France’s Technip Energies teamed up with Belgium-based John Cockerill, a designer and electrolyzer manufacturer, to form a company dedicated to integrated green hydrogen and Power-to-X projects, according to a Nov. 30 news release.
Called Rely, the company is an asset light joint venture on a mission to decarbonize hard-to-abate industries.
Utilizing a standardized approach, Rely will offer end-to-end large-scale solutions ranging from pre-final investment decision services—such as technical and financial advisory—to proprietary technologies, project execution and operation and maintenance, the release stated.
Rely was formed as the energy industry works to scale green hydrogen, green ammonia and other sustainable fuels.
“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,” Technip Energies CEO Arnaud Pieton said in the release.
Rely is headquartered in Brussels, Belgium. Technip Energies holds a 60% interest in Rely, while John Cockerill holds 40%.
Recommended Reading
Baker Hughes Awarded Saudi Pipeline Technology Contract
2024-04-23 - Baker Hughes will supply centrifugal compressors for Saudi Arabia’s new pipeline system, which aims to increase gas distribution across the kingdom and reduce carbon emissions
ProPetro Reports Material Weakness in Financial Reporting Controls
2024-03-14 - ProPetro identified a material weakness in internal controls over financial reporting, the oilfield services firm said in a filing.
BP Restructures, Reduces Executive Team to 10
2024-04-18 - BP said the organizational changes will reduce duplication and reporting line complexity.
OFS Sector Loses Jobs, but Trade Org Says Growth Potential Remains
2024-05-08 - According to analysis by the Energy Workforce & Technology Council, the OFS job market may still have potential for growth despite a slight decrease in the sector in April.
Dividends Declared in the Week of May 6
2024-05-10 - Here is a selection of upstream, midstream and service and supply companies’ dividends declared in the past week.