MEIL to spend EUR35 mn in power change
Hyderabad: Drillmec, an Italy- based oil and also gas exploration gear manufacturer and also a component of city-based MEIL Group, on Friday stated its board of supervisors authorized financial investment strategy of 35 million euros in power change, that includes campaigns in manufacturing of hydrogen.
Simone Trevisani, CEO of Drillmec SpA, stated: “We are pleased to announce this new initiative in our country which is consistent with our history, which is to innovate and develop responsible and safe technologies capable of incorporate energy, social and environmental needs. This revolution awaited since 120 years, will allow the production of hydrogen without CO2 emissions, in fact among its strengths will be the ability to prevent the generation of carbon dioxide by producing in its place precious graphite used by large industrial sectors. This technology fits within the natural gas value chain, thus compensating for the lack of a hydrogen distribution network which currently represents the main hurdle to mass adoption.”
Srinivas Bommareddy, Chairman of the board of supervisors, Drillmec SpA, stated: “I congratulate the team in the new initiative and wish them all very success in the fast evolving Green Hydrogen technologies.”
In this context, Drillmec has actually introduced the firm Idrogena, a start-up committed to the development and also commercial manufacturing of a pyrolytic converter for the manufacturing of ultra-clean hydrogen via one of the most sophisticated innovations offered such as electrolysis, pyrolysis and also the layout and also building of Co2 capture and also storage space systems and also lastly geothermal power.
The development of this innovation at an affordable price will certainly enable it to run at reduced stress, will certainly have included measurements and also will certainly be secure to utilize with marginal training. Powered by renewable resource, it will certainly not use contaminating stimulants, will certainly not create waste and also will certainly create the amount needed for numerous usages consisting of Industrial usage and also neighborhood public transportation.