Proteum Energy to Provide Hydrogen for Istmo Energy in Permian Basin
Pheonix-based Proteum Energy LLC has agreed to provide low cost, low carbon intensity hydrogen for customers in the Permian Basin and other markets.
The company entered a binding Memorandum of Understanding (MOU) on Dec. 17 with Istmo Energy LLC, headquartered in Fort Worth Texas, to negotiate the terms by which Proteum will provide hydrogen for production of “ultra-low sulfur diesel” and clean 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 cofounder of Istmo Energy.
Istmo Energy is a midstream and downstream greenfield export platform to connect and meet the needs of poorly served markets harnessing wealth that lies within the Delaware Basin. The company was formed by oil and gas industry professionals with decades of experience in the Mexican and U.S. energy markets, and a solid advisory board consisting of industry leaders in the energy, financial, legal and regulatory space on both sides of the U.S./Mexico border.
“Proteum Energy is extremely pleased to be working with a strong partner like Istmo Energy providing innovative low emissions fueling solutions,” said CEO Laurence B. Tree II. Specifications for the project are in the planning stages and the parties plan to commence project construction in the third quarter 2022.
Proteum is a producer of hydrogen from renewable ethanol, ethane and NGLs. With its patented and proven reformation system, the company can provide fuel cell grade clean hydrogen for heavy-duty transportation, low carbon hydrogen-rich designer fuels for power plants, and direct hydrogen pipeline production and injection at natural gas processing plants.Hydrogen, Istmo Energy, Permian Basin, Proteum Energy
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