Doral Energy and H2Pro announce a strategic agreement for 200 MW electrolyzers for green hydrogen projects
Under the agreement, H2Pro will supply Doral with a total of 200 MW of H2Pro's E-TAC electrolyzers until 2030
CAESAREA and RAMAT GAN, Israel, Aug. 2, 2022 /PRNewswire/ -- H2Pro and Doral Energy announce the signing of a strategic purchase agreement. Doral, as a global renewable energy developer, with 15 GW of renewable assets under development, is planning to execute a large green hydrogen project pipeline worldwide. To support this plan, Doral secured access to 200 MW of H2Pro's E-TAC systems for its projects in Europe, the United States and Israel and will purchase minimum quantities subject to E-TAC system performance.
Beyond investing in H2Pro via Doral Energy-Tech Ventures, Doral's Corporate VC, the first step of the partnership is already taken as H2Pro and Doral launched the project of a pilot system of 0.4 MW scheduled for 2023 in Kibbutz Yotvata, Israel. The project is supported by the Israeli Ministry of Energy. Green Hydrogen will be produced by H2Pro's E-TAC technology. Doral develops a photovoltaic plant which will produce electricity for the project. The hydrogen will be blended with natural gas for use in the nearby Yotvata dairy factory.
Alongside its partners, Doral is also leading the efforts to develop a subsequent project extension into a 30 MW Hydrogen hub based on H2Pro's technology. After these first projects, H2Pro will continue supplying E-TAC electrolyzers according to the agreement until 2030.
"Doral is in the forefront of global, tech-driven renewable energy development, that goes far beyond green electrons. As part of our "Green Energy" strategy, we are tapping into the green molecules' world with various applications such as producing green and clean hydrogen to support the decarbonization efforts of our corporate partners. The collaboration with H2Pro will not only diversify and secure our supply chains but also demonstrate best-in-class green hydrogen production in competitive pricing." Said Yaki Noyman, CEO of Doral.
"By signing this agreement, the collaboration with Doral has taken a big step forward in laying the groundwork for a significant gradual deployment. A pilot in Yotvata with Doral is planned for 2023. This will follow the first pilot of 0.4 MW planned with the Bazan refinery also in 2023. H2Pro will benefit from Doral's access and renewable integration experience in its global projects through this agreement." Said Talmon Marco H2Pro's CEO.
Founded in 2019 and based in Caesarea, Israel, H2Pro develops E-TAC - a revolutionary method for producing green hydrogen by splitting water that is over 95% efficient, safe and cost-competitive with fossil-fuel hydrogen.
H2Pro's technology, known as E-TAC (Electrochemical - Thermally Activated Chemical), uses electricity to split water into hydrogen and oxygen. However, unlike electrolysis, hydrogen and oxygen are produced at separate steps. This eliminates the need for a costly membrane, allows for a simpler construction and significantly lowers power consumption compared to electrolysis.
H2Pro is backed by leading investors and strategic partners, such as Breakthrough Energy Ventures, Temasek, Horizons Ventures, ArcelorMittal, Yara Growth Ventures, Hyundai, Sumitomo Corporation, Bazan and New Fortress Energy. E-TAC is based on years of research conducted by its founding team at the Technion, Israel Institute of Technology. H2Pro is the winner of Shell's 2020 New Energy Challenge.
About Doral Group
Doral Group (TASE: DORL) is a publicly traded company on the Tel Aviv Stock Exchange in Israel (DORL) and is a global renewable energy leader, holding hundreds of long-term revenue-generating renewable energy assets. Doral Group is active, inter alia, in Israel, Europe, and the United States. Doral Group is also emerging as a worldwide leader in the field of solar + storage solutions, following its win of Israel's biggest solar + storage tenders to build approximately 750 MWdc + 1,400MWh of storage facilities in Israel.
Doral's flagship project in the US is Mammoth Solar, one of the largest solar projects in the United States. The project spreads over 13,000 acres in northwest Indiana and will generate 1.6 GW (DC), enough energy to power 275,000 households annually. The first phase of the project is under construction and expected to connect to the electric grid during 2023. Doral has recently secured project financing for the first phase of the project and has signed PPAs agreement for the entire whole Mammoth project.
For more information:
www.h2pro.co | https://doral-energy.com/en/
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