Hydrogen Source AS and Nordcon Oil and Gas AS sign Frame Agreement for Canadian clean Hydrogen produ
Hydrogen Source AS (HSAS) and Nordcon Oil and Gas AS have entered into a Frame Agreement as technology partners for testing of hydrogen technology at Nordcon operated fields in Alberta Canada. Hydrogen Source AS will bring the technology and Nordcon Oil and Gas AS, the land area and operational knowhow.
Hydrogen Source AS and Nordcon will set up a Canadian company where Hydrogen Source AS has 90% ownership and Nordcon Oil and Gas AS 10% carried ownership. Nordcon has an option to increase the ownership up to 30%
The project will be production of pollution free lowest cost hydrogen at one of the natural gas fields operated by Nordcon in Alberta Canada, through a new joint company to serve the entire Canadian Market. “We are pleased to partner with Nordcon, who have complementary capacities, experience, and local knowledge to develop the hydrogen production in Canada. We have jointly reviewed Nordcon gas fields in Alberta and are glad to have identified reservoirs suitable for a full-scale test of the technology, developed by HSAS. In this project a proprietary HSAS hydrogen in situ generation technology will be applied in a field in order to produce a dramatically lower cost hydrogen, without “black carbon” production and CO2 emissions to the atmosphere,” - says Kjetil Martin Stuland, CEO of Hydrogen Source AS. Nordcon is excited to collaborate with Hydrogen Source AS in a novel technological project which might enable first commercial green hydrogen production from the natural gas fields in Canada,” - says Torjer Halle CEO of Nordcon Oil and Gas AS.
Hydrogen Source AS is a Norwegian technology company that has developed and patented Hydrogen Generation from Hydrocarbons Sub-terrain (HGHS) process. HGHS allows to generate hydrogen in situ of the reservoir directly from natural gas and produce it in commercial volumes at a cost dozen times lower than current main hydrogen production technology Steam Methane Reforming (SMR), and much lower than electrolysis. 90% of hydrogen in the world today is produced by the SMR process with 700 million tons of CO2 emissions in the atmosphere. The success of the HSAS production method has the potential to eliminate virtually all such “greenhouse” gas emissions. The HGHS technology is a result of more than 10 years of R&D activities, which were started at NORCE Research Centre in Norway.
Nordcon Oil and Gas AS is a young company started in 2015. It was started based on relationship to a very experienced Canadian team that has worked in several Oil and Gas companies in the region for decades. Norwegian investors and Norwegian Management founded the company. Based on favourably acquisitions and new Crown land secured in the area where Nordcon has 3-D seismic, Nordcon as Operator, producing Oil and Gas.
The core business is production of Oil and Gas, but Nordcon are looking for new opportunities to reduce emission and take part in the future energy production.