New collaboration on floating green hydrogen vessel


Italy – RINA and 5M Renewables have signed a Memorandum of Understanding (MOU) to collaborate on the concept development of the Thessalonica HydroShip, a Floating Green Hydrogen Production Vessel.

This collaboration will help the marine and energy sectors decarbonize, and it will include a carbon credit offset program that will benefit owners, charterers, and other stakeholders. The scope of the collaboration will include vessel design as well as topside production, which will include green hydrogen production and distribution systems.

Lowering cost

The Thessalonica HydroShip converts wind or tidal stream energy into green hydrogen. It does not necessitate the use of an FPSO, lowering the overall levelized cost of energy (LCOE) and allowing for cost-competitive green hydrogen production. The configuration of ready-made wind/tidal stream turbines, off-the-shelf electrolyzers, and other proven plant equipment will be optimized to deliver cost-competitive green hydrogen at close distances to the shore.

This eliminates intercontinental delivery point transportation and logistics, lowering the long-term operating cost of hydrogen to end-user markets even further. Carbon offsets and certification standards such as EU-ETS, GS, Verra, JCM, and others will be incorporated into the Thessalonica HydroShip configurations.