Energy Harbor and the Department of Energy (DOE) have entered into final agreements to continue the development of a zero-carbon hydrogen production demonstration project at the Davis-Besse Nuclear Power Station near Toledo, Ohio, in collaboration with Idaho National Laboratory (INL), Xcel Energy, and Arizona Public Service.
Davis-Besse was selected by the DOE due to its ability to provide a carbon-free source of power, strong operational track record and proximity to the water required to produce hydrogen. In addition, Davis-Besse is situated in close proximity to key hydrogen consumers in the manufacturing and transportation sectors of the market.
The DOE funded pilot project will demonstrate the technical feasibility and economic viability of a hybrid hydrogen production system in order to facilitate large scale commercialization. Energy Harbor's Davis-Besse Power Station will provide the carbon-free nuclear power to a hydrogen production unit that will utilize Low Temperature Electrolysis (LTE) using Polymer Electrolyte Membrane (PEM) technology to produce 100 percent carbon-free hydrogen.
Engineering and site preparations are underway to operate the nuclear hydrogen production system in 2023. Energy Harbor's Executive Vice President and Chief Nuclear Officer, David Hamilton said, "We are committed to working alongside the DOE and INL to demonstrate nuclear's ability to provide clean, carbon-free hydrogen to the manufacturing and transportation sectors. Zero-carbon hydrogen is an important component of the energy transition currently underway."
U.S. Representative from Ohio's 9th Congressional District, Marcy Kaptur, added, "As Chair of the Energy and Water Development Appropriations Subcommittee, one of our highest priorities is creating reliable, clean energy sources that will power our future, create good-paying jobs, and protect the pocketbooks of hardworking families. This partnership with the Department of Energy National Laboratories will help position Northern Ohio as a regional hub for innovation and excellence in the hydrogen technology sector."
Energy Harbor is a financially secure independent power producer and fully integrated retail energy provider focused on safe and best-in-class operations and financial performance. With its fleet of reliable generating resources, including substantial carbon-free generation, Energy Harbor is well positioned for long-term value creation and competitiveness in a low-carbon future and is focused on enabling a growing customer and stakeholder base to meet their environmental, social and sustainability goals.
For more information on Energy Harbor visit www.energyharbor.com.
Forward Looking Statements and Further Information
This press release contains "forward-looking statements." All statements, other than statements of historical facts, that are included in this press release that address activities, events, or developments that Energy Harbor Corp. (the "Company") expects or anticipates to occur in the future (often, but not always, through the use of words or phrases such as "intends," "plans," "will likely result," "are expected to," "could" and "will continue"), are forward-looking statements. Although the Company believes that in making any such forward-looking statement its expectations are based on reasonable assumptions, any such forward-looking statement involves uncertainties and is qualified in its entirety by reference to the discussion of risk factors under "Risk Factors" available on the Investor Website (as described below) and the following important factors, among others, that could cause the Company's actual results to differ materially from those projected in such forward-looking statements: the actions and decisions of regulatory authorities; economic conditions and power pricing within the Company's territories and markets; the Company's ability to accomplish or realize anticipated benefits from strategic and financial goals; the uncertainties associated with the deactivation of remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including with respect to the timing and amounts of the capital expenditures that may arise in connection with any such proceedings; changes in customers' demand for power; and weather conditions affecting future sales, margins and operations.
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