The General Authority of the Suez Canal Economic Zone (SCZone) has signed a Memorandum of Understanding (MoU) with H2-Industries to construct a waste-to-hydrogen facility at a new site in East Port Said. The project has an estimated cost of $4 billion.
Yehia Zaki, President of SCZone, explained that the MoU is not binding until H2-Industries has completed all feasibility studies, but hopes that the final contract will coincide with the change event. climate Cop27 in November.
H2-Industries, a global hydrogen generation and energy storage solutions company, will produce clean hydrogen to power Egypt’s domestic energy transition and enable it to become a clean hydrogen exporter and a major player in the new hydrogen economy.
“This project has the dual benefit of creating clean, valuable hydrogen while addressing the important issue of waste management using organic waste, including plastic waste,” said Michael Stusch, CEO of H2- Industries.
“We are confident that waste-to-energy power plants, with their unique impact on local GDP, the local environment and low-cost energy supply, will become an important part of every country’s energy portfolio”
“This is just the first of three international projects where governments around the world realize that organic waste and especially plastic waste, if handled properly, can be a valuable asset and used to generate quantities significant amounts of clean energy with our project in East Port. Said.”
He added: “We are confident that hydrogen power plants, with their unique impact on local GDP, local environment and low-cost energy supply will become an important part of every country’s energy portfolio, especially in Africa.