Hydrogen storage: H2V and Vallourec sign partnership agreement
January 31 2024 - 2:21AM
Press release
Hydrogen storage:H2V and
Vallourec sign partnership agreement
Paris, January 31, 2024 -
Vallourec, a world leader in premium tubular solutions, and H2V, a
subsidiary of the SAMFI-Invest group, have signed a partnership
agreement at the Hyvolution trade show.
This partnership targets closer co-operation
between the two players, with a view to drawing on each other's
technical skills, market knowledge and development capabilities in
future projects. This includes investigating the potential
integration of the Delphy storage solution, developed by Vallourec,
with the green hydrogen production and use projects developed by
H2V in Marseille Fos. H2V has been a French pioneer in the mass
production of green hydrogen since 2016.
This agreement follows Vallourec’s entry into
the hydrogen storage market with the launch of Delphy, its first
large-scale vertical solution. Delphy consists of an underground
system capable of storing up to 100 tonnes of gaseous hydrogen
under maximum safety conditions. The system is designed for green
hydrogen producers and users for industrial applications and heavy
mobility. Delphy enables users to streamline their costs and offer
high supply safety levels. This solution establishes Vallourec as a
key player in the hydrogen value chain and represents a driving
force for carbon reduction worldwide.
Over the past two years, Vallourec has been
developing Vallourec® New Energies, its portfolio of solutions
designed to support energy transition, including geothermal,
hydrogen storage, carbon sequestration, solar and biomass
markets.
With an estimated workforce of over 50 in 2026,
H2V has a commercial portfolio of projects which will scale up to
1.8 GW of capacity in 2030 and more than 3 GW in 2040, based mainly
in France, Belgium, and the United Kingdom.
Philippe Guillemot, Chairman of the Board of
Directors and Chief Executive Officer, commented: “We are delighted
to expand our collaboration with H2V in the high-growth field of
green hydrogen. This memorandum of understanding demonstrates
Vallourec’s determination to use its expertise to help build a
cutting-edge hydrogen industry. It confirms the Group’s ambition to
become a key player in the transition to a low-carbon economy.”
“The pooling of our expertise is an excellent
signal for carbon reduction in the Marseille Fos industrial port
basin,” says Alexis Martinez, Managing Director of H2V. “I am
delighted with the future potential of this agreement, which is
designed to address electricity supply constraints. Being able to
stockpile hydrogen with Delphy will enable us to implement a more
flexible supply system.”
About Vallourec
Vallourec provides benchmark tubular solutions
for the energy sector and for some of the most demanding industrial
applications. Its offer ranges from oil and gas wells in extreme
conditions to high-performance mechanical equipment, as well as
solutions for the hydrogen, CCUS (Carbon Capture, Utilization and
Storage), geothermal and solar energy markets.
Listed on Euronext Paris (ISIN code:
FR0013506730, Ticker VK), Vallourec features on the CAC Mid 60, SBF
120 and Next 150 indices and is eligible for the Service de
Règlement Différé (SRD, “Deferred Settlement Service”).
In the United States, Vallourec has set up a
sponsored level 1 American Depositary Receipt (ADR) programme (ISIN
code: US92023R4074, Ticker: VLOWY). The parity rate between the ADR
and an ordinary Vallourec share is 5 to 1.
About H2V:
Mature projects that have been strategically established since
2016:
-H2V Normandie (200MW): operating licence and subsidies obtained
at the end of 2021, then project transferred to a competitor who
plans to start production by 2026.-H2V 59 Dunkirk (500 MW):
prefectoral decree authorising operation and construction permit
issued in November 2022 for phase 1 (200 MW). Site co-built in a
50/50 partnership to decarbonise the steel industry, with scheduled
start-up in late 2027.-H2V Marseille Fos 600 MW: preliminary
consultation completed in December 2023. 40 ha dedicated to the
production of green hydrogen and e-fuels. -H2V Thionville 400 MW:
launch of preliminary consultation in April 2024.Several projects
are also under consideration in France, the UK and Belgium.
For further information, please contact:
Investor
Relations Connor LynaghTel: +1 (713)
409-7842connor.lynagh@vallourec.com |
Press
relations Héloïse Rothenbühler Tel.: +33 (0)6 45 45 19
67heloise.rothenbuhler@vallourec.com |
Individual
shareholder relations Toll-free number: 0 800
505 110actionnaires@vallourec.com |
H2V press
relationsAnn-Katrin Bureau JégoTel.: +33 (0)6 64 68 84
81ann-katrin.bureaujego@h2v.net |
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