Connect with us

Hi, what are you looking for?

Economy

DoE taps Australian firm to explore Philippines’ hydrogen potential

The Department of Energy (DoE) and Australian-based research firm Star Scientific Ltd. inked an agreement to study hydrogen as a possible source of power for the country’s energy needs.

In a press release on Friday, the DoE said it had signed the memorandum of understanding (MOU) with Star Scientific Limited on Wednesday.

Star Scientific is known for its patented Hydrogen Energy Release Optimiser (HERO) technology, which converts hydrogen into heat without burning.

The MOU allows the Philippine government and the Australian firm to partner up in studying on how using hydrogen power could help the Philippines achieve energy independence and significantly reduce the country’s carbon dioxide emissions.

The DoE and Star Scientific will work together to find ways that would allow the latter’s HERO technology to convert existing power facilities into unlimited zero-emission hydrogen assets; and increase the viability of distributing emission-free power through a supercritical carbon dioxide grid network, among others.

“We are hoping to be able to utilize hydrogen as fuel for electric vehicles and as part of the country’s future energy mix,” Energy Secretary Alfonso G. Cusi who was one of the signatories of the MOU, was quoted as saying.

He added that there was a vast potential for hydrogen power in the country, reiterating that it was considered as the “fuel of the future.”

On Star Scientific’s website, the firm’s global group chairman Andrew Horvath said he was proud that an Australian innovation – the HERO – had captured the attention of a national government.

“This agreement with the Department of Energy of the Republic of the Philippines represents a significant milestone in the development of the global hydrogen economy,” he was quoted as saying.

“This will represent the largest single boost to Australia’s role in developing the global hydrogen economy, heralding a new era of research, development and deployment in the manufacture and installation of all parts of the hydrogen supply chain. We are particularly grateful and excited to be part of the next phase of the Philippines’ economic growth,” he added.

DoE data showed that coal comprised 44.5% of the country’s power mix in 2015, followed by natural gas at 22.9% and geothermal at 13.4%. At present, hydrogen is not part of the country’s generation mix.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

WASHINGTON D.C. — The United States is seeking to form a coalition of countries to drive negotiations on a global plastic pollution treaty, weeks...

Economy

By Diego Gabriel C. Robles  THE WORLD BANK (WB) upgraded its growth forecast for the Philippines for this year and 2023, citing an “accommodative”...

Economy

THE PHILIPPINE auto industry’s sales recovery will likely be derailed if a measure reimposing excise taxes on pickup trucks is signed into law, according...

Economy

THE BANGKO SENTRAL ng Pilipinas (BSP) may deliver a second off-cycle rate hike in early November when the US Federal Reserve is expected to...

Economy

THE ASIAN Development Bank (ADB) is planning to allocate at least $14 billion for a program aimed at easing a food crisis in the...

Investing

With the reversal of the 1.25% rise in National Insurance Contributions happening on the 6th of November, employers across the nation have an opportunity...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Investing

The minute that any question pops into your head, you can simply ask Google. No longer do we have to pour over books and...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.