VPN Technologies (VPN) has announced the formation of Greentech Hydrogen Innovations.
Greentech Hydrogen will identify opportunities to commercialize and develop hydrogen-related products and services in accordance with global energy policy objectives and targets.
Recent research suggests hydrogen could ultimately account for one-third of global energy demand, with some calling for a potential $10 trillion market.
VPN Technologies President & CEO Paul Dickson commented,
"Greentech Hydrogen will be used as the operating company to access grants currently being offered, hold specific assets or potential future acquisitions and commercialize potential discoveries and patents."
Despite the growth of electric energy throughout the energy sector, roughly one-third of global energy emissions come from sectors for which there are no economic alternatives to fossil fuels, according to the International Renewable Energy Agency (IRENA).
These emissions originate primarily from energy-intensive industrial sectors and freight transport.
Greentech Hydrogen will work with industry clients to develop strategic development plans for the advancement of hydrogen science and technologies.
VPN Technologies provides online privacy and anonymity for users by creating a private network from a public internet connection.
VPN Technologies Inc. (VPN) is up 2.50 per cent and is trading at $0.205 per share as of 10:51 am ET.