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Technip and Air Products global hydrogen alliance marks 20 years of success

PARIS–(BUSINESS WIRE)– Regulatory News:

Technip (Paris:TEC) (ADR:TKPPY) (ISIN:FR0000131708) and Air Products are celebrating two decades of operational excellence and success to mark the 20-year milestone of the longest and most productive global hydrogen⁽¹⁾ alliance supporting the oil and gas industry around the world.

The global alliance⁽²⁾ was formed in 1992 to meet refining industry demands for outsourced hydrogen to make cleaner burning transportations fuels. During two decades, Technip and Air Products have constructed 35 steam methane reformer (SMR) hydrogen production plants. Located in 11 countries, the combined facilities provide the refining and petrochemical industry with more than 56 million standard cubic meters per day of hydrogen.

Thierry Pilenko, Technip’s Chairman and CEO, stated: “Technip is proud to be a member of this alliance. The valuable feedback we have received from the plants designed for Air Products, coupled with Technip’s high standards in design and engineering, have improved long-term operations, where reliability over the years is the main focus. In the end, the refining industry benefits by receiving a reliable and cost-effective source of hydrogen. In addition, our global footprint ensures that Technip can accompany its clients around the world, on their projects of tomorrow.“

John E. McGlade, Chairman, President and CEO of Air Products, said: “This alliance led the global refining industry’s major shift in decision-making to purchase hydrogen from a third-party instead of making its own. Outsourced hydrogen is supplied to our customers on a 24/7 basis in tonnage quantities, and is a critical requirement for refineries to meet clean fuels standards. We are very proud to have been working side-by-side with Technip on several continents to help our customers in helping to meet the world’s growing energy needs in the most reliable, efficient and sustainable manner.“

To commemorate the 20-year milestone of the alliance, Technip and Air Products awarded a total of $200,000 in scholarships to four colleges and universities: Indian Institute of Technology (Madras, India); King Abdullah University of Science and Technology (Saudi Arabia); Lehigh University (Bethlehem, Pennsylvania); and Rice University (Houston, Texas).

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⁽¹⁾ Hydrogen is widely used in petroleum refining processes to remove impurities found in crude oil such as sulfur, olefins and aromatics to meet the product fuels specifications. Removing these components allows gasoline and diesel to burn cleaner and thus makes hydrogen a critical component in the production of cleaner fuels needed by modern, efficient internal …read more

Source: FULL ARTICLE at DailyFinance

By Business Wirevia The Motley Fool

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NuScale Power Submits Letter Of Intent To Compete for U.S. Department Of Energy’s Funding Opportunity Announcement

PORTLAND, Ore.–(BUSINESS WIRE)– NuScale Power LLC announced today that it has submitted a Letter of Intent to respond to the recent Department of Energy (DOE) Funding Opportunity Announcement (FOA) to accelerate the deployment of the company’s small modular reactor technology.

“We are eager to be a part of DOE‘s important effort to provide assistance for design certification and ultimate deployment of SMR technology,” stated John Hopkins, NuScale’s Chairman and CEO. “This program would provide the groundwork for full domestic and international commercialization of the NuScale SMR technology, and in doing so, would help rejuvenate a U.S. nuclear supply chain.”

As the only U.S.-based company established solely for the deployment and commercialization of its SMR technology, NuScale has developed unique and proprietary break-through technology for an innovative, simple, safe, economic, and scalable small modular reactor. Using proven light water reactor (LWR) technology, the NuScale Power Module is cooled by natural circulation, is entirely self-contained and installed underwater and underground to maximize safety.

The NuScale design also represents 100 percent factory-fabricated modules, including containment, and is fully transportable by truck or rail to deployment sites. It takes advantage of the “economies of small,” enhancing potential market acceptance through improved safety, efficient operation, and attractive economics. At 45 MWe per operating module, the NuScale SMR design is attractive to markets that no other LWR SMR design can reach. A NuScale power plant can include as many as 12 NuScale Power Modules to produce as much as 540 MWe.

NuScale’s design development began in 2000 under a DOE-funded research program and reflects 13 years of advancement and refinement—validated through comprehensive testing in a one-third scale prototype test facility since 2003.

NuScale was the first US-based SMR vendor to begin discussions with the U.S. Nuclear Regulatory Commission beginning in 2008 and has been engaged in pre-application discussions since that time. With a DOE submittal deadline of July 1, NuScale’s application in response to the FOA will fully detail its approach to achieve a U.S. NRC Certification in a timeframe that would support commercial operation by 2025.

Backed by a proven delivery model, NuScale Power has the support and technical assistance of Fluor Corporation, the majority equity partner and exclusive EPC contractor to NuScale, as well as a variety of specialty contractors, providing best-in-class project management systems, processes, …read more
Source: FULL ARTICLE at DailyFinance

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Technip and Air Products global hydrogen alliance marks 20 years of success

NuScale Power Submits Letter Of Intent To Compete for U.S. Department Of Energy's Funding Opportunit

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