Carbon Negative Hydrogen Production
The climate crisis demands urgent and scalable solutions, especially for sectors that are notoriously difficult to decarbonize. Heavy-duty transportation, industrial power, and maritime shipping are among the major contributors to greenhouse gas emissions worldwide, and traditional fuel sources in these sectors continue to rely on fossil fuels, resulting in high carbon intensity. While renewable energy sources like solar and wind are transforming electricity generation, these hard-to-abate sectors require clean, low-cost, and low-carbon-intensity (CI) alternatives to fuel the transition to a net-zero future.
Renewable hydrogen, renewable natural gas (RNG), and renewable methanol offer a promising pathway to decarbonize transportation and industry. However, current production methods, such as steam methane reforming (SMR) and electrolysis, are costly and resource-intensive, requiring significant amounts of water, energy, and capital investment. The need for a more efficient, economically viable way to produce renewable hydrogen and other fuels has never been greater, and innovative companies like Proteum Energy are stepping up to meet this challenge.
Greenbackers is pleased to introduce Proteum Energy, a leader in low-to-negative carbon intensity renewable fuel production, as our ‘Deal of the Week.’
Why Proteum Energy:
Innovative Technology:
Proteum Energy has developed proprietary reformer technology that significantly reduces the carbon intensity of hydrogen, RNG, and methanol production. Their process is not only low-to-negative in carbon emissions but also uses less energy and water than traditional methods, setting it apart from standard SMR and electrolysis. Additionally, their technology produces valuable co-products such as RNG and renewable methanol, enhancing both the environmental and economic value of their offerings.
Business Model:
Proteum Energy operates with a flexible business model, producing and selling clean fuel products directly to clients. They employ models such as “DBOOM” (design-build-own-operate-maintain) and tolling fees, and in some cases, they license their technology to operating partners outside North America. This approach allows Proteum Energy to maximize its market reach while tailoring solutions to meet specific client needs.
Market Potential:
Proteum Energy’s innovative technology addresses diverse and rapidly growing markets:
- Clean Hydrogen (H₂): Industrial gas firms, fuel cell transport refuelers, OEMs, and power generation companies seeking sustainable hydrogen solutions.
- RNG: Utilities, sustainable aviation fuel (SAF) producers, and the transportation sector, which increasingly rely on RNG to reduce their carbon footprints.
- Renewable Methanol: Shipping companies, in particular, are moving toward renewable methanol as a cleaner alternative to conventional marine fuels.
- SAF Syngas Constituents: Fischer-Tropsch SAF producers, who are exploring sustainable sources of syngas for clean aviation fuel production.
Traction:
Proteum Energy has made substantial progress in its development and commercialization efforts:
- 2018: Began commercial service with Diamondback Energy.
- 2020-2023: Successfully raised $20M in equity funding to fuel growth.
- 2022: Completed an enhanced pre-FEED (Front End Engineering Design) for its Hydrogen Direct Fuel (HDF) system in collaboration with Plant Process Engineering.
- 2024: Achieved an intellectual property (IP) valuation of $300M USD and secured a revolving letter of credit valued at $120M USD.
Proteum Energy’s achievements underscore their ability to drive significant impact in the clean fuel sector, positioning them as a critical player in the transition to sustainable, low-carbon fuels.
Investment Snapshot:
- Type: Growth Funding Round
- Target amount: : $500k Bridge Round; $5m Series B
For further information or to speak with Proteum Energy directly contact:
Anton Themen at [email protected]
