Hydrogen-fed fuel cell technology is growing in transportation and logistics fleet operations; the market potential in just those two applications is tremendous. Fuel cells are growing at double-digit rates.
Hamilton, NJ (PRWEB) June 06, 2013
According to a recent study by TechNavio, global demand for hydrogen is forecast to grow at a healthy 6.84% CAGR through 2016. The growth is driven in part by the growing global need for cleaner fuels. Plentiful, low-cost natural gas supplies which are one of the primary feedstocks used to produce hydrogen, are also contributing to the market’s growth in some regions, like the United States. A recent US Department of Energy report estimated that the boom in natural gas supplies could lower hydrogen production costs by as much as 40%.
International Process Plants has four hydrogen production plants available for immediate sale. The plants use natural gas as their primary feedstock. Hydrogen gas production capacities range from 1,500 to 22,500 Nm3 per hour; purity is 99.99% or better.
“These hydrogen plants represent an opportunity for industrial gas producers to capture the demand from emerging markets like fuel cells. The plants are also an opportunity for industrial consumers of hydrogen, such as oil refineries, to vertically integrate their supply chains,” says Michael Joachim, IPP Director of Plants. “Hydrogen-fed fuel cell technology is growing in transportation and logistics fleet operations; the market potential in just those two applications is tremendous. Fuel cells are growing at double-digit rates. Converting just 10% of the world’s forklift trucks alone would generate new demand for hydrogen of around $9 billion USD. To put that in perspective, a recent report estimated the US demand for all industrial gases, not just hydrogen, to be $9 billion.”
According to Joachim, despite these emerging applications, the hydrogen gas market is still heavily dependent upon oil refining, chemical manufacturing and metal manufacturing, with oil refining being the largest consumer. And, even though stricter environmental regulations are driving refineries to use more hydrogen, less than half of refineries have hydrogen production plants on site. “That means more than half of the refineries are depending upon outside sources for their hydrogen needs. They are competing with these new emerging markets for that hydrogen supply. Our previously used hydrogen gas plants are opportunities for these refineries to eliminate risk without investing heavily in building new hydrogen production facilities,” said Joachim.
The plants’ hydrogen production is a steam methane reformation process. A catalyst is used to increase the hydrogen content in the reforming step, and the hydrogen is purified using a pressure swing absorption (PSA) process. The age of the plants varies; the newest plant started production in 2007. All documentation is in place and there are no licensing or environmental issues involved in the purchase.
About International Process Plants
International Process Plants (IPP) is a self-funded global buyer and seller of surplus manufacturing facilities, process plants, industrial real estate, and individual equipment that are no longer needed by their original owners. 80% of IPP’s purchases are from multinational companies and 20% are bought in distress situations. IPP’s business model provides the opportunity for companies to acquire such assets at competitive prices and in a fraction of the lead time of building or buying new. IPP also serves as an outlet for companies looking to divest surplus assets quickly in a fiscally and environmentally conscious manner. IPP currently owns 17 complete plant sites including the land, buildings and equipment, 85 complete processes to be moved and operated elsewhere and a stock of 30,000 major pieces of process equipment. One of the largest firms in this business, IPP operates globally from its headquarters in the US and its company-owned operations in 16 other countries. In business for over 35 years, IPP serves 160,000 clients in the chemical, agrichemical, petrochemical, oil & gas, paper, plastic, power generation, metallurgical, fertilizer, artificial fiber, pharmaceutical and food industries. Learn more at http://www.ippe.com.