubens Vieira, it is an industrial complex entirely focused on the production and sale of the fuel of the future and which will provide a prosperous future for the municipality.
The company is committed and interested in the project, which will guarantee clean water and jobs for several generations in the city. By playing an essential role in the country's energy transition, Itaguaí will contribute to the world decarbonization, in addition to generating thousands of jobs and bringing many social improvements to the city.
Get to know ISCM
A ISCM is a non-profit foundation that operates in several cities around the world, focusing on investments in sustainable projects, bringing innovation and technology, while ensuring the development of socio-environmental well-being programs.
Registered with the UN and a member of the European Alliance for Green Hydrogen, the ISCM Foundation already has green hydrogen plants underway in, for example, five cities in Mexico and in other cities in South Africa.
At COP28, held in Dubai in November 2023, the need to produce renewable energy and technological solutions capable of containing global warming became clear.
In this context, Green hydrogen (H2V) emerges as the main alternative to reduce greenhouse gases (GHGs). It is worth mentioning that Brazil is preparing to lead the global production of green hydrogen (H2V), marking a major movement in the green economy with this fuel of the future.
