Clean tech companies are in the frontline of Europe's efforts to become carbon neutral by 2050. A Dutch firm, backed by EU financial support, has developed a new green energy technology that will help achieve that goal.
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00:00Energy powers our daily lives, but producing it and using it makes up 75% of the EU's greenhouse gas emissions.
00:11Now, a Rotterdam-based cleantech company, supported by an EU investment programme,
00:16is on a mission to help cut fossil fuel dependency, with this, the Battalyzer.
00:22It's an electrolyzer which can store renewable energy in a battery and produce green hydrogen.
00:30Working on the energy transition is something that unites us all.
00:34This is the challenge of our generation that we have to fix.
00:41Invented at a Dutch university, the Battalyzer is fed by renewables like wind and solar.
00:48Once its battery is charged, energy can then be used to produce hydrogen.
00:54The system can also be instantly switched on and off to match intermittency of supply.
01:0160% of the cost of green hydrogen comes from the electricity.
01:06What a Battalyzer can do is when power prices are low, it produces hydrogen.
01:11But when power prices are high, it can stop producing hydrogen, something that other technologies cannot do.
01:18And it can also deliver the electricity back to the grid,
01:21and therefore creating an additional income stream for customers.
01:27Last year, the first industrial-scale Battalyzer system was installed at this Dutch power plant for field testing.
01:33The hydrogen produced is used to cool gas turbine bearings.
01:41Now, production facilities are being ramped up for commercial deployment.
01:45Industries ranging from oil refineries to mobility companies are being targeted.
01:53The energy transition needs to go fast, because that is important for basically the climate change.
01:59And it needs to be affordable. And I think we can do both.
02:03Here at the port of Rotterdam, the company plans to build its first large-scale factory.
02:09We need the existing companies to do the transition, and we need new companies who fill the gaps.
02:15In the future, the energy system will be decentralized, and we'll need batteries and we'll need hydrogen production.
02:22And the fact that Battalyzer combines the two of these is really a new offering in this new energy market.
02:30A finance deal has been signed with the European Investment Bank for the next three years.
02:35The finance deal has been signed with the European Investment Bank for €40 million for the scale-up in production.
02:41It's backed by a guarantee from the InvestEU fund.
02:45In addition, the project benefits from €2 million from the EU's Just Transition Fund.
02:51It's now hoped the technology developed here in the Netherlands will start rolling out from later this year.
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