Switch2 and CorPower Ocean Partner on Wave-Powered Green Ammonia
SwitcH2 is making waves in the renewable energy sector by partnering with CorPower Ocean to create a groundbreaking floating green ammonia production facility. This facility will be partially powered by wave energy, marking a significant step towards sustainable industrial practices. With support from Norway-based BW Offshore and Dutch Oceans Capital, SwitcH2 is at the forefront of developing offshore green hydrogen and green ammonia production units. These units will utilize proven floating production, storage, and offloading (FPSO) technologies, integrating various renewable energy sources to ensure a consistent supply of green electricity.
Harnessing Renewable Energy for Green Ammonia Production
The innovative project will incorporate a mix of renewable energy sources, including wind, solar, and now wave energy. By harnessing these resources, SwitcH2 aims to create a balanced and reliable energy supply for its electrolysis processes. The Dutch Government’s GroenvermogenNL TSE (Top Sector Energie) scheme is backing this initiative with grant funding, which will help facilitate the launch of an open-sea project in northern Portugal.
The NH3-FPSO unit will be a newly built vessel, comparable in size to a Very Large Crude Carrier (VLCC). This vessel will support a 300MW electrolysis plant on its deck, producing green ammonia. The ammonia will be temporarily stored in pressurized tanks on the vessel before being exported to shore using dedicated shuttle carriers. The floating facility is projected to achieve an annual production capacity of nearly 300 kilotons of green ammonia, enough to fuel several oceangoing vessels for an entire year. The project anticipates commencing green ammonia production by 2029, positioning itself as a key player in the growing green ammonia market.
The Growing Market for Green Ammonia
The global green ammonia market is poised for significant growth. Currently valued at approximately USD 0.7 billion in 2024, it is expected to soar to USD 55 billion by 2032. This growth is driven by the increasing demand for sustainable fertilizers and the need to decarbonize the shipping industry, which accounts for about 3% of global emissions. Green ammonia is favored for its high energy density and ease of storage, making it an ideal fuel choice for reducing carbon footprints in various sectors.
Saskia Kunst, Director and co-founder of SwitcH2, expressed enthusiasm about the collaboration with CorPower Ocean. She noted that integrating wave energy into their production system adds economic advantages to their already competitive offshore model. Kunst highlighted the buoyant market for green ammonia, which is projected to expand six-fold by 2050. The project aims to contribute significantly to decarbonizing hard-to-abate sectors, including global shipping.
Future Prospects and Expansion Plans
SwitcH2 is not limiting its ambitions to Portugal. The company is actively exploring high-impact opportunities in various regions. Plans are underway for projects in West Africa, focusing on ammonia exports to Northwestern Europe. Additionally, initiatives in the Dutch sector of the North Sea aim to facilitate hydrogen exports, feeding into the Dutch national hydrogen backbone. These projects are crucial for advancing SwitcH2’s goal of achieving gigawatt-scale production.
Kunst emphasized the flexibility of a floating production system, stating that it can be deployed globally wherever there is access to competitively priced wind, wave, or solar energy. This adaptability positions SwitcH2 as a leader in the renewable energy landscape.
Meanwhile, CorPower Ocean has recently secured EUR 32 million in Series B1 funding, marking the largest single investment in its wave energy technology. This funding is a significant milestone for the wave energy sector, propelling it closer to becoming a mainstream energy source. The collaboration between SwitcH2 and CorPower Ocean represents a promising step towards a cleaner, more sustainable future powered by renewable energy.
