- The G20 Summit concluded last month to disappointing results because of nations’ weak commitments to net-zero carbon emissions and phasing out coal
- The UN COP26 conference followed in earnest, and so far, India has made surprising commitments that inject new life into climate change talks
- With countries expressing reluctance to phasing out fossil fuels given their utility in driving and powering economies, FuelPositive has a game-changing solution
- FuelPositive’s system manufactures green ammonia that is economical and requires no supply chain because it is produced on site
- Green ammonia is a perfect carrier for hydrogen, which produces green electricity; it can also generate green energy on its own, providing an avenue to move away from fossil fuels
As curtains closed on the Group of 20 (“G20”) Summit on October 31, bringing to an end two days of negotiations that began October 30, one thing was clear. Despite the inevitable and indisputable catastrophe linked to unchecked climate change, the countries in attendance struggled to make firm commitments on issues such as net-zero carbon emissions and phasing out coal and fossil fuels (https://ibn.fm/U0FCz). Simply put, the results were, by and large, disappointing.
With fossil fuels driving nations’ economies and providing heat and energy for citizens in scores of other countries, including China and India, the Summit proved the complexity of coming up with changes that are commensurate with the scale of the environmental challenges resulting from the use of fossil fuels. Still, the leaders reaffirmed their support for the 2015 Paris Agreement to pursue efforts to limit the global average temperature increase to 1.5 degrees above pre-industrial levels (https://ibn.fm/1GAVF).
As attention turned to the United Nations Climate Change Conference (“COP26”) that kicked off on October 31 in Glasgow, Scotland, questions abound as to whether the conference would yield better results than the G20 Summit.
So far, India, the world’s third-largest emitter, through Prime Minister Narendra Modi, has pledged to reach net-zero emissions by 2070. In addition, the country has promised to cut carbon dioxide emissions by 1 billion tons by 2030. Modi has also committed to increasing non-fossil fuel power capacity from the previously announced 450 gigawatts (“GW”) to 500GW by 2030 when half of the country’s electricity will come from renewable energy.
Through these pledges, Modi “surprised delegates at the COP26 climate summit,” injecting “new life into talks that had been set back by a disappointing outcome from the Group of 20 meeting in Rome.” According to a Bloomberg article (https://ibn.fm/wB3YN), India’s goal, though two decades behind rich nations such as the UK and US, “is compatible with what scientists say is needed to avoid catastrophic global warming.”
Through its commitment to clean energy technologies, such as green ammonia (“NH3”), Toronto-based FuelPositive (TSX.V: NHHH) (OTCQB: NHHHF) provides a viable and actionable solution for countries such as India that are seeking to eliminate fossil fuels. The company also offers a much-needed resolution to challenges plaguing climate change talks, from the G20 to the COP26.
For the G20 Summit, for instance, fossil fuels appeared to have a stranglehold on countries’ decision-making because they drive economies and power countries – fossil fuels supply about 80% of the world’s energy. At the same time, however, fossil fuels, along with industries, account for 89% of global CO2 emissions (https://ibn.fm/7BNK7). So, on this front, green hydrogen is being considered as an ideal avenue to move away from fossil fuels.
Hydrogen offers the ability to store surplus renewable energy; decarbonize long-distance transport and industries, which are hard to electrify; and replace fossil fuels because it is a zero-carbon energy source. However, experts in the climate change community are cautious about hydrogen. Its production is energy-intensive and, up until now, emits considerable CO2 (https://ibn.fm/hcLxq).
Further, hydrogen presents storage and distribution challenges. This highly volatile element, which is lighter than air and the smallest molecule, has a propensity to escape, requires expensive and safe storage in pressurized containers. It also embrittles steel pipes, further complicating storage and transportation attempts.
Herein lies the key strength of FuelPositive. The company offers a game-changing solution through its modular, proprietary technology, which produces green ammonia on-site using water, renewable energy, and air.
For one, the FuelPositive system has no CO2 emissions. Secondly, being a perfect hydrogen carrier, green ammonia stores 65% more hydrogen than highly compressed hydrogen. Therefore, end users can simply convert the green ammonia to hydrogen for electricity production in a hydrogen fuel cell or combust it in ammonia powered turbines.
Ammonia, green or grey, is easy to store – we have 100 years of experience successfully and safely storing it. FuelPositive’s green ammonia solves the challenges associated with distributing hydrogen because it is produced on-site.
In addition, green ammonia can be used on its own as fuel without converting it back to hydrogen. In fact, liquid green ammonia has a higher raw energy density than both liquid and compressed hydrogen (https://ibn.fm/3hgFe).
FuelPositive expects to rollout demonstration units and programs for its green ammonia technology throughout 2022, a timely release especially given the renewed drive to address climate change as a direct impact of the G20 Summit and COP26.
For more information, visit the company’s website at www.FuelPositive.com.
NOTE TO INVESTORS: The latest news and updates relating to NHHHF are available in the company’s newsroom at https://ibn.fm/NHHHF
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