InterContinental Energy unrobes plans of expanding its green hydrogen endeavours
InterContinental Energy (ICE), a company specializing in the delivery of green hydrogen, has disclosed its plans for expansion, supported by a substantial equity investment of $115m. This funding comes from prominent entities: global investor GIC and clean hydrogen-focused investor Hy24. The fresh influx of capital is poised to expedite the rollout of ICE's vast range of projects.
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These endeavours, scattered across Australia and parts of the Middle East, predominantly leverage the region's rich wind and solar energy assets. Their overarching goal is to realize almost 100 gigawatts (GW) of renewable energy capacity. Notably, they aim to achieve 10GW by the close of 2030, aligning with the expected global uptick in green hydrogen production.
Highlighting the significance of their association with GIC, Alex Tancock, ICE's CEO, appreciated GIC's unwavering trust and expressed optimism about their shared vision for green hydrogen. He also recognized the strategic involvement of Hy24, praising its unparalleled expertise and robust connections in the hydrogen sector. This collaboration is anticipated to unveil new prospects for ICE and its stakeholders.
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Positioning itself as a global trailblazer, ICE asserts that its project roster is among the planet's most expansive, with projections to churn out in excess of five million tonnes annually of green hydrogen. This initiative has the potential to mitigate over 50 million tonnes of CO2 emissions. Through its Clean Hydrogen Infrastructure Fund, Hy24's investment in ICE signals its commitment to fostering ICE’s growth trajectory.
Pierre-Etienne Franc, the CEO of Hy24, elaborated on the company's intent to stimulate the large-scale evolution of the hydrogen domain. He endorsed ICE's strategic vision and lauded its advanced plans for renewable energy basins, further asserting ICE’s potential to emerge as a pivotal player in the burgeoning energy landscape.
According to the article by Procurement Resource, InterContinental Energy (ICE) is set to advance its green hydrogen projects, backed by a significant $115m investment from GIC and Hy24. Located across Australia and the Middle East, these projects aim to harness abundant wind and solar resources, targeting nearly 100GW of renewable capacity by 2030. This endeavour, one of the world's largest, expects to produce over five million tonnes of green hydrogen annually, reducing 50 million tonnes of CO2 emissions. With Hy24's support and expertise, ICE is positioning itself as a pivotal player in the global energy transition.
