Page 163 - CW E-Magazine (19-3-2024)

News from Abroad

LOW-COST RENEWABLE HYDROGEN
Yara invests in Dynelectro to advance solid oxide

electrolysis

Norwegian fertiliser major, Yara, value chain is an essential part of secur-
through its venture capital unit, Yara ing global food supply in a sustainable
Growth Ventures, is investing in Den- way and one of our primary objectives.
mark’s Dynelectro, which develops Investing in companies like Dynelec-
technologies to unlock the potential of tro realises that strategy by supporting
Solid Oxide Electrolysis (SOE). new technologies for the production of
affordable low-emission end products,”
While SOE yields the highest pos- he added.
sible efficiencies to produce renewable
hydrogen and e-fuels, it has been suf- “Electricity is the key driver for the Yara Growth Ventures is Dynelec-
fering from system lifetime issues up to cost of renewable hydrogen. While solid tro’s first industrial investor. The in-
now. The investment is part of Yara’s oxide electrolysis has the best potential vestment follows the company’s seed
ambition to decarbonise fertiliser for low cost, it suffers a niche existence investment round, which was led in
production and enable the hydrogen due to system lifetime issues. We May 2023 by The Export and Invest-
economy. believe Dynelectro will overcome these ment Fund of Denmark (EIFO), Den-
issues and pave the way to make low- mark’s national promotional bank and
Dynelectro’s approach increases the cost renewable hydrogen a reality,” said export credit agency, with contributions
lifetime of SOE systems dramatically Mr. Björn Heinz, Investment Director from Vsquared Ventures, a leading
from typically 2 to 10 years, and it also and part of the Yara Growth Ventures European deep-tech fund, and further
allows for integration of SOE with in- team. local venture investors. The funding
termittent renewable electricity – a key will be used for demonstration projects
requirement for large scale adoption. “Decarbonisation of the fertiliser and further technology development.

SABIC CEO re-elected as GPCA Chairman

The Gulf Petrochemicals and
Chemicals Association (GPCA) has
announced changes to its Board of
Directors for the term 2024-2027 at
its Annual General Assembly meeting
held in Dubai.

Mr. Abdulrahman Al-Fageeh, CEO,
SABIC, was re-elected for a new three-
year term as Chairman of GPCA, and
Dr. Mohammed Al Mulla, Managing
Director and CEO, QAPCO, has been
re-elected as Vice Chairman. Ms. Nadia
AlHajji, CEO, PIC, was elected for the
role of Treasurer, replacing Mr. Hazeem
Sultan Al Suwaidi, CEO, Borouge,
who retains a seat on the GPCA Board.
Ms. AlHajji remains Sponsor of the
GPCA Youth Council.

Chemical Weekly March 19, 2024 163

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