MOSCOW (MRC) -- Olin Corporation, a leading vertically integrated chlor alkali producer and marketer, and Plug Power Inc., a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, have announced the signing of a memorandum of understanding (MOU) with the intention to create a joint venture (JV) to produce and market green hydrogen to support growing fuel cell demand in the global hydrogen economy, according to CISION.
The JV is the first of its kind and will provide reliability of supply and speed to market for green hydrogen throughout North America, setting the foundation for broader collaboration between the two companies. The first production plant in St. Gabriel, Louisiana will produce 15 tons per day (tpd) of green hydrogen.
This partnership brings together Olin, North America's largest producer of electrolytic hydrogen, with Plug Power, who is building an end-to-end global green hydrogen ecosystem. Under the JV, Plug Power will market the hydrogen and provide logistical support for delivery while Olin will provide reliable hydrogen production and operational support.
"Olin's 130-year history of producing hydrogen as part of our chlor alkali production process combined with Plug Power's leadership in the green hydrogen economy creates a powerful partnership to serve the growing demand for green hydrogen," noted Scott Sutton, Chairman, President, and CEO of Olin. "This JV is a key step for Olin as we seek to recognize the full potential of Olin's untapped hydrogen supply capabilities across North America. We are excited to partner with Plug Power, a true leader in sustainable hydrogen, to serve the fuel cell market."
The joint venture is expected to be operational in 2023.
As MRC informed previously, Olin Corp. (Calyton, Mo.) and Mitsui & Co., Ltd. (Tokyo) announced a global strategic alliance to better serve customers. The companies have agreed to a memorandum of understanding to establish a joint venture that brings together Mitsui’s top-notch global logistics, deep supplier and customer relationships, and breadth of product portfolio with Olin’s scale, North American export capability, and production flexibility across the electrochemical unit (ECU) portfolio.
We remind that a fire and chlorine spill at Olin Corp’s plant in Plaquemine, a tenant at the Dow Chemical facility, was reported to Iberville Sheriff’s office around 8:40 p.m., on 18 April, 2022. Louisiana authorities lifted a shelter-in-place order within five hours of issuing it after a chlorine leak on Monday.
Olin Corporation was founded in 1892 and is currently based in Clayton, Missouri, USA. The company's activities are concentrated in three segments: the production of military ammunition and chlor-alkali products, and their distribution. It is one of the main producers of polyvinyl chloride in the USA along with Shintech, Formosa Plastics, Westlake Chemical and Axiall.
Plug Power is building an end-to-end green hydrogen ecosystem, from production, storage and delivery to energy generation, to help its customers meet their business goals and decarbonize the economy.