StormFisher Hydrogen has secured a $30 million investment to enhance the development of its portfolio of low-carbon fuel projects in the United States and Canada. The capital injection comes from ARC Financial Corp, with the objective of accelerating the production of fuels through electrolysis, such as hydrogen, e-methane, e-methanol and green ammonia.
In addition, the company has committed to implement a plan within the next 5 to 10 years. The purpose of this project is to upgrade its facilities to be able to convert up to 300 MW of electricity from renewable sources, such as wind and solar, into fuels.
An investment that maximizes decarbonization
From StormFisher’s management, Jud Whiteside, its CEO, emphasized that “this investment is a catalyst that will bring together the capital and strategic partners needed to maximize the decarbonization potential offered by e-fuels globally.”
Nishka Gupta, who chairs StormFisher Hydrogen’s board of directors and serves as senior vice president at ARC Financial, highlighted the company’s participation in the ARC Energy Fund 10, focused on energy transition. According to Gupta, StormFisher is uniquely positioned to lead the market under the accelerating demand for hydrogen-derived fuels.
More fuel projects
StormFisher has reinstated some of the top executives it has counted on in the past. These include Brandon Moffat, who becomes executive vice president of Project Development and Execution, Chris Guillon, who becomes executive vice president of Commercial Operations and Finance, and Pearce Fallis, executive vice president of Project Origination and Development.
With the recent investment and strengthening of its management team, the company is poised to meet the challenges and play a crucial role in reducing its carbon footprint. reducing the company’s carbon footprint. .
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Source: StormFisher Hydrogen
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