Innovation

P2X Solutions' mission is to “Change the world to become cleaner – together”. The company clearly addresses the environmental and climate change issue that we face today, by setting targets to support the green transition as a response to the global crisis of global warming. For instance, they aim for a total of 1 GW of hydrogen production capacity by 2031 in their industrial-scale production plant of green hydrogen and synthetic methane located in Western Finland. This is clearly linked to SDG 7 for Sustainable Energy, by producing green hydrogen which differs from other types of hydrogen because it is produced from sustainable resources rather than fossilized resources that contribute to climate change. P2X Solutions aims to achieve this goal in 10 years' time, being a gradual step towards accelerating the green transition, and thus, also working towards combating climate change and its impact, and aligning with SDG 13 for Climate Action.

Being frontrunners in the production of green hydrogen, the company also promotes more responsible Production and Consumption patterns, solving SDG 12, by pioneering the transition towards more sustainable commodities for example, by their aim to make transportation more sustainable and help the mobility sector by planning on building and opening the first fueling station network for hydrogen-powered vehicles in Finland. However, hydrogen has other important applications. In this case, hydrogen can be used as a feedstock alongside carbon to produce e-chemicals (e.g., e-methane). These synthetic chemicals can then be used in the petrochemical industry as building blocks to replace common fossil fuel raw materials. By producing chemicals more sustainably and having more sustainable manufacturing approaches, they help reduce emissions and foster innovation and sustainable industrialization, supporting SDG 9.

Inspiration

“Our mission is to make the world cleaner – together” says P2X Solutions CEO Herkko Plit. The company’s innovative business model aims to revolutionize the energy industry and reduce emissions, by having sustainability at the core of the business. “We can create a new sustainable market for the industry and for the consumer by providing green hydrogen and its derivatives,” says Plit.

Plit states that the green hydrogen innovation of P2X Solutions was born during the Covid-19 crisis when he realized the need for hydrogen to reach the climate targets, and after noticing that there was no activity at all in this field in Finland, P2X Solutions decided to become the frontrunner and “dare to open the market and dare to be the pioneer”.

This meaningful innovation has a clear purpose, for both society and the environment, and understands the urgent shift to more sustainable production. “This will be a game changer for society,” says Plit.

Overall impact

The short-term impact of this innovation was the establishment of the groundbreaking project to build the first industrial-scale green hydrogen production plant in Finland. Once completed in 2024, this facility will produce green hydrogen using electricity generated from renewable sources. Meanwhile, the long-term objective of the innovation is to revolutionize the way we power our lives, provide a home-grown clean energy alternative, and play an essential role in addressing climate change.

P2X Solutions has previously stated in 2022 that they aim for 1000 megawatts (MW) of electrolysis capacity in 2031. With the ongoing construction of the Harjavalta plant, once the plant gets operational, its capacity is expected to reach 20 MW.

Last year, P2X Solutions hit an important milestone, as their green hydrogen and synthetic methane production plant project was added to the Important Projects of Common European Interest (IPCEI) list by the European Commission. One of the incentives of this project is constructing an additional 70 MW of green hydrogen production capacity (on top of the 20 MW capacity of the Harjavalta plant), further contributing to the expansion of the domestic hydrogen transport market.

Business benefit

It is reasonable to say that P2X Solutions’ business would not exist without this innovation. Being one of the first in an industry that domestically has only recently started to grow in significance, their innovation is playing a vital role in opening a new market.

As suggested, there is a growing interest towards hydrogen based green energy in Finland. P2X Solutions is not alone in this movement – other innovative Finnish businesses, research centers and government figures have come together to employ their hydrogen expertise and talent to spearhead a green revolution with a common goal of making Finland a world-leading hydrogen economy (Business Finland, 2021). Furthermore, P2X Solutions is collaborating with like-minded organizations on international level as part of BotH₂nia - an international initiative for building a large-scale hydrogen economy around the Gulf of Bothnia and the Baltic Sea.

Along with other innovations, P2X Solutions’ projects are creating job opportunities in the green energy sector. Simultaneously, the green hydrogen Power-to-X innovation is opening new investment opportunities as the company is targeting to expand its trade from production to distribution, building the first hydrogen fueling station in the Greater Helsinki area in Järvenpää.

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Social and environmental benefit

The innovation's societal and environmental benefits are tightly integrated with its business advantages. As an IPCEI project, it aims to generate the largest possible positive spill-over effect on the European hydrogen value chain, research, and society.

In today's energy landscape, hydrogen occupies a modest place in both the global and EU energy mixes, primarily sourced from fossil fuels like natural gas and coal, resulting in annual CO2 emissions of 70 to 100 million tons in the EU.

To unlock hydrogen's potential as a key player in achieving climate neutrality, substantial changes are necessary. The path forward requires a two-fold transformation. Firstly, hydrogen production must undergo a profound shift towards complete decarbonization, moving away from carbon-intensive processes and adopting cleaner, sustainable methods, such as P2X Solutions' green hydrogen production through renewable-powered electrolysis.

Secondly, we must explore and embrace innovative ways to employ hydrogen as a clean energy carrier, a mission championed by forward-thinking companies and initiatives like BotH₂nia. These organizations are dedicated to advancing the hydrogen economy by developing cutting-edge technologies and infrastructure that not only produce hydrogen without greenhouse gas emissions but also deliver versatile, sustainable end products.

Together with like-minded organizations, P2X Solutions is committed to a broader vision, one in which hydrogen production's end products replace fossil fuels in various sectors, including industry and transportation, thereby empowering customers to fulfill their climate and environmental goals.

Interview

Herkko Plit, CEO