“We realize that large-scale energy storage is needed to support the smooth functioning of our future energy system, and we see thermal storage technologies as a key part of our energy storage capabilities going ahead. Through this agreement, we plan to pioneer the use of thermal energy storage in Vietnam through the promising technology of Hyme Energy” says The Chairman of PECC2, Mr. Nguyen Chon Hung.

“We’re honored and proud to collaborate with PECC2, a driving force in the Vietnamese quest for carbon neutrality in 2050 and a critical and experienced player in the thermal energy sector in Vietnam. We see this cooperation to explore and develop project opportunities together as a demonstration that Hyme’s technology can be readily deployed across the globe” says the CEO of Hyme Energy, Ask Emil Løvschall-Jensen.

The partnership agreement was signed today as part of the celebration of the 50th anniversary of diplomatic relations between Vietnam and Denmark in the company of ministers from both countries and the Crown Prince and Crown Princess of Denmark.

The agreement includes a target to develop at least 2 GWh of storage by 2030 and at least 6 GWh by 2035. These storage plants will be expectedly combined heat-and-power plants based on sustainable energy but may also be plants designed purely for provision of industrial heat. The deployment of large-scale storage will help to integrate sustainable energy production and stabilize the Vietnamese electrical grid in the future.

The Parties will also collaborate on several other counts e.g. to develop a Vietnamese supply chain.

About Hyme Energy’s storage product and technology

Hyme storage plants are erected on-site and delivered to the customer by Hyme and partners as a turn-key product ready to produce combined heat and power or industrial heat, as needed.

Hyme’s storage plants will store from 200 MWhs up to 10 GWh or more with very little footprint. This storage capacity will enable 4-24 hours of full load operation.

Hyme’s storage plants are based on proprietary corrosion control technology and will be the first in the world to deploy molten hydroxide salts, a game-changer for molten salt energy storage.