Hydrogen - McDermott Will & Emery

Hydrogen

Overview


Hydrogen, one of Earth’s most abundant naturally occurring elements, has increasingly demonstrated its promise and profitability in the renewable energy space. However, creating a clean hydrogen market—with the potential to displace or supplement the use of greenhouse gas-emitting fossil fuels—will require a global-scale increase in the development of clean hydrogen production facilities and related supply, offtake, transportation, storage and financing markets. With that comes a series of practical, commercial and legal obstacles.

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Results


UNITED STATES

  • Assisted a US-based hydrogen producer with its eligibility to claim the Section 45V clean hydrogen production tax credit (PTC)
  • Assisted BayoTech in negotiating and executing agreements to purchase up to 50 Class 8 hydrogen fuel cell electric vehicles from Nikola Corporation for zero-emission hydrogen transport and for BayoTech to supply Nikola with low-carbon hydrogen from its hydrogen hubs in Missouri and California and up to 10 BayoTech HyFill™ transports for bulk hydrogen delivery to customer refueling stations
  • Assisted Franklin Park with a purchase of investment tax credits associated with fuel cell facilities in California and Connecticut by one of its clients together with a commitment to purchase 10 years of PTCs related to hydrogen produced by the fuel cells
  • Represented Nel Hydrogen, a US subsidiary of Norwegian company Nel ASA, in its joint development agreement with General Motors to help accelerate the industrialization of Nel’s proton exchange membrane electrolyzer platform and collectively enable the production of more cost competitive renewable hydrogen sources
  • Assisted a private equity investment manager with their $100 million preferred equity investment in a new platform to develop and construct several co-located renewable energy and green chemicals projects, including solar, hydrogen and the production of e-methanol, across North America

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People


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