JACKSON/GULFPORT, Miss., May 11, 2023 (GLOBE NEWSWIRE) -- Today, Hy Stor Energy LP (Hy Stor Energy), a company pioneering carbon-free renewable hydrogen production and storage at scale, announced that it has applied for U.S. DOE funding support for the MCHH through the U.S. DOE’s Regional Clean Hydrogen Hub initiative.
MCHH distinctively benefits from existing private investment in Hy Stor Energy that predates recent federal legislation providing for energy infrastructure financial support through loans, grants, and tax incentives. With ‘shovel-ready’ sites suitable for renewable hydrogen production and storage within the planned MCHH footprint, the strategic federal investment of up to $1 billion in the MCHH would rapidly scale Hy Stor Energy’s development into a multi-billion-dollar project to establish Mississippi as one of the nation’s largest producers of clean hydrogen.
Set to break ground as early as 2023, the MCHH will create a fully integrated clean hydrogen ecosystem for the production, storage and delivery of dispatchable renewable energy. Development of the MCHH will put the entire state of Mississippi at the forefront of efforts to strengthen regional energy resilience, establish partnerships to prioritize education, and pursue equitable distribution of energy investments. The projects envisioned in the funding application will support communities throughout Mississippi and the Gulf Coast region to create new long-term economic development and sustainable jobs.
The foundation of the MCHH project plan is the distinct geology of Mississippi, which hosts a significant amount of the unutilized salt cavern underground energy storage capacity available for development in the U.S. The MCHH will be organized around purpose-built underground salt dome hydrogen storage networks that will offer economical large-scale, long-duration energy storage. The MCHH’s geological endowment and critical access to the heartland of the U.S. via major logistics and shipping corridors make it a vital hydrogen storage and transmission location.
Hy Stor Energy is engaging with industrial, logistics and community partners to collaborate on clean hydrogen demand and development opportunities throughout the Southeast and Gulf region. The MCHH will deliver to these stakeholders a number of key benefits:
- Investing in Mississippi – Hy Stor Energy is partnering with local organizations to provide training, apprenticeships, educational programs and job placement opportunities centered on the MCHH. On a broader scale, Hy Stor Energy aims to make the energy transition and its benefits accessible to all Mississippi communities and residents.
- Facilitating multi-sector decarbonization – The MCHH will supply zero-carbon hydrogen in large quantities around the clock, enabling energy-intensive industries, including steel, chemicals and agri-nutrients, to decarbonize their operations rapidly and lead the way toward a low-carbon future.
- Recruiting investment and jobs by establishing resilient circular economies – The MCHH will attract new industry and manufacturing to Mississippi and the Gulf Coast region, while strengthening the domestic supply chain. The ready availability of clean hydrogen will promote the establishment of resilient green economies within heavy industry, transportation and logistics, enabling each sector to support the communities these industries reside in and serve.
- Creating and scaling clean transportation infrastructure – The MCHH will promote the development of regional transit corridors and inland waterways through which people and goods will move economically and efficiently by clean and accessible rail, road and maritime modes of transport.
“Every aspect of the MCHH’s operations will benefit local communities through job creation, education opportunities and so much more. By scaling our operations, we’re addressing a critical need for energy storage, resilience and reliability in Mississippi. In doing this, we will remain committed to lowering the energy cost burden on residents and decreasing their exposure to harmful emissions,” said Laura L. Luce, CEO of Hy Stor Energy. “The MCHH will be one of the largest investments in Mississippi ever made. By positioning the MCHH to take advantage of both public and private investments, Hy Stor Energy is actively promoting the transition to renewable energy and accelerating the adoption of innovative clean hydrogen and long-duration energy storage technologies across the Gulf Region and beyond.”
Poised for continued growth, which federal Hydrogen Hub funding would bolster, MCHH will enable the transition of existing manufacturing and transportation systems to lower-carbon sources of energy, and will attract new, low-emission industrial manufacturing capacity to Mississippi. The MCHH’s vast expansion potential makes it well-positioned to serve as a Strategic National Hydrogen Reserve, providing a robust foundation for the U.S. to capitalize on the growing clean hydrogen market.
About Hy Stor Energy
Hy Stor Energy is facilitating the transition to a fossil-free energy environment by developing and advancing renewable hydrogen at scale. Its large, fully integrated projects will produce, store and deliver carbon-free renewable energy, providing customers with safe, cost-efficient, and reliable renewable energy on-demand. Developed as part of a scalable integrated hub, these projects couple on-site renewable hydrogen production with integrated long-duration energy storage. Hy Stor Energy, led by energy storage industry and hydrogen technology veteran Laura L. Luce, has an innovative team with deep expertise and is positioned as a leader in the renewable hydrogen revolution. For more information, please visit www.hystorenergy.com.
About Hy Stor Energy’s Mississippi Clean Hydrogen Hub
The MCHH offers a comprehensive plan for the development of a clean hydrogen hub delivering renewably produced hydrogen production, storage, distribution and consumption projects at a scale never before achieved in the U.S. Set to break ground as early as 2023, the project is anticipated to achieve clean hydrogen production and the provision of long-duration energy storage.
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