US Startup Ally Power Partners with MPower for a USD 400 Million Hydrogen and Electric Refueling Station

April 2024

Ally Power, a US-based startup, and MPower Inc., the Philippines’ largest electric retail supplier, are collaborating on a more than  USD 400 million agreement to build a hydrogen and electric refueling station as part of the US Presidential Trade and Investment Mission to the Philippines. The station aims to produce hydrogen, electricity and sodium aluminate to support the country’s energy security and climate change goals.

The partnership also involves Ally Power working with Meralco Power Academy and the University of the Philippines to promote US renewable energy technologies. Meralco, with a long-term sustainability strategy, is investing over PHP 100 billion (USD 1.7 billion) by 2030 to enhance grid reliability, reduce system loss, implement energy efficiency solutions and expand electric vehicle fleets and infrastructure. The company is also accelerating its transition to green energy, aiming to become coal-free by 2050 and ramping up renewable energy projects through MGen Renewable Energy Inc.

(Sources: BusinessWorld; Manila Standard)

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