Global reinsurer SCOR said its support for the Hidrogenii facility in San Gabriel, Louisiana, reflects its broader strategy to promote a sustainable, resilient future, while remaining “strongly committed” to advancing the energy transition and integrating ESG principles into its underwriting and investments.
The Hidrogenii plant, which started commercial operations in April last year, is a 50/50 joint venture between chemical manufacturing company Olin Corporation and Plug Power.
“The Hidrogenii plant is focused on producing and delivering reliable domestic green hydrogen to meet growing demand in transportation, power and industrial markets. It is one of the largest electrolytic hydrogen liquefaction facilities in North America and can produce up to 15 tons of hydrogen per day,” SCOR explained.
The French company said it remains firmly committed to driving energy growth and transition, adding that the project to produce domestic green hydrogen for transport, power and industrial uses underlines its wider strategy to support emerging clean energy technologies and drive a more sustainable future.
SCOR continued: “Our support for the Hidrogenii plant is part of SCOR’s wider strategy to promote a sustainable and resilient future.
“With the launch of our new energy practice in 2023, we support our clients’ continued energy growth and transition needs, providing comprehensive insurance solutions for a range of low-carbon technologies including wind farms, solar farms, carbon capture and biofuels.
“We are grateful to Marsh Brokers for their expertise and commitment in this transaction. While we continue to support projects such as the Hidrogenii liquefied hydrogen plant, SCOR remains committed to accelerating the energy transition.
“By providing end-to-end coverage and leveraging our global expertise, we ensure our customers are protected at every stage of their energy transition journey. Together we can build a more sustainable future.”