The Latvian company “Naco Technologies” awarded at European Hydrogen Valleys Investment Forum, “Tech Tour” conference which for the first time was held in Latvia. Business innovation ideas were presented to investors by 30 startups from more than 15 different countries around the world.
A total of over 200 participants, 15 European hydrogen valleys were present, five panel discussions on hydrogen and smart energy solutions were held with the participation of more than 30 world-class experts, and more than 60 meetings of potential cooperation partners and investors were held.
Eight start-ups that offered solutions in the use of renewable energy resources were recognized by the international jury of investors: “Naco Technologies” (Latvia), “Stargate Hydrogen” (Estonia), “Green Independence” (Italy), “Hydrofy” (Austria), “Sakowin Green energy ” (France), “Atmen” (Germany), “STOFF2” (Germany) and “Norwegian Hydrogen” (Norway).
The nanocoatings of the Latvian company “Naco Technologies” are used in electrolyzers that produce green hydrogen from water and in hydrogen fuel cells that, in turn, produce electricity from hydrogen. The solutions are used by world-leading companies in the hydrogen industry such as “Siemens Energy”, “ThyssenKrupp”, “Nucera”, “Volkswagen”, “Toyota”, “Hyundai”.
“We are delighted to be recognized by the jury for our technology’s ability to radically reduce carbon dioxide emissions while maintaining the highest levels of quality and productivity. We are currently working with several companies on the first demo projects in which electrolyzers and fuel cells with our coatings will be used in a real environment,” says Andris Krasovickis, representative of “Naco Technologies”.
The demand for hydrogen as an energy resource will grow with the development of technology, becoming an even more attractive investment than electricity. “Hydrogen as an energy resource is attractive to investors for large-scale energy consumption, such as port infrastructures, warehouses, public transport, data servers, aviation. Hydrogen Valley in this context is this energy consuming sector plus a solar, wind park with hydrogen storage. By fulfilling the mentioned criteria, the hydrogen valley ‘becomes attractive’ in the eyes of business developers,” says Tech Tour’s Group Managing Director William Stevens.
Hydrogen valleys is an instrument to create local hydrogen usage systems in a geographic area, like a city, region, island, port, or industrial cluster. They are intended to cover a substantial part of the value chain, from green hydrogen production, storage, and transport to its end use in various sectors (industry, mobility, energy) with the goal to mitigate the climate change and develop regional economies.
“For example, municipal transport companies will choose hydrogen as an energy resource, as it may turn out to be an even better investment in the long term than baterry electric vehicles, despite the fact that hydrogen is more expensive today. In the future, the price of hydrogen will decrease and several industries, as well as end consumers, will decide in favor of green hydrogen. Thus, a stable market demand will gradually develop, which, in turn, will make it possible to scale the high production costs,” emphasizes Girts Greiskalns, Chairman of the Board of the Latvian Hydrogen Association.
The Latvian Hydrogen Forum and the “Tech Tour” investment conference in Latvia are held in cooperation with the Latvian Hydrogen Association, the Latvian Investment and Development Agency, Riga City Council and the Netherlands Embassy in Latvia.