Vale and GEP partner in hunt for Brazilian green hydrogen opportunities
SAO PAULO, Oct 1 (Reuters) -Brazilian miner Vale VALE3.SA and Green Energy Park have agreed to team up to explore opportunities for green hydrogen production in the South American country, the mining giant said on Tuesday.
WHY IT'S IMPORTANT
Brazil has been looking to develop a green hydrogen industry as part of efforts to unlock new sectors to power its energy transition, with the government dubbing it a "real possibility" for the country to expand its footprint in renewables.
Vale meanwhile wants to focus on low-carbon initiatives for the steel industry as it aims to reach net-zero carbon emissions by 2050.
GOALS
Vale and GEP will jointly study the feasibility of building a green hydrogen plant in Brazil so it could eventually supply a "mega hub" the miner expects to develop in the country, according to a statement.
As part of its decarbonization efforts, Vale plans to make in the "mega hubs" iron ore agglomerates - pellets or briquettes - that would serve as an input for hot-briquetted iron, which would have renewable hydrogen as reducing agent.
KEY QUOTES
"Vale has been actively seeking partners to enable the construction of mega hubs in Brazil," the mining giant said. "The agreement with GEP is another important step in this direction."
BACKGROUND
Green hydrogen can be obtained by the electrolysis of water using renewable power and has emerged as an important way to lower emissions from sectors that are hard to decarbonize, such as transport and steelmaking.
GEP had previously partnered with Brazil's Eletrobras ELET6.SA to study green energy opportunities, while Vale has inked similar partnerships with H2GS and Hydnum Steel as it mulls building "mega hubs" in several countries.
Reporting by Gabriel Araujo; Editing by Jan Harvey
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