Carbon emission reduction technology company Topsoe has signed a grant agreement with the European Union’s Innovation Fund for a total of €94m, a grant which is seen as recognition of Topsoe’s SOEC electrolysis technology and the innovation inherent in building its first-of-kind SOEC factory in Denmark.
The factory, Topsoe’s single biggest investment to date, will manufacture advanced, energy efficient Solid Oxide Electrolyser Cells (SOEC) that are essential in the production of green hydrogen and its derivatives. Electrolysers are key for decarbonising energy-intensive industries like steel, mining, and long-distance transportation that account for approximately 30% of global GHG emissions and cannot easily be electrified. The European Commission has announced a proposal to deploy 40 GW of hydrogen electrolyser installation and 10m tonnes of green hydrogen production.
When used to produce green hydrogen, electrolysers from Topsoe’s factory will reduce emissions by about 7.5m tonnes of CO2 equivalent over the first 10 years of operation when compared to hydrogen produced from natural gas.
Roeland Baan, CEO Topsoe, said: “I’m very proud that the Innovation Fund acknowledges our technology leadership and our decision to take the first steps in increasing European electrolyser manufacturing capacity. EU funding is key in supporting the industry’s endeavours to back the green hydrogen economy and contribute to EU’s 2050 climate neutrality target. We’re facing an immense task to decarbonise energy-intensive industries and long-distance transportation, and at Topsoe we’re doing our part. This grant from the EU demonstrates how public incentives and private innovation can bring us closer to net zero.”
Kim Hedegaard, CEO Power-to-X, Topsoe, said: “We’re incredibly honoured to have been awarded such a prestigious grant. The energy transition demands careful use of resources to maximise outputs, and our SOEC technology is up to 30% more efficient than competing technologies. Our Herning factory is hopefully the first of many, enabling Topsoe to take a leading role in decarbonizing shipping, aviation, steel, and more industries. This is an exciting step for Topsoe, Denmark and the EU.”
