The scientific paper detailing the two-step electrolysis process, on which the company's technology is based, reports an average 98.7% Faradic efficiency–not to be confused with energy conversion efficiency: the electrical energy consumption is 39.9 kWh per kilogram hydrogen, with an additional heat loss of 1.9 kWh per kg hydrogen, not including heat loss to the environment.[5] Out of approximately 33.3 kWh of usable energy per kg hydrogen,[6][7] this gives the two-step electrolysis process a theoretical maximum energy efficiency of approximately 79.6 percent for storing electrical energy in hydrogen. The energy then needs to be converted back to electricity, which in practice, using fuel cells, results in further energy losses.
^Dotan, H., Landman, A., Sheehan, S.W. et al. Decoupled hydrogen and oxygen evolution by a two-step electrochemical–chemical cycle for efficient overall water splitting. Nat Energy 4, 786–795 (2019). https://doi.org/10.1038/s41560-019-0462-7
^S.Sadaghiani, Mirhadi (2 March 2017). "Introducing and energy analysis of a novel cryogenic hydrogen liquefaction process configuration". International Journal of Hydrogen Energy. 42 (9): 6033. Bibcode:2017IJHE...42.6033S. doi:10.1016/j.ijhydene.2017.01.136.
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