CostPlus eyes hydrogen fuel cell tech for Philippine market

MANILA, Philippines – CostPlus Inc., a provider of clean energy solutions, is set to tap India’s expertise to bring advanced hydrogen fuel cell technology to the Philippines.

The company said in a statement that it signed a letter of intent for the planned rollout of hydrogen fuel systems. This was during President Ferdinand Marcos’ visit to New Delhi earlier this month.

CostPlus said providing the Philippines with access to hydrogen fuel cell technology was “a critical step toward achieving energy independence and reducing the nation’s carbon footprint.”

The group, however, did not disclose its technology partner for this plan.

Hydrogen can be produced from a variety of sources. But the challenge for countries that have hyped the technology in recent years was to turn this into usable power. The technology is touted as being more climate-friendly since it does not emit carbon dioxide.

Alternative solution

According to CostPlus, the Philippines can boost its renewable energy goals with investments in advanced hydrogen fuel cell technology. It noted that areas not connected to the power grid can instead tap this cleaner alternative solution rather than just rely on diesel generators.

CostPlus has always been at the forefront of technological innovation, particularly in the field of renewable energy,” said CostPlus CEO Anand Mahtani.

“This partnership marks an exciting opportunity to accelerate the Philippines’ transition to green energy while creating local jobs …,” he added.

The government is targeting to increase renewables’ share in the electricity generation mix to 35 percent by 2030 from the current 22 percent.

The executive also said CostPlus would invest more in the local renewable energy infrastructure and technology development.

The Department of Education earlier tapped CostPlus to power more remote schools across the country. Through its clean energy solution Kidlat EV, the firm has already energized more than 27,000 homes, schools and community hubs.

Read more: https://business.inquirer.net/542071/costplus-eyes-hydrogen-fuel-cell-tech-for-philippine-market