New green hydrogen and PtX solutions company Rely formally established
Technip Energies, an engineering and technology company, and John Cockerill, a designer and manufacturer of large-scale technological solutions, have finalized the creation of Rely, a new company dedicated to integrated green hydrogen and Power-to-X (PtX) solutions.
Headquartered in Brussels, Belgium, Rely is an asset-light joint venture, 60%-owned by Technip Energies and 40%-owned by John Cockerill.
According to Technip Energies, Rely offers end-to-end large-scale solutions, from pre-final investment decision (pre-FID) services including technical and financial advisory through to proprietary technologies, project execution and operation and maintenance.
Rely also fuses a commitment to a standardized approach, developing a portfolio of solutions for projects of 100 MW capacity and above, leveraging the technology and engineering expertise of its parent companies, Technip Energies said, noting that with a unique offering integrating all electrolyzer solutions, Rely will bridge green electrons to molecules and help customers reach their decarbonization goals.
Technip Energies further said that the creation of Rely responds to the urgent need to scale up green hydrogen and Power-to-X (PtX) solutions to decarbonize hard-to-abate industries.
Arnaud Pieton, CEO of Technip Energies, stated: “Rely was born out of our commitment to make green hydrogen and Power-to-X a feasible low-carbon alternative for industrial-scale applications. We created Rely after carefully listening to our customers’ needs and forming strong convictions about the way to break the industrial and cost barriers associated with large-scale green hydrogen.”
“Partnering with John Cockerill will help us bring green hydrogen Power-to-X to life. Moreover, we’re determined to develop a portfolio of technologies that will drive down costs over the long haul. This is just the beginning of the story.”
François Michel, CEO of John Cockerill, said that to John Cockerill, Rely constitutes a new way of approaching the green hydrogen market, perfectly completing the alkaline electrolyzer offering of John Cockerill Hydrogen, adding that Rely will also enable John Cockerill to further develop all the technologies included in a green hydrogen production facility.
Damien Eyriès, CEO of Rely, noted: “Rely exists to bridge the green electron—molecule gap. We are dedicated to building solutions making green hydrogen and Power-to-X production at scale, accessible, certain, safe and affordable. Specifically, we are targeting an important reduction in the levelized cost of hydrogen (LCOH). Rely enters the market at the right moment and we are looking forward to presenting our integrated solutions in detail soon.”
To remind, Technip Energies and John Cockerill first announced the establishment of Rely in May 2023.