Cleaner Future: GE Vernova Inks MoU With Next Hydrogen For Green Hydrogen Production

General Electric Co's GE power business arm, GE Vernova, has signed a memorandum of understanding with Next Hydrogen Solutions Inc. for green hydrogen production.

GE Vernova's Power Conversion business will integrate Next Hydrogen's electrolysis technology with its power systems offerings to produce green hydrogen.

Electrolysis is a process to separate water molecules into hydrogen and oxygen and involves huge amounts of electricity.

Green hydrogen is a gas that is produced using a process that generates little to no greenhouse gas emissions and serves as a component for eFuels and ammonia products. 

"We are poised to drive the hydrogen revolution and contribute to decarbonization in diverse market segments, such as industrial gas, power, marine, and O&G industries by delivering turnkey systems that seamlessly incorporate Next Hydrogen electrolyzers," said Rodrigo Elias, general manager North America for GE Vernova's Power Conversion business.

The partnership will encompass installation, rigorous testing, and the integration of a Next Hydrogen water electrolyzer with a power supply designed and fabricated by GE Vernova.

In its inaugural phase, the parties plan to pioneer advanced power systems that align with the forthcoming generation of Next Hydrogen electrolyzers, which are scheduled to launch in 2024. 

Price Action: GE shares are trading lower by 0.29% at $119.72 on the last check Tuesday.