Ontario government funds boost $4.6 million company investment in early phase manufacturing
OWEN SOUND, Ontario (May 15, 2023) – Hydrogen Optimized, a subsidiary of Key DH Technologies Inc., will receive $500,000 in provincial government funding to support the company’s first phase manufacturing rollout in Owen Sound. The funds, to be provided through the Southwestern Ontario Development Fund under Ontario’s Regional Development Program, will support an overall $4.6 million investment by Hydrogen Optimized in its RuggedCell™ water electrolyzer manufacturing operations along with the creation of five new jobs.
“We thank the Ontario government for its support as we advance our RuggedCell™ manufacturing capacity to 100 MW annually and create high-quality jobs in Owen Sound,” said Andrew T.B. Stuart, President and CEO of Hydrogen Optimized. “This investment also paves the way for future manufacturing automation and the expansion of our output to 500 MW annually to meet the growing demand for large-scale green hydrogen.”
Hydrogen Optimized’s patented RuggedCellTM electrolyzers are designed to achieve the lowest levelized cost of clean hydrogen at large scale. They convert renewable energy such as solar and wind power into green hydrogen, utilizing a high-power architecture that enables 50 MW+ single modules to serve the clean energy requirements of major industrial applications such as steelmaking, ammonia production, and e-fuels.
Bruce-Grey-Owen Sound MPP Rick Byers announced the funding today at the Hydrogen Optimized facility in Owen Sound. “Our government is building a strong Ontario and strengthening the economy by supporting key investments in communities in Bruce-Grey-Owen Sound,” Byers said. “With this investment, Hydrogen Optimized will grow local manufacturing and create more good-paying jobs for workers and families in this riding.”
Ontario is investing more than $100 million through the Regional Development Program from 2019 to 2023 to strengthen the advanced manufacturing sector and help meet regional needs. The program provides cost-shared funding to businesses, municipalities and economic development organizations to help local communities attract investment, diversify their economies, and create jobs.
About Hydrogen Optimized
Hydrogen Optimized Inc., a subsidiary of Key DH Technologies Inc. (KEY), is a private hydrogen technology company that develops and commercializes large-scale green hydrogen production systems. The company’s patented high-power RuggedCell™ water electrolysis system incorporates a design that enables green hydrogen plants up to gigawatt scale, low-cost mass manufacturing, and is free of iridium. Global technology leader ABB holds a minority interest in KEY. The two companies are leveraging their respective capabilities to strengthen the customer value proposition for the world’s largest green hydrogen projects. This involves combining complementary ABB products and services, including high-power rectifiers, with RuggedCell™ electrolyzers. The pooled capabilities enable end-to-end integration of green hydrogen projects, from power source to end-use application. For more information on Hydrogen Optimized, please visit www.hydrogenoptimized.com.
For more information:
Don Hogarth
Phone: 416-565-8920
