by chris@covertcommunication.com
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by chris@covertcommunication.com
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PROVIDENCE, R.I., Jan. 28, 2025 (GLOBE NEWSWIRE) — E2SOL LLC and HOGREEN AIR Co. Ltd, both well established and recognized internationally as innovative companies, announced today that the two companies have signed a memorandum of understanding on January 9, 2025, at the Consumer Electronics Show (CES25) and Conference to jointly develop a framework for further development and commercialization of Hydrogen generation, storage, and distribution in commercial and industrial American markets.
The U.S. hydrogen generation market size was estimated at USD 19.86 billion in 2023 and is expected to grow at a CAGR of 8.7% from 2024 to 2030. With rising government regulations towards sustainable energy sources, the investments in smart “energy-saving” residential and commercial buildings have also increased providing an impetus growth in the adoption of hydrogen for energy generation. Hydrogen is also a financially viable option to investors as it complies with federal and environmental regulations while effectively catering to the ever-increasing demand for energy. (1)
E2SOL and HOGREEN AIR are working to further accelerate initiatives aimed at commercializing generation, storage, and distribution of liquid hydrogen and adoption of fuel cells in Urban Mobility and Commercial-Industrial markets, contributing to the reduction of carbon emissions, augmenting Grid infrastructure and the preservation of critical clean air sources for society. In anticipation of collaboration in areas such as hydrogen technologies, ongoing discussions among the companies are being conducted on a broad industrywide and technological scope.
As new energy systems continue to evolve, it is essential to create new products value streams by integrating the technologies, experience and knowledge accumulated by each company leveraging their combined 24 years in the industry.
Comment from Anthony Baro, Managing Principal, E2SOL
“We are very pleased and excited to develop a strategic partnership between E2SOL and HOGREEN Air for the development and commercialization of Hydrogen energy and Fuel Cell systems in Urban Mobility and Commercial-Industrial markets.”
Comment from Hong Seong- Ho, Chief Executive Officer, HOGREEN Air Co. Ltd
“We are thrilled to embark on this strategic partnership with E2SOL, a leader in innovative energy solutions. Together, we aim to revolutionize the hydrogen fuel cell system by introducing cutting-edge technologies for hydrogen generation, storage, and fuel cell adoption. This collaboration marks a significant step toward realizing a sustainable future, aligning with our shared vision to combat climate change and drive global decarbonization efforts. Furthermore, we see this partnership as a crucial steppingstone for HOGREEN Air to actively pursue expansion into the US market, leveraging E2SOL’s strong presence and expertise in the region. We are confident that this collaboration will not only benefit both companies but also contribute significantly to the advancement of hydrogen technology and the global transition towards a cleaner energy future.”
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