Grannus LLC, Tucson, is raising $32.5 million to bring its portfolio of clean hydrogen and ammonia projects up to construction readiness. The company is advancing projects in California and Alaska (GM Aug. 12, p. 1). To raise the funds, the company has developed the “Grannus Token,” with the intent of sharing 75% of its net profits with token holders.
Grannus said its offtake agreements for the project planned near Stockton, Calif., are valued at $2 billion for 500 t/d of ammonia and 30 t/d of hydrogen. It said offtake agreements for a 4,000 t/d facility to be built in Alaska as part of Phase 2 are under negotiation.
Grannus said its “next generation” hydrogen and ammonia production offers significant advantages over current steam methane reformer-based designs, as it creates hydrogen that can be used as a feedstock in the production of ammonia and urea with effectively no emissions. The company said it has patents for its propriety process design in five countries (US, Canada, Mexico, Brazil, and Australia) and extensive relationships among technology providers, construction contractors, and commodity customers.