StormFisher Hydrogen, a company that develops facilities to produce e-fuels from wind and solar power, has received a $30 million investment from ARC Financial Corp. The funding will help StormFisher Hydrogen expand its pipeline of projects in the United States and Canada, where it aims to decarbonize various sectors with its electrolysis-based fuels.
StormFisher Hydrogen, formerly known as StormFisher, has been focusing on low carbon fuel projects since 2006. After selling its organic waste-to-energy division, the company shifted its attention to e-fuels, which are fuels derived from renewable electricity. StormFisher Hydrogen has been working on e-fuel facilities since 2018, leveraging its experience in producing Renewable Natural Gas (RNG) at scale.
The company is developing several facilities that can convert up to 300 megawatts (MW) of renewable electricity into e-fuels such as clean hydrogen, e-methane, e-methanol, and green ammonia.
These e-fuels can be used to reduce the carbon footprint of hard-to-abate sectors such as natural gas utilities, heavy industries, and the marine sector. For example, each StormFisher facility can produce enough e-methane to lower the carbon emissions from over 60,000 homes, or enough e-methanol to fuel a container ship transporting 350,000 cargo containers from Europe to the United States.
To drive its expansion, StormFisher Hydrogen has re-enlisted three key executives from its past successes: Brandon Moffatt, EVP – Project Development and Execution; Chris Guillon, EVP – Commercial Operations and Finance; and Pearce Fallis, EVP – Project Origination and Development.
“We’re excited to bring our depth and expertise in low carbon fuel facility development to support global organizations seeking to reach net zero emissions,” said Jud Whiteside, CEO of StormFisher Hydrogen. “With this new funding, we now have the capital and partners to apply our years of experience building clean energy infrastructure to unlock the full decarbonization potential of e-fuels for organizations across the globe.”
“With its seasoned team and proven track record of developing successful projects, StormFisher Hydrogen is well positioned to lead the market as demand for hydrogen-derived fuels accelerates,” said Nishka Gupta, Chair of the Board of StormFisher Hydrogen and Senior Vice-President at ARC Financial.
“StormFisher represents our first investment from ARC Energy Fund 10 which is focused on the energy transition, highlighting our commitment to StormFisher Hydrogen,” added Brian Boulanger, CEO at ARC Financial.
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