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Shell-led consortium

selected by DoE to

demonstrate feasibility of
large-scale liquid hydrogen

storage

A consortium of public, private and academic
experts led by Shell International Exploration
GuildOne team and it’s exciting to formally the adoption of hydrogen as a universal fuel, and Production, Inc. (Shell), a subsidiary
partner. They share our view of the critical today announced a funding round yielding of Royal Dutch Shell plc, is pioneering an
importance of the energy supply chain, and $62mn in new capital. New investors in ambitious path to enable large-scale liquid
that better data and tools can immediately the round include Mitsubishi HC Capital, hydrogen (LH2) storage for international
drive economic and environmental Tencent, Stratos, GE Aviation, Waltzing trade applications. This is a largely untapped
improvement,” said Nouman Ahmad, co- Matilda Aviation, Fourth Realm, Hawktail, field with potential for advancing the
founder and CEO, Validere. “Our customers Marc Benioff’s TIME Ventures, Jeff Wilke, global commercialisation of hydrogen as an
have always been fully aligned in measuring and Spencer Rascoff’s 75 and Sunny Ventures. accessible, affordable and low carbon energy
and reducing their impact and this is an The company’s prior financing round in April commodity.
additional way we can help support markets 2021 included Playground Global, Fortescue Shell and the consortium partners –
to incentivise and accelerate these emission Future Industries, Coatue, Global Founders including McDermott’s CB&I Storage
reductions. Partnerships such as this are Capital, Plug Power, Airbus Ventures, JetBlue Solutions, NASA’s Kennedy Space Center,
critical in accelerating carbon capture.” Technology Ventures, Toyota Ventures, Sojitz, GenH2 and the University of Houston –
“This once again demonstrates the Future Shape, and Trucks, most of whom also have been selected by the U.S. Department
potential of blockchain technology, where participated in the current round. This brings of Energy’s (DOE) Hydrogen and Fuel Cell
data-intense software companies such as Universal Hydrogen’s total capital raised to Technologies Office to demonstrate that a
Validere and their clients are interested in date to $85mn. large-scale LH2 tank, with a capacity ranging
connecting primary data sources for the When every day counts in the fight against from 20,000 to 100,000 cubic meters, is both
creation of new assets that drive global catastrophic climate change, this funding feasible and cost competitive at import and
emissions reductions,” said GuildOne CEO will enable Universal Hydrogen to conduct export terminals. The DOE has awarded
James Graham. “Validere creates great the first test flight of its hydrogen fuel cell $6mn to finance the project, and Shell and
primary data audit trails from industry powertrain on a 40+ passenger regional CB&I Storage Solutions will both provide an
instruments and data sources, and the airliner in 2022 at Moses Lake, Washington. additional $3mn each, for a total project fund
blockchain component from GuildOne The green hydrogen for the flight will be of $12mn.
now allows that data to be shared with supplied using Universal Hydrogen’s modular “A cost-effective, long-range hydrogen
counterparties in a way that significantly fuel capsules that enable the delivery of supply chain can have a transformative impact
reduces friction.” hydrogen from the point of production in shaping a sustainable future for energy,”
Validere helps more than 40 producers, directly to the aircraft using the existing said Yuri Sebregts, chief technology officer for
midstream, and downstream energy freight network and airport cargo handling Shell. “Our consortium recognises that this
companies consolidate their commodity equipment—without the need for any new project can become a cornerstone in making
inventory data into a single repository, so they infrastructure. The proprietary modular that future possible. It’s a sizable engineering
have a detailed “genealogy” of every molecule capsule technology is significantly lighter than challenge – but we have the right people,
as it progresses through the energy supply the current state of the art in hydrogen storage partners and outlook to deliver this first-of-
chain. and is designed from first principles for flight its-kind LH2 storage technology.”
VALIDERE, October 14, 2021 and ground transport safety certification. “McDermott is leveraging the sixty years of
The company anticipates entry into LH2 storage technology expertise of our CB&I
Universal Hydrogen commercial service in 2025 with a certified Storage Solutions business to exponentially
scale up safe capacity thresholds to meet
retrofit conversion kit for existing ATR 72
secures additional $62mn and De Havilland Canada Dash-8 regional growing demands,” said Samik Mukherjee,
executive vice president and chief operating
airliners and a green hydrogen fuel services
in financing to accelerate offering. Together, these will provide officer, McDermott International. “This
regional operators with unit economics
consortium will accelerate that momentum
first test flight of hydrogen- that are equivalent or better than those of as we work together to advance the next
conventional jet fuel-powered variants of
generation of sustainable energy.”
powered regional aircraft to the aircraft. Universal Hydrogen has secured MCDERMOTT INTERNATIONAL, October 13,
a substantial commercial order pipeline,
2021
2022 including previously-announced LOIs from
Icelandair, Air Nostrum, Ravn Alaska, and
Universal Hydrogen, the company leading ASL Aviation Holdings.
the fight to decarbonise aviation through UNIVERSAL HYDROGEN, October 14, 2021

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