CC - Chemours TC Energy team up to develop clean hydrogen plants in West Virginia

2023-04-19 07:34:21 ET

Chemours ( NYSE: CC ) and TC Energy ( NYSE: TRP ) said Wednesday they have executed a memorandum of understanding for the potential development of two electrolysis-based hydrogen production facilities at or near Chemours manufacturing sites in West Virginia.

Under the deal terms, a non-binding offtake agreement for hydrogen produced by the project would be executed, supporting Chemours' ( CC ) facility demands; hydrogen produced in excess of the offtake agreement would be stored and available for loading and shipment to nearby merchant users.

The companies said the MoU supports their participation in the Appalachian Regional Clean Hydrogen Hub in West Virginia.

TC Energy ( TRP ) shares are attractively valued and a good pick for income-oriented investors, Leo Nelissen writes in an analysis published recently on Seeking Alpha .

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