Victory Clean Energy to Acquire Low-Cost Green Hydrogen Technology from Proton Power

Victory Clean Energy, a leader in the green hydrogen sector, has signed a binding term sheet to acquire Proton Power's Cellulose to Hydrogen Power (CHyP Engine) system. This technology promises to produce affordable hydrogen from biomass and waste. Victory expects the new system to lower variable operating costs by 50% compared to traditional electrolysis.

The modular CHyP engine will allow Victory to scale hydrogen production close to demand, reducing the need for storage and transportation. Additionally, the technology is energy-efficient and carbon neutral, utilizing minimal electricity.

Chris Headrick, Founder and Executive Chairman of Victory, noted the importance of affordable hydrogen for tackling climate change. CEO Jim McGinley emphasized the transaction as a pivotal move for the green energy market.

Victory plans to build their first commercial facility with the Redding Rancheria Tribe in California in 2025, followed by several other plants nationwide. This move supports their goal of reducing costs and carbon emissions in various industrial sectors.