Swedish firm S2H2+Bm is unveiling ambitious plans for a green hydrogen production plant in Morocco, with operations expected to commence by 2025. Led by CEO and founder Magnus Pousette, the company aims to disrupt the green hydrogen market by achieving a production capacity of 500,000 tons annually from the Moroccan plant by 2030.
The initial phase of the project involves installing 15 megawatts peak (MWp) photovoltaic panels to power a 3.1-megawatt (MW) hydrogen plant. This scalable venture is designed to meet growing demand, and the company anticipates achieving a highly competitive production cost of less than $2 per kilogram of green hydrogen in Morocco.
Pousette emphasized the cost advantage of leveraging low-cost factors in renewable energy production, particularly solar energy, rather than relying on sophisticated electrolyzer technology. The company has already filed patent applications for innovative panel mounting solutions and received positive responses from Moroccan authorities.
While the specific location of the plant remains undisclosed, the company is considering the southern half of Morocco, described as a world-class Photo-Voltaic Power Potential (PVPP) location, for efficient and cost-effective energy production.
To facilitate the export of green hydrogen to the European market, S2H2+Bm is developing transport solutions using high-pressure tubes in standard containers initially, with plans for specialized tankers in the future. Pousette revealed plans for additional capital infusion in the first quarter of 2024, targeting investors and strategic partners to support the Morocco venture.
“In Q1 2024, we will close Round 6, raising additional capital. Details of this will be communicated in December for targeted strategic investors and partners,” the company stated, expressing enthusiasm for the positive response from the Moroccan government in facilitating approvals and permits for the project.
