ENGI Engie

By Ed Frankl

Schneider Electric SE and Engie SA's natural-gas storage subsidiary Storengy said Friday that they have agreed to partner in developing underground green-hydrogen storage.

The French electrical company said it will provide expertise in automation solutions, process instrumentation, gas analysis and energy distribution to Storengy, the companies said in a statement.

The partnership will start with a 13 million-euro ($14.7 million) large-scale green-hydrogen storage project in salt caverns, known as HyPSTER, at Etrez in eastern France, the companies said.

No financial details of the partnership were provided.

Green hydrogen is produced using renewable sources, rather than fossil fuels, and seen as crucial in cutting emissions from highly polluting industries.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

January 21, 2022 05:42 ET (10:42 GMT)

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