Parties sign Memorandum of Understanding providing for MHA Nation to be gas supplier for clean hydrogen production
Bismarck, ND and Westlake Village, CA, Feb. 09, 2022 (GLOBE NEWSWIRE) -- Clean hydrogen infrastructure developer Bakken Energy and its partner Mitsubishi Power Americas Inc. have signed a Memorandum of Understanding with the Mandan, Hidatsa, and Arikara (MHA) Nation laying the groundwork for MHA Nation to become the natural gas supplier for the Great Plains Hydrogen Hub.
"The MHA Nation is excited to become part of this world class clean hydrogen development," said Mark N. Fox, Chairman of the MHA Nation. "Natural gas from the Fort Berthold Indian Reservation will enable the clean energy we need to save our planet, and in the process will allow us to put in place the infrastructure needed to end the excessive flaring of natural gas on our lands, improving the quality of life of our members."
"I believe it is possible to develop the clean energy our country needs while doing good in local communities," said Jim Sinegal, Costco co-founder, retired CEO and a major shareholder in Bakken Energy. "Partnering with the MHA Nation allows our Great Plains Hydrogen Hub to do just that."
"Bakken Energy's Great Plains Hydrogen Hub is a bold undertaking, but we embrace it and we welcome with open arms the MHA Nation as a partner in this project," said Steven Lebow, Chairman and Founder of Bakken Energy. "For us, the Hub is the beginning of building the next great company in the clean energy field, focused on making clean, affordable hydrogen available to drive hydrogen adoption and accelerate decarbonization."
The Great Plains Hydrogen Hub is the redevelopment of Basin Electric Power Cooperative's Great Plains Synfuels Plant, originally built in 1984, will serve the upper Midwest and is expected to be commercially operational in early 2027 when it will be one of the largest clean hydrogen production facilities in the United States with a gross production capacity of 348,000 metric tons/year of clean hydrogen and the cost of production will be the lowest in the country. The Great Plains Hydrogen Hub will be a regional hub, producing, delivering, and storing clean hydrogen for transportation, agriculture and other decarbonization needs in the upper Midwest. By using state-of-the-art auto thermal reforming, carbon capture and sequestration, the hydrogen will be 96% carbon-free. This transition to clean hydrogen production will cut carbon emissions by an estimated six million metric tons per year, or the equivalent of the carbon emitted from one million cars. The capital cost of the project is estimated to be $2 billion.
"Our Great Plains Hydrogen Hub achieves the objectives of the Department of Energy's Hydrogen Shot - large scale clean hydrogen production at $1/kg by 2030 - and it does so years ahead of time," said Mike Hopkins, CEO of Bakken Energy. "The redevelopment gives us an unbeatable cost advantage which will enable the build out of infrastructure that will benefit additional hydrogen production, including hydrogen from renewables, on our way to becoming the largest and lowest cost producer of clean hydrogen in the country."
"The energy transition requires unprecedented collaboration. Partnering with the MHA Nation will enable us to build out the hydrogen infrastructure in the Midwest cost effectively and help accelerate the energy transition. The North Dakota hydrogen hub is critical to achieving net-zero." said Bill Newsom, President and CEO of Mitsubishi Power Americas, Inc. "Together with our partners, we are creating a Change in Power."
"The State of North Dakota looks forward to being the home of the Great Plains Hydrogen Hub, which will be a key contributor to achieving our goal of carbon neutrality by 2030 and a key player in the emerging hydrogen economy," said North Dakota Gov. Doug Burgum. "This partnership between MHA Nation and Bakken Energy will add value to North Dakota's abundant natural gas resources while also advancing our shared goal of reducing flaring. We support hydrogen development as part of our all-of-the-above energy approach and efforts to create jobs, diversify our economy and bolster U.S. energy security."
-###-
About Mandan, Hidatsa, and Arikara Nation
The Mandan, Hidatsa and Arikara.
About Bakken Energy, LLC
Bakken Energy, LLC, is a clean hydrogen infrastructure development company that intends to be the largest and lowest cost producer of clean hydrogen in the country, starting with the creation of the Great Plains Hydrogen Hub. Bakken Energy was formed from the Family Office of Founder and Chairman Steven Lebow. Previously Lebow founded and co-led Donaldson, Lufkin & Jenrette'sand follow us on LinkedIn.
About Mitsubishi Power Americas, Inc.
Mitsubishi Power Americas, Inc.and follow us on LinkedIn.
Attachment
- Mitsubishi Power (https://ml.globenewswire.com/Resource/Download/e56cd97c-7910-4789-8eb9-ab1b28e02602)
