Ohmium has signed a Term Sheet with SwitcH2 BV to develop PEM electrolyzer solutions for a groundbreaking 300 MW Offshore Floating Ammonia Project

Ohmium International, a green hydrogen company that designs, manufactures and deploys advanced Proton Exchange Membrane (PEM) electrolyzer solutions, announced today that it signed a Term Sheet with SwitcH2 BV, a renewable energy Joint Venture with partners such as BW Offshore, a leading provider of offshore production solutions. Under the agreement, Ohmium will develop PEM electrolyzer solutions for a pioneering 300MW offshore floating green hydrogen and ammonia synthesis project led by SwitcH2.

Located off the coast of Southern Europe, the project will create an industrial scale floating green hydrogen and ammonia production facility based on proven Floating Production, Storage and Offloading (FPSO) technologies. 300 MW of Ohmium’s PEM electrolyzer solutions will be installed on board SwitcH2’s 268 meter Floating Production, Storage and Offloading (FPSO) vessel. When complete, the 300MW floating facility will have an annual production capacity of up to 55,000 tonnes of green hydrogen and almost 300kton of green ammonia – enough to fuel multiple oceangoing vessels for a full year.

Ohmium's PEM electrolyzers will utilise nearshore solar and wind power, along with treated seawater, to produce green hydrogen. The hydrogen will be fed into an on-deck ammonia synthesis unit, and the resulting product will eventually be offloaded onto an ammonia carrier for transport to offtakers. With support from the Dutch government and approval in principle for its design by the Norwegian certification agency DNV, the project anticipates green ammonia production by 2029.

“We are pleased to have Ohmium join us in making this pioneering project possible,” said SwitcH2’s director and co-founder Bob Rietveldt. “Ohmium’s compact, hyper modular PEM electrolyzers are ideally suited for the space constrained FPSO setting. Their product delivers high efficiency, and the comprehensive, standardized design enables flexible and rapid installation, at scale.”

“Ohmium is thrilled to be part of this cutting edge and transformative project,” said Arne Ballantine, Ohmium CEO. “We appreciate the expertise that SwitcH2 Joint Venture brings to offshore floating production, and their vision in leveraging renewables and green hydrogen for the creation of green ammonia. The market for green ammonia is poised to grow exponentially in the coming decades, especially as a source of clean fuel for the global shipping industry, and Ohmium is looking forward to collaborating with SwitcH2 in helping address that need.”

About Ohmium

Ohmium designs, manufactures, and deploys modular, scalable Proton Exchange Membrane (PEM) electrolyzers that enable cost-competitive green hydrogen production. The company’s suite of electrochemical products helps customers achieve their sustainable energy goals across various industrial, transportation, and energy projects. Headquartered in the United States with manufacturing facilities in India and operations worldwide, Ohmium has a global green hydrogen project pipeline exceeding 2 GW across three continents. In 2023, Ohmium raised $250 Million in Series C financing, led by TPG Rise Climate.

About SwitcH2 BV

SwitcH2 BV is a project development company, engineering and operating the next generation of offshore floating production systems for the delivery of green hydrogen and green ammonia for industrial offtakers. Jointly with our shareholders BW Offshore and Dutch Oceans Capital, we represent decades of offshore experience which we bring to live in innovative renewable energy systems. For more information, please visit: https://switch2offshore.com/

View source version on businesswire.com: https://www.businesswire.com/news/home/20241017790557/en/

Karina Alexanyan
Ohmium Communications
Karina.alexanyan@ohmium.com

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