Engie: deal with Schneider Electric in green hydrogen
(CercleFinance.com) - Schneider Electric announced on Friday that it will partner with Storengy, Engie's natural gas storage subsidiary, to offer storage solutions in green hydrogen.
Through this framework agreement, Schneider and Storengy intend to pool their expertise to help customers accelerate the achievement of their net zero goals.
The partnership includes joint research and development projects to provide customers with practical, replicable solutions.
Storengy says it expects underground hydrogen storage to play an "essential" role in ensuring the resilience and flexibility of the energy system.
However, it seems to be no big deal: Engie shares are currently down 0.7%, while Schneider shares are faring worse - down double that at almost 1.5%.
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