GIC & Hy24 will invest $115 million to accelerate the deployment of InterContinental Energy’s portfolio of ammonia mega-projects. In the USA, Electric Hydrogen has closed a $380 million Series C funding round, accelerating plans to build a gigafactory in Massachusetts and deliver its first PEM electrolysers in 2024.

OCI will offtake electrolytic hydrogen feedstock from New Fortress Energy’s ZeroParks facility from 2025, allowing for the production of 80,000 tonnes per year of renewable ammonia at its Beaumont plant in Texas. This “over-the-fence” feedstock approach will also be employed in the development of a new multi-million tonne per year, greenfield ammonia plant in Beaumont, with Linde to own & operate an adjacent, CCS-based hydrogen production plant.