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Power2x is currently developing fast in Denmark and with our progressive green transition, new business and investment opportunities are emerging. Several foreign businesses have already invested in the conversion of surplus electricity to hydrogen.
When
According to a new report by the independent public enterprise, Energinet, owned by the Danish Ministry of Climate and Energy, the conversion of electricity to hydrogen and liquid fuels – the so-called Power2X – can become relevant earlier than expected. This is due to cheaper wind energy prices, an increased demand for green fuel for transportation and the rapid developments in electrolysis technology.
Denmark can become one of the frontrunners in this development. Denmark is a windy country and has many years of experience with and development of wind energy. Therefore, Denmark has favourable conditions to become a frontrunner in the transition to Power2X. Large Danish companies like Haldor Topsøe and Green Hydrogen already work with the technology.
Furthermore, foreign companies are beginning to show interest in the conversion of electricity in Denmark. The French company Air Liquide is one of the main investors in the electrolysis plant HyBalance in Hobro, located in Northern Denmark.
Additionally, the Canadian company Ballard Power Systems has announced that they will establish design and production of fuel cells for the shipping industry in the same city, where their European headquarter is located as well.
The large Danish energy company Ørsted’s proposal for the Netherlands’ next big offshore wind park in the North Sea entails that some of the wind energy produced must be reused to produce green hydrogen.
This allows Ørsted to ensure a more secure revenue for the offshore windmill parks. Furthermore, and equally important, the scaling of the production of green hydrogen will help bring down the prices just as Ørsted’s efforts have done it for the price of wind energy.
The new REDII directive from the EU on renewable energy from 2020-2030 is pushing for developments in the area as well. This means that it might be relevant already by 2030 to be able to convert electricity residue from windmills and solar plants to hydrogen, which can be used either directly in the transportation industry or transformed into electro fuels, which can be used in cars, buses, trucks, trains, shipping or even flights.
Since batteries are not yet fully developed to handle these forms of transportation, there is an important need for the technology. Additionally, the amounts of electricity required for the production of green fuels are large and needed when replacing gasoline, diesel and oil in the heavy forms of transportation.
Power2X is electricity used as another source of energy, e.g. hydrogen, green methanol, bio-methane or other electro fuels. The interest for Power2x is high among Danish companies and the Danish research environment because of the Danish electricity network, which soon will be covered by 50% wind energy.
The technology behind Power2x is not new, but the electrolysis plants are growing and the HyBalance plant in the Danish city Hobro with 1.2 MW is among the newest and largest producers of hydrogen based on electricity.
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