DEERFIELD -- CF Industries Holdings Inc., a manufacturer of hydrogen and nitrogen products, announced significant steps to support a global hydrogen and clean fuel economy, which is expected to grow significantly over the next decade, through the production of green and low-carbon ammonia.
"The world needs clean energy and hydrogen is a key to meeting this need. Low-carbon ammonia is the critical enabler for storage and transport of hydrogen and thus has a major role to play," said Tony Will, president and chief executive officer of Deerfield-based CF Industries.
CF Industries' board approved an initial green ammonia project at the company's flagship Donaldsonville Nitrogen Complex in Louisiana to produce approximately 20,000 tons per year of green ammonia. The cost of the initial project is expected to fit within the company's annual capital expenditure budget, which has ranged from $400-$450 million per year.
Industry experts project hydrogen will meet approximately 20% of the world's energy need by 2050, up from less than 1% today. Ammonia, which is composed of three-parts hydrogen and one-part nitrogen, is a highly efficient transport and storage mechanism for hydrogen as well as a fuel in its own right.