Hy Stor Energy Becomes First North American Company to Commit to Global Green Hydrogen Standard

August 10, 2022 10:21 AM Eastern Daylight Time JACKSON, Miss.--(BUSINESS WIRE)-- Hy Stor Energy LP (Hy Stor Energy), a company pioneering renewably produced green hydrogen and energy storage at scale in Mississippi, announced today it has partnered with the Green Hydrogen Organisation (GH2) to become the first pledge member in North America to advocate for the GH2 Green Hydrogen Standard across the continent and worldwide. By committing to this standard, which is the first of its kind globally, Hy Stor Energy will produce hydrogen with 100% or near 100% renewable energy with close to zero greenhouse gas emissions for its highly anticipated Mississippi Clean Hydrogen Hub and all future projects.

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'The GH2 Standard provides certainty and transparency to investors and other stakeholders that green hydrogen is exactly that: hydrogen made with renewable electricity which conforms to the highest standards on emissions, ESG and the sustainable development goals,' said Malcolm Turnbull, chairman of GH2. 'We are thrilled that Hy Stor Energy has pledged to advocate our standard across North America and has committed to ensuring its projects meet the standard.'

The goal of establishing a standard for green hydrogen production is to help rapidly decarbonize hard to abate sectors such as steel, cement, maritime shipping, and aviation to meet urgent net zero and decarbonization goals. Green hydrogen projects that meet the GH2 Standard will be licensed to use the label 'GH2 Green Hydrogen' and will be eligible to obtain and trade GH2 certificates of origin for green hydrogen and derivatives such as green ammonia. Since most projects are still in the early design phase, like Hy Stor Energy's Mississippi Clean Hydrogen Hub, the project will be independently evaluated in accordance with standard to identify any issues or concerns that might constitute a barrier to accreditation.

'The passage of the Inflation Reduction Act (IRA) is a paradigm shifting victory for energy innovation in this country. As the energy revolution continues to pick up pace, GSREIA commends Hy Stor Energy and the Green Hydrogen Organization for developing a gold star standard for green hydrogen. We at GSREIA will accept and uphold the definition and we urge its adoption in our Gulf Region and beyond,' said Stephen Wright, executive director of the Gulf States Renewable Energy Industry Association.

In addition to this announcement, Hy Stor Energy is also supporting the Youth for Green Hydrogen initiative, an inclusive movement of young people working towards accelerating climate solutions and scale green hydrogen, to establish the group's first North America Chapter. Together with Youth for Green Hydrogen and other organizations like universities and national labs, Hy Stor Energy is developing a positive, action-based path forward with educational and advocacy outcomes.

'We welcome our partnership with Hy Stor Energy to strengthen youth participation and partnerships in creating Green Hydrogen youth-led innovation and climate solutions in North America and around the world,' said co-founder of Youth For Green Hydrogen, Sailesh Singal.

While the hydrogen industry is growing in the U.S. because of the development of The Department of Energy's H2Hub program and hydrogen tax credit, many companies in the U.S. are promoting the use of blue hydrogen rather than green and renewable hydrogen. To be fully committed to lowering harmful emissions, it's critical that the hydrogen industry utilize the gold standard of production and not be contributing to additional carbon dioxide and methane in the atmosphere. This long-term investment in green hydrogen infrastructure has the added benefit of being utilized for decades – helping to reduce the risk of having stranded energy assets in the future. Hy Stor Energy is focused on the urgent need to commercialize, deploy, and scale green hydrogen as it is critical to meet decarbonization goals and mitigate climate change.

'Now that the Senate has passed the IRA, the largest climate investment legislation in U.S. history, there is no time to waste on enabling green hydrogen production and storage to better ensure clean, air, clean water, and public health in our communities for now and generations to come,' said Laura L. Luce, CEO of Hy Stor Energy. 'Not only will this legislation accelerate clean energy manufacturing at pace and scale, but there is also monumental and impactful provisions and tax credits to boost the renewable hydrogen industry and drive its adoption across the country. At Hy Stor Energy, we are ready to scale green hydrogen in North America and be a leader in setting the gold standard for zero-carbon, zero-methane hydrogen. And by enabling the youth of the world to have a leading voice in this conversation, we will ensure a healthy framework for the green hydrogen economy including education, inspiration, support, and mentorship as well as further advocacy for diversity in STEM.'

Earlier this year, the Hy Stor Energy team attended the first GH2 Global Assembly in Barcelona where the company signed both the GH2 Green Hydrogen Standard and the Youth for Green Hydrogen Declaration. During this conference, Hy Stor chief operation officer, Claire Behar participated in a fireside chat with Mr. Turnbull where the two discussed the future of the green hydrogen industry.

For more information about Hy Stor Energy, please visit www.hystorenergy.com.

About Hy Stor Energy

Hy Stor Energy is facilitating the transition to a fossil-free energy environment by developing and advancing renewable hydrogen at scale through the development, commercialization, and operation of renewable hydrogen hub projects. The company defines green hydrogen as only that which has produced from renewables -- as set forth by the Green Hydrogen Organisation. Large, fully integrated projects produce, store, and deliver 100% carbon-free, energy, providing customers with safe and reliable renewable energy on-demand. Developed as part of an integrated hub, these projects couple on-site renewable hydrogen production with integrated long-duration storage and distribution – using scale to reduce costs. Hy Stor Energy, led by energy storage industry and hydrogen technology veteran Laura L. Luce, has an innovative team with deep expertise and is positioned as a leader in the renewable hydrogen revolution. For more information, please visit www.hystorenergy.com.

About the Green Hydrogen Organisation (GH2)

The mission of the Green Hydrogen Organisation (GH2) is to dramatically accelerate the production and utilisation of green hydrogen across a range of sectors globally. It will push to rapidly decarbonise industries like steel, cement, fertilisers, shipping, and aviation that have so far made limited progress reducing their emissions. We bring together government, industry, and civil society to enable the rapid uptake of green hydrogen globally.

About Youth for Green Hydrogen

Youth for Green Hydrogen is a network of passionate young women and men working in the Green Hydrogen sector. Our vision is to increase the participation and amplify the leadership of young people working in Green Hydrogen by keeping Intergenerational partnerships at the centre of our approach.

Youth For Green Hydrogen is an inclusive movement of young people working towards creating solutions to end climate crisis and we firmly believe it is only through the green technology that the world can reduce the dependency on its existing consumption of fossil fuels. The usage of green technology while would be reached incrementally but the emergency of climate crisis calls every young person to take action in making our societies based on renewable energy sources, especially Green Hydrogen.

The group has been instrumental in developing the worlds' first Youth Declaration on Green Hydrogen, which had been adopted by the world leaders in the GH2 Assembly in Barcelona and has mobilized young people from across 64 countries in accelerating climate solutions through Green Hydrogen technology.

Youth Declaration on GH2: https://www.y4gh2.org/wp-content/uploads/2022/06/Y4GH2-Declaration.pdf