Caterpillar and Chevron Sign Contract to Develop Projects Using Hydrogen

Written by Roberta Souza

Published on 15/09/2021 at 11:56

Trem/ Fonte: Investable Universe

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The Partnership Between Caterpillar and Chevron Is to Develop Hydrogen Demonstration Projects in Transportation and Stationary Energy Applications

Chevron and Caterpillar recently announced a partnership to develop hydrogen demonstration projects in transportation and stationary energy applications. The goal of the collaboration is to confirm the viability and performance of hydrogen for use as a commercially viable alternative to traditional fuels for rail and maritime transportation vessels. Also read this news: Chevron Plans to Acquire New Oil and Gas Areas in Upcoming Auctions in Brazil

Hydrogen Projects by Chevron and Caterpillar

The goal of the collaboration is to confirm the viability and performance of hydrogen for use as a commercially viable alternative to traditional fuels for rail lines and maritime vessels. The collaboration also aims to demonstrate the use of hydrogen in primary generation.

The companies have reportedly agreed to demonstrate a hydrogen-powered locomotive and associated hydrogen refueling infrastructure. Work on the railway demonstration will begin immediately at various locations in the United States, according to Chevron.

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Investment in Renewable Projects

Joe Creed, president of Caterpillar’s energy and transportation group, stated that while they work to provide customers with the ability to use the type of fuel they desire in their operations, collaborating with Chevron is a great opportunity to demonstrate the viability of hydrogen as a fuel source. “This agreement supports our commitment to invest in new products, technologies, and services to help our customers achieve their climate-related goals as they build a better and more sustainable world,” he added in the statement.

“Through Chevron New Energies, Chevron, along with Caterpillar, is seeking opportunities to create demand for hydrogen – and the technologies needed for its use – for the heavy-duty and industrial sectors, where carbon emissions are most difficult to reduce,” Jeff Gustavson, president of Chevron New Energies, said in a company statement. The executive also emphasizes that the collaboration with Caterpillar is another important step toward advancing a commercially viable hydrogen economy.

Also Check Out: Ceará Will Receive Investments of R$ 90 Billion and Could Generate Over 5,000 Jobs with Green Hydrogen Projects

The government of the state of Ceará has already closed a memorandum of understanding with companies to make investments in green hydrogen production plants, which can result in investments of R$ 91.25 billion. The forecast is that these plants alone will generate 5,000 jobs in the initial phases, not counting secondary or parallel operations.

Fortescue Future Industries, a subsidiary of Fortescue Metals Group, a global leader in the iron ore mining industry, will invest US$ 6 billion to build a green hydrogen plant in the state of Ceará. This is due to the extensive prospects for sustainable sources, with demand expected to reach 200 million tons by 2030. According to the governor of Ceará, Camilo Santana, the venture is expected to be important for increasing job generation for the people of Ceará. This new green hydrogen hub is also expected to include a tax incentive plan until 2050, according to the head of the Executive branch of the state of Ceará. The goal is to facilitate the initiative and expedite negotiations.

Qair Brasil announced at the end of June that it will build a new green hydrogen plant in the state of Ceará. The company, which is part of the French group Qair, states that the construction of the project is planned to be carried out in four phases, between 2023 and 2030. The green hydrogen venture could receive investments of nearly R$ 4 billion.

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Caterpillar and Chevron Sign Contract to Develop Projects Using Hydrogen

The Partnership Between Caterpillar and Chevron Is to Develop Hydrogen Demonstration Projects in Transportation and Stationary Energy Applications

Hydrogen Projects by Chevron and Caterpillar

Investment in Renewable Projects

Also Check Out: Ceará Will Receive Investments of R$ 90 Billion and Could Generate Over 5,000 Jobs with Green Hydrogen Projects

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Caterpillar and Chevron Sign Contract to Develop Projects Using Hydrogen

The Partnership Between Caterpillar and Chevron Is to Develop Hydrogen Demonstration Projects in Transportation and Stationary Energy Applications

Hydrogen Projects by Chevron and Caterpillar

Investment in Renewable Projects

Also Check Out: Ceará Will Receive Investments of R$ 90 Billion and Could Generate Over 5,000 Jobs with Green Hydrogen Projects

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An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

With 7.4 trillion tons of artificial snow pumped in 10 years, an extreme operation could stabilize the West Antarctic ice sheet and prevent a sea level rise of more than 3 meters, but it would require snow cannons, ocean water, and energy on an almost industrial scale at the end of the world.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

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