Schlumberger New Energy, the CEA and partners said Jan. 11 that it received the European Commission’s approval for the formation of Genvia, a clean hydrogen production technology venture.
In a unique private-public partnership model, Genvia combines the expertise and experience of Schlumberger and the CEA with VINCI Construction, Vicat, and the investment vehicle of the French Occitanie Region, l’Agence Régionale de l’Energie et du Climat (AREC).
Hydrogen is a versatile energy carrier and a key component of the energy transition for many countries targeting carbon neutrality by 2050. The new venture will accelerate the development and the first industrial deployment of the CEA high-temperature reversible solid oxide electrolyzer technology, as the most efficient and cost-effective technology for clean hydrogen production.
Broad and deep alliances are critical to reach hydrogen production goals, evolving applications and creating a new energy infrastructure.
Genvia technology aims to achieve the highest system efficiency, resulting in significantly less electricity use per kg of hydrogen produced. The technology is the first of its kind that is fully reversible, giving it the flexibility to switch between electrolysis and fuel cell functions.
“Clean hydrogen production is critical for the world to meet its energy transition goals. Genvia will bring together outstanding science and advanced engineering to accelerate the development of a core technology to unlock affordable hydrogen production, energy storage and fuel applications at scale,” Olivier Le Peuch, CEO of Schlumberger, said.
The manufacturing of solid oxide electrolyzers will occur at the Genvia gigafactory, which will be established in Béziers, Occitanie Region, France. The center for technology transfer will be located at the CEA site in Grenoble, France.
U.S. shale producers that are hedging are likely locking in about 15% to 20% of production at a time, said Tom Petrie, chairman at energy investment bank Petrie Partners.
Higher oil prices will fall directly to U.S. shale producers' bottom lines given recent cost cuts and commitments to keeping output flat.
The incoming Biden administration signals an acceleration in the energy transition, while fossil fuel producers count on a COVID-19 vaccine to help demand recover.