Our Community: Earth Day Edition with InterContinental Energy
In celebration of Earth Day 2022 and this year’s theme of “Invest In Our Planet”, we’re catching up with our clients from InterContinental Energy (ICE) on the company’s work with green fuels and the importance of the mission to reduce the emission of greenhouse gases.
As the leading dedicated green fuel developer, InterContinental Energy (ICE) is committed to driving the renewable energy revolution beyond green electricity to green fuels. Using only wind, sun, and water, ICE produces clean fuels at a scale that is cost competitive with fossil fuels, significantly reducing global greenhouse gas emissions.
What are green fuels?
InterContinental Energy produces green hydrogen from the wind, sun and water. It is more environmentally friendly than the widely-used fossil fuels that power most of the world. It is considered as the most environmentally friendly fuel. Green hydrogen is clean, sustainable fuel and is a future energy carrier. It also has the ability to substitute the present energy infrastructure which is based on fossil fuel. Green hydrogen can be used instead of fossil fuels to power almost anything: to run cars, boats, and trains, to generate electricity, and as a heat source for heavy industries such as steelmaking. It can also be converted into fertilisers, pharmaceuticals, chemicals, and other products utilised in everyday life. Hydrogen does not occur naturally on its own, it has historically been sourced from fossil fuels. The world is covered in hydrogen in the form of water (H2O), which is two parts hydrogen and one part oxygen. With the best wind and solar power sites, we can economically extract hydrogen from seawater using renewable energy without pollution or emissions: green hydrogen.
Using green hydrogen as a base, we can develop sustainable new supply chains for clean fuels and products. Hydrogen is difficult to transport, but is readily converted into green ammonia, which is easier to ship and useful in its own rights. If required, green ammonia can be separated back into nitrogen and hydrogen, to be used at the intended location.
Why is it important to reduce greenhouse gas emissions?
Reducing the emission of greenhouse gases impacts our global environment in multiple ways, including:
Air Quality: As temperatures rise and emissions increase both in volume and density, the air quality worsens. With the degradation of air quality comes decreased accessibility of outdoor spaces, consequential damage to clean land and water, and we will be facing unprecedented challenges in trying to continue with personal and professional routines that have become our norm. With greenhouse gas emission reduction, air quality will improve and result in an across-the-board increase in the health of our entire planet – from our bodies of water to our own internal bodily systems.
Economic Growth: In conjunction with the improvement of public health, the global economy will also benefit from a cleaner environment through a reduction in GHG emissions. Clean, green energy is more appealing from a long-term economic standpoint. Corporations will see significant ROI into clean energy, and related benefits from a consumer base who are becoming increasingly environmentally conscious.
Slowed Climate Change: Finally, and arguably the most impactful aspect of greenhouse gas emission reduction is the overall slowed climate change and environmentally beneficial practices that will be implemented. Climate change is the central cause of increased droughts, sea-level rise, drastic weather events, such as forest fires, and all the subsequent devastating effects of these events on humanity and our development in every sense. Reducing GHG emissions is the number one key to working towards a cleaner, greener, safer, and healthier society around the globe.
Can you tell us more about the companies you work with?
InterContinental Energy develops green hydrogen and green ammonia projects at scale around the world. InterContinental Energy works with both local and international partners and companies to develop our green hydrogen projects. Such partners include sovereign wealth funds, financial institutions, energy companies, renewal developers, technology suppliers and the indigenous communities of our project locations. Partnership is key to the success of both InterContinental Energy, our green hydrogen projects and tackling climate change as a whole.
Any interesting projects or initiatives coming up in Singapore you would like to highlight?
As announced on 26 January 2022, Singapore’s sovereign wealth fund GIC became a strategic investor in InterContinental Energy. GIC is supportive of ICE’s global hydrogen vision, one that aligns with GICs continuing steps in supporting green innovation and the broader energy transition.
What challenges or benefits have you seen from operating in Singapore?
As a small country, there are inherent limitations to what we can do to reduce emissions. Our small size, urban density, low wind speeds, relatively flat land, and lack of geothermal resources are the challenges we face in pursuing alternative energy options. However, Singapore is leading the way at looking into how green hydrogen and green ammonia can be used as a clean import field into Singapore, for both Singapore requirements and that of a broader shipping economy.
Tell us about your experience working with Accela Group.
It was with great pleasure to have Accela to assist us on corporate secretarial services and payroll management. We have had the pleasure to work with the Accela team, who demonstrate a professional ethos with an extensive knowledge of their subject. The team has been helpful and has a willingness to explore and find solutions to problems.
