SCOTTSDALE, AZ / ACCESSWIRE / August 21, 2024 / RONN In. (OTC PINK:RONN) announced that the Company, which has officially forged a new expanded MOU with Hydrogen Energy Systems Inc. with a specific focus initially on their patented low-pressure hydrogen storage solutions, known as "Hydra-Paks expanding to mutual third-party mutual project collaboration.
The Hydra-Paks will be implemented into RONN's hydrogen hub projects to provide turn-key, low-pressure green energy storage solutions for Canadian First Nations agreements already in place. The Patents are also expected to be adapted into RONN's HFC Mid-Mile Logistic vehicles for an even more extended range.
Mr. Ford stated that the success of this pilot project could pave the way for the widespread adoption of sustainable low-pressure hydrogen technologies and fostering global commitments to environmental consciousness in both our mobile and stationary applications. We are committed to providing the best and latest technologies available to build a better life for the planet.
HES executives added that the patented low-pressure hydrogen storage opens doors to applications where low-pressure storage would provide the key to success, such as schools, residential areas, airports, ships, and transportation platforms.
In 2023, the US hydrogen energy storage market was estimated to be worth $3.17 billion and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2030. The industrial segment led the market in 2023, accounting for 40.56% of revenue. The global hydrogen energy storage market is also expected to grow from $11.4 billion in 2023 to $196.8 billion by 2028. Factors driving this growth include the demand for clean fuel, the transition to sustainable energy, and government efforts to reduce greenhouse gas emissions.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Factors that could cause or contribute to such differences include but are not limited to, the success of RONN, Inc. initiatives in the hydrogen tax credit market. RONN, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact Information
John Morgan
IR
jmorgan@ronnmotorgroup.com
SOURCE: Ronn inc
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