Akzo Nobel N.V. (AKZA.AE) said that its specialty chemicals business, together with Gasunie New Energy, is considering building a 20 megawatt electrolysis plant in the Netherlands to convert water into hydrogen using green energy.
The aim of the project is to store green energy in the form of hydrogen through electrolysis, using electricity to convert water into the gas, the industrial paints and chemicals company said.
Akzo said that the eventual aim is to build even larger plants to store green energy as hydrogen. Currently the largest planned electrolysis plant in the Netherlands has a 1 megawatt capacity, it said.
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(END) Dow Jones Newswires
January 09, 2018 04:53 ET (09:53 GMT)