September 2, 2021, Vladivostok, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces entering into a cooperation agreement with H2 Chistaya Energetika for development joint projects in the field of hydrogen energy. Sergey Machekhin, Deputy Director General for project engineering, sustainable development and international cooperation of RusHydro and Alexey Kaplun, General Director of JSC H2 Chistaya Energetika signed the agreement at the Eastern Economic Forum.
Within the agreement, both parties will research opportunities for construction of new hydropower plants to supply electricity to produce hydrogen and chemical compounds on its basis. Joint scientific research studies in the field of hydrogen energy will take place including implementation of fuel cells and power storage systems based on hydrogen.
Interest in hydrogen energy is increasing year over year. Hydrogen is a highly efficient environmentally friendly fuel produced in the process of water electrolysis. Such process requires a large volume of electricity, which can be supplied by hydropower plants. Since HPPs are considered renewable energy sources, the hydrogen produced using electricity from HPPs is considered environmentally friendly and carbon-free. Being Russian leading company in production of renewable energy, RusHydro is interested in developing and promoting hydrogen technology.