“There is a huge demand and need for green solutions to meet the climate objectives,” says Gie Verbunt, CEO of IZEN. “Balancing smart, renewable energy with powerful storage and sophisticated consumption is the obvious ambition. We are joining forces with Solenco to lay the foundations of Europe’s future energy supply.”
“The combination of hydrogen storage and solar panels ensures that renewable and CO2-free energy is available all year long,” says Hugo Vandenborre, CEO of Solenco. “Together with IZEN, we are initially starting pilot projects in the Benelux. The focus is on residential clusters and the many targeted questions from project developers and corporate buildings.”
The PowerboxTM: Heat and electricity
Solenco’s PowerboxTM produces hydrogen locally with power from solar panels and stores it. Via a reversible fuel cell, the PowerboxTM generates heat and electrical energy from the stored hydrogen whenever there is a demand.
IZEN commercialises the energy solutions of Solenco in the Benelux and becomes a one stop shop for total solutions for its customers. From private to large companies. Solenco focuses on the production of the system and the development of its technology.
The cooperation between IZEN and Solenco will in a first phase be supported by a convertible loan of VINCI Energies in Belgium to Solenco. The loan is convertible on a three year term and is linked to a call option on 100% of the Solenco shares.
“After the acquisition of IZEN a few years ago, we definitely want to continue to grow in our ‘Renewable Energies’ division. This cooperation is an example of that“, says Marc Lemaire, Managing Director of VINCI Energies Belgium.