The H2Challenge - Smart Kite
About the compnay
The industry of the renewable energy is booming as governments are aiming to achieve CO2 reduced emission as well as fossil-free strategies. The EU and US are aiming to reach the goal of climate neutral society by the year 2050 with the settled goals of reducing CO2 emissions by 2020 and 2030.
We have developed energy solutions that generate electricity, but are interested in hydrogen as well as the electricity market is exceedingly competitive in countries such as Norway. Hydrogen is also an energy carrier enabling it to mitigate energy reliability problems which is a key focus area for us.
Our interested for taking hydrogen to the next level was sparked by Ørsted taking the final investment decision on the Danish demonstration project H2RES, which will use offshore wind energy to produce renewable hydrogen. The project is expected to produce its first hydrogen in late 2021 and will be Ørsted's first renewable hydrogen project in operation
Smart-Kite is a newly founded company within the technology sector focusing on developing and building green energy solutions using sophisticated technologies such as innovative design, electronics, software, hardware, fluid dynamics, construction and electro-mechanical engineering. We focus on large scale disruptive solutions, and are currently securing patents and moving towards to prototype testing. Our solutions are aimed towards developing more effective solutions then current wind turbines, which are typically limited by a 30% capacity factor. We have a lean and modern approach to business, driven by systems and approaches that are used in successful tech companies today.
As part of the input to our potential H2 business plan, we ask the students to investigate the green hydrogen market and find analogue projects within the green hydrogen sector such as the H2RES project by Ørstad or “HyDeal Ambition” that we can learn from. As part of your research and presentation, we want you to advice us on: (1) The maturity of the hydrogen generator (fuel cell). --- (a) Are there suppliers that can deliver MW-scale proven hydrogen generators? --- (b) Are the generator cost effective? Reliable? --- (c) Can the generators use salt-water? --- (d) Limiting factors (Water supply? Rare metal supply? Costs? Demand? Etc.) (2) Hydrogen storage solutions and transportation options --- (a) Are there examples of projects that use hydrogen for energy storage to help improve the reliability of renewable energy? If so, what are the learnings? --- (b) What are the key limitations to transportation or storage? (3) How are existing green hydrogen projects financed and developed? --- (a) Map out the key developers of green hydrogen projects. --- (b) Look at the investment structures of current projects (consortiums? etc.) --- (c)What are the dynamics that control hydrogen prices, and the risks? --- (d)Provide a recommendation on the best to finance our hydrogen project.