CSN Backs Silicon Valley Hydrogen Startup
According to the online media outlet Reset, CSN is banking on green hydrogen as an avenue to produce green steel. CSN is targeting a 10% reduction in the intensity of scopes 1 and 2 CO2 emissions by 2030.
“The potential is enormous,” said Gabriela Toribio, manager of CSN Inova Ventures, CSN’s venture capital fund.
While there are plans across the world to build green hydrogen production plants, the process is cost-prohibitive. According to Thiago Figueiredo, business director for 1S1 Energy, it costs around US$5 to produce a kilo of green hydrogen using electrolysis costs, but the “magic number is between US$1 or US$2.”
That’s why 1S1 Energy intends to produce more efficient membranes in a customizable, modular system.
“Storing and transporting hydrogen over long distances is still challenging in technical terms, in terms of cost and available infrastructure,” said José Noldin, responsible for technological strategy and decarbonization at CSN. “A modular and compact technology can be disruptive.”
While green hydrogen is not the “silver bullet” to decarbonization, Noldin said, it could have a significant impact.
Read more from Reset here.