Proteum Energy and Istmo Energy to Produce Low-Cost Hydrogen in the Permian Basin
Proteum Energy, LLC entered a binding Memorandum of Understanding (MOU) with Istmo Energy LLC for Proteum to provide low cost, low carbon intensity hydrogen to Istmo for production of "ultra-low sulfur diesel" and clean hydrogen.
Istmo Energy, headquartered in Fort Worth, Texas, and Proteum will negotiate the terms by which Proteum Energy will provide the low sulfur diesel and hydrogen for delivery to offtake customers in the Permian Basin, Mexico and California markets.
“Istmo Energy is pleased to have the option to leverage our onsite de-ethanizers to produce hydrogen from ethane for our hydrotreaters, while at the same time offer additional clean hydrogen sales in the Permian region,” said Alex Gutierrez, Principal and Co-Founder of Istmo Energy.
Specifications for the project are in the planning stages and the parties plan to commence project construction in Q3 2022.
“Proteum Energy is extremely pleased to be working with a strong partner like Istmo Energy providing innovative low emissions fueling solutions,” said Proteum’s CEO, Laurence B. Tree II.
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