Basic Industry contribution to global emissions
The increasing use of renewable energies will underpin the transition to Net Zero. Direct usage of renewable power will play a large role, but the heavy lifting on decarbonisation requires expansion of the indirect use of green power in the wider economy. Power to X refers to conversion of green power to numerous downstream products including power to: fuels; heat; cooling; agricultural products; data and many more. The Power to X renewable fuels – such as green hydrogen , ammonia, methane, methanol, diesel, gasoline, and kerosene – can be deployed across all sectors such as transport, heating and industry, accelerating decarbonisation of the economy.
In January 2021, the Rocky Mountain Institute, a non-profit advocating for a transition to clean energy, created the Mission Possible Partnership to speed decarbonization across heavy industry. The Mission Possible Partnership will focus on decarbonizing the aluminium, cement, chemicals, iron and steel, aviation, shipping, and heavy road transport industries, which together account for 30% of global carbon emissions. Quinbrook believes that decarbonization of these sectors will take place primarily through a combination of electrification, greening of power supply to energy intensive industry, use and manufacturing of renewable or ‘green’ fuels (including green hydrogen), and new ‘green’ manufacturing such as green steel, green ammonia production and other speciality green chemicals.
Quinbrook is progressing a range of Power-to-X opportunities in renewables power supply to agriculture, plastic recycling, and green fuels production including green hydrogen. Quinbrook believes that the world is just at the beginning of a ‘green’ industrial revolution in the pursuit of rapid decarbonization made possible in large part by low-cost renewable electricity.
Quinbrook is proving up a pipeline of Power to X projects across green hydrogen, green data and several other promising industrial applications