OMV and Austria’s Kommunalkredit invest 25 million Euro in green hydrogen production
OMV and Kommunalkredit Austria AG (Kommunalkredit) have announced a joint investment in the construction of Austria’s largest electrolysis plant in the OMV Schwechat Refinery. Total investment will be around 25 million Euro, with OMV and Kommunalkredit each bearing half the cost. The plant is expected to go live in the second half of 2023.
From this point, the 10 MW PEM (polymer electrolyte membrane) electrolysis will produce up to 1,500 metric tons of green hydrogen a year. The green hydrogen will be used to hydrogenate bio-based and fossil fuels, substituting grey hydrogen in the refinery.
This would reduce OMV’s carbon footprint by up to 15,000 metric tons of fossil CO2 annually, and enables by using green hydrogen more than 17 million CO2 emission free bus or truck kilometers each year.
“By building Austria’s largest electrolysis plant in the OMV Schwechat Refinery, we are making another contribution to reducing CO2 and to meeting climate targets, whereby hydrogen is a key technology. We deliberately opted for green hydrogen production on an industrial scale as we see the potential it holds – for lower-carbon road use as well as for reducing CO2 emissions in industrial operations”, said Thomas Gangl, OMV Chief Downstream Operations Officer.
Promoting the EU’s Green Deal, the energy transition and sustainable infrastructure and energy financing, Kommunalkredit is focused on advancing innovative technologies in its Austrian home market to address major challenges such as economic growth, job creation, and climate-protection measures.
“This project is a milestone in Austria’s industrial policy under the EU Green Deal. We take our responsibility towards society seriously, to contribute to measures that help to prevent climate change. As a member of the “European Clean Hydrogen Alliance”, we are backing our words with actions, supporting the construction of the electrolysis plant with green financing, and thereby making an important contribution, together with OMV, to the United Nations’ SDGs”, said Bernd Fislage, CEO of Kommunalkredit Austria AG.
The project is supported by the Austrian Climate and Energy Fund and is part of the Hydrogen Initiative Energy Model Region Austria Power & Gas (WIVA P&G).