Lane Power and Energy Solution Experiencing Major Sales Increase with Hydrogen and Carbon Capture Projects
Joins H2-CCS Network to Leverage Growth
The Team at Lane Power and Energy Solutions Inc. has been riding the ups and downs of building hard rock and salt cavern storage facilities for decades.
Like many energy-related firms last year, with the Covid-19 pandemic at its peak and a worldwide economic slowdown, Lane Power and Energy Solutions suffered through a slow period of work.
But since this past May, the Houston-based company has been on fire in terms of business, new and repeat. Considered one of the top companies worldwide for developing/operating hard rock and salt cavern storage, Lane is particularly busy as the use of hydrogen and carbon capture sequestration (CCS) in reducing energy emissions. The issue energy industry’s hot topic.
From the Lane perspective, all the talk ongoing about utilizing the “fuel of the future” is rapidly moving to action.
“Hydrogen can be produced in the U.S. – we can control the energy source – so it is a matter of energy security,” Mike Tritt Lane Power’s President and CEO, told the H2-CCS Network.
Tritt said hydrogen has been used in industrial processes for more than 100 years, but today R&D is focusing on utilizing the world’s most abundant mineral in such areas as power generation, transportation fuel and as an off-road fuel source for construction and mining vehicles.
Tritt recently was appointed to the National Petroleum Council by the Secretary of Energy, who wanted to tap his underground storage experience which includes hydrogen expertise.
“All problems with hydrogen (regardless of the application being studied) can be solved by technological advances,” according to Tritt. “There is a great deal of discussion about creating hydrogen hubs and, if they are built, they will need storage.”
And Lane Power is ready for the challenge. Ammonia storage also is being discussed, as in a liquid state, Ammonia in its liquid state is a dense Hydrogen carrier.
“We are pleased Lane became part of the H2-CCS Network,” said Tom Gellrich, Founder, H2-CCS Network. He further added, “Lane is great company for this new platform designed for companies and individuals involved with hydrogen and carbon capture sequestration.”
“It just makes sense for such a network, and to be part of said network,” Tritt told the H2-CCS Network. “People can work from the platform, do business and have discussions with other companies.”
While Hydrogen and CCS are the latest buzzwords in the energy business, Tritt said Lane’s traditional business, storage for natural gas and natural gas liquids has come on a’blazin.
Natural gas storage is of particular interest in the Southwest, where the winter’s Texas freeze brought the need to the forefront. And as long as plastics are as important to the world as they are now – and are expected to be in the future – NGLs, the building block of plastics, will need to be stored.
“Fossil fuels are not going anywhere in our lifetime and, while the usage of all renewables makes environmental sense, it must get to the point where it makes economic sense,” according to Tritt. “And that’s what we’re pushing for.”
The Lane President/CEO added that he’s pleased to see President Biden’s administration putting billions of dollars into Hydrogen R&D, with a synthetic market being created for Hydrogen and CCS based on ever-stricter regulations – not economics.