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BP, Rio Tinto create Hydrogen Energy

Published May 18, 2007

Hydrogen Energy BP Rio Tinto

U.K. supermajor BP and mining company Rio Tinto have formed a joint venture aimed at creating “de-carbonized” power plants wich couple carbon capture and storage techniques with hydrogen removed from gas and coal for fuel.

The 50-50-owned new entity, Hydrogen Energy, will remove carbon first from natural gas, and later from carbon, as a way is sought to make the new power plants cleaner.

On the business side, previously announced hydrogen-fuelled power projects in Peterhead, Scotland and Carson, California will become part of Hydrogen Energy.

Rio Tinto will pay BP $32million to become part of the clean-air company, and will have its former head of business, Peter Cunningham, centre the company’s finances. Former BP hydrogen power leader, Lewis Gillies, will become Hydrogen’s chief exec.

The new, 75-strong company headquarters will be Weybridge, the south-east of England.

ws@oilgas24.com

 

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