Drillmec Is Planning To Invest 35 Million Euros In Hydrogen

The company based in Piacenza Italy, jointly with the Indian parent company MEIL, is gearing up to produce hydrogen with zero CO2 emissions

Hyderabad, India And Piacenza, Italy /PRNewswire/ - The board of directors of Drillmec, a Piacenza-based company in the Oil & Gas sector, part of Indian infrastructure giant MEIL Group has approved the investment plan for over 35 million euros in the energy transition which includes initiatives in production of hydrogen through the most advanced technologies available such as electrolysis, pyrolysis and the design and construction of CO2 capture and storage systems and last but not least geothermal energy.

In this context, Drillmec has launched the company Idrogena, a start-up dedicated to the development and industrial production of a pyrolytic converter for the production of ultra-clean hydrogen.

The converter designed by the Idrogena team with personnel with over thirty years of experience in process engineering, through pyrolysis will produce hydrogen without the use of pollutants. A decisive step towards the energy transition that combines safety for people, protection for the environment and economic accessibility.

"We are pleased to announce this new initiative in our country which is consistent with our history, which is to innovate and develop responsible and safe technologies capable of incorporate energy, social and environmental needs." - says Simone Trevisani, CEO of Drillmec SpA.

This revolution awaited since 120 years, will allow the production of hydrogen without CO2 emissions, in fact among its strengths will be the ability to prevent the generation of carbon dioxide by producing in its place precious graphite used by large industrial sectors, such as the automotive, cosmetics and pharmaceutical ones.

With the converter, the production of hydrogen can take place at destination in a capillary manner, thus significantly reducing transport costs and working around the low energy content of hydrogen which represents a challenge in storage and transportation.

"This technology fits within the natural gas value chain, thus compensating for the lack of a hydrogen distribution network which currently represents the main hurdle to mass adoption." - comments Simone Trevisani, CEO of Drillmec SpA.

"I congratulate the team in the new initiative and wish them all very success in the fast evolving Hydrogen technologies," comments Mr Srinivas Bommareddy, Chairman of the board of directors, Drillmec SpA

The development of this technology at a competitive cost will allow it to operate at low pressure, will have contained dimensions and will be safe to use with minimal training. Powered by renewable energy, it will not make use of polluting catalysts, will not produce waste and will produce the quantity necessary for multiple uses including Industrial use and local public transport.

About Drillmec:
Drillmec is a leading OEM (original equipment manufacturer) for land-based drilling rigs. Its onshore rig portfolio comprises drilling rigs in the hook load range of 60 metric tons (66 short tons) to 907 metric tons (999 short tons), including conventional drilling rigs, either swing lift or slingshot, mobile rigs, automatic hydraulic rigs, the HH series and unconventional play rigs such as the STRIKER-800®. Drillmec land-based drilling rigs work in harsh climatic conditions and environments and capable of handling the most challenging client drilling programs.

About MEIL:
MEIL has proven experience in mega projects, has an overseas presence in prestigious refinery projects in countries like Kuwait, Jordan, Bangladesh and Singapore. MEIL is known for its timely execution of mega projects with highest quality standards, particularly related to creating infrastructure for establishing raw processing units, compressor plants; gas-based captive power plants etc. MEIL Hydrocarbons division's Engineering Technical Team is using sophisticated modern technology for fabrications, installations, and hook up operations.