Hydrogen is a sustainable raw material that can be produced. We are working with our associated company to make this production cost-efficient and safe accessible to every consumer through the appropriate technology. Thus, every consumer would be able to generate the energy he needs for his electricity consumption himself, efficiently and sustainably. Surplus energy produced could be fed into the public power grid and made available to the masses. An important step in the decentralization of sustainable energy production.
By developing this technology, our portfolio company aims to make electricity as a consumer good available to the masses and is a more cost effective option than the solar panels that have been widely used. According to our portfolio company, the energy needs of a family of four can be met by this machine, which is about the size of two household washing machines. The calculation is based on the values of a high load of domestic electricity consumers, such as in times of pandemic.
When consumption is lower, a certain amount of energy can be stored as a reserve or fed into the public power grid for a fee. No retail prices have been published yet, but according to our portfolio company, the device is expected to be significantly less expensive than alternatives such as solar panels when it is launched.
Currently, GreenRock, along with the portfolio company, is talking to various government agencies in various countries in North America, Canada and Europe to negotiate a potential environmental incentive upon purchase of the device for the customer. The purchaser would thus be able to be reimbursed for a portion of the purchase amount as an "environmental bonus" or a type of government environmental subsidy.