Fossil fuels account for more than 70 % of current energy consumption in EU countries*. While this share must eventually be reduced, an increase in renewables and nuclear energy will lead to other challenges with energy storage and load balancing. Alternative Energy Future opts for hydrogen energy as a solution and wants to be part of the 2 trillion emerging industry. With help of Helsinki Business Hub, the company is exploring the opportunities for cooperation in this field in Finland.
Alternative Energy Future is dedicated to smart solutions for a cleaner and healthier world. In addition to hydrogen energy, the company is innovating in the field of circular economy, smart packaging and waste reduction. Right now, the focus is on hydrogen energy.
“We believe that hydrogen energy will be used first in public transport and vehicles, providing an alternative for electric batteries that have limitations in cold climates. But hydrogen could also provide carbon-free energy to heating and industry. According to the estimations by Hydrogen Council, this is a growing market that could reach the volume of 2,5 trillion dollars by 2050”, says Andrey Pechurin, CEO at Alternative Energy Future.
Hydrogen – which can be produced from renewables and nuclear energy – could play a significant role in low-carbon future. It could help to counterbalance electricity as a zero-carbon energy carrier, enable more secure energy system with reduced fossil fuel dependence, and offer versatility to operate across the transport, heating, industry and electricity sectors.
“However, the development of this technology is very costly. There’s no company that could afford this alone. That’s why we are suggesting a cross-industrial design and development platform for hydrogen-powered transport, machines and equipment”, Pechurin states.
Drawn by the positive energy of Helsinki
The founders of Alternative Energy Future, Andrey Pechurin and Dmitry Balabolin have already set up one business in Finland with the support of Helsinki Business Hub and Business Finland. Thus, they are familiar with the local business environment, which they find very positive towards innovation in green technology. This made the city a natural option for pursuing the idea of an energy integration platform.
“Helsinki is home for many energy companies and manufacturers of equipment for this sector, and Finland has nuclear power plants where hydrogen energy could be integrated. Helsinki Business Hub and Business Finland have provided us with business information in this field, they have connected us with key ecosystem players, and they are helping us to approach these companies. There’s also a good infrastructure for services supporting this business”, says Pechurin.
Greater Helsinki’s business environment is positive towards innovation in green energy.
There are many initiatives in Europe linked to hydrogen. Alternative Energy Future believes that launching a new technology platform in Finland would enable the cooperation with global hydrogen energy associations and alliances, as well as increase the role of Finnish companies in the Nordic and European hydrogen energy initiatives. “This would also create new business opportunities for Finnish manufacturers of energy, electronics and software”, Pechurin sums up.
* Source: The European Environment Agency, the latest data available is for 2016.