Jessica Vermeer
11 November 2019

The Dutch clean energy conglomerate Koolen Industries has invested 4 million euros in Proton Ventures. This Schiedam-based company designs and builds both high-pressure and cooled storage of ammonia and small-scale ammonia factories, called NFuel units. “Proton Ventures’ unique and patented technologies make it possible to produce ammonia from clean energy sources. Ammonia is a perfect energy storage solution for solar and windmill parks because it can efficiently store and transport large amounts of energy,” says CEO Kees Koolen of Koolen Industries.

NFuel storage tank in Sillamäe, Estonia. Credit: Proton Ventures

Proton is involved in many projects in which energy is sustainably stored as ammonia. It has ammonia storage terminals in both Estonia and Bulgaria. The investment from Koolen will contribute to the accelerated rollout of several NFuel units around the world.

Gerben Hilboldt, CTO of Koolen: “Principally, liquid ammonia contains more hydrogen per liter than conventional hydrogen and on top of that, it’s easier to store and transport, making imported sustainable energy affordable.” This type of storage allows for 25 times more energy storage per volume than the best lithium batteries available today.

Koolen Industries appears to have gone on a spending spree to further its energy transition ambitions. Earlier this year, the company invested in a charging station company, battery sharing and [Hardt Hyperloop}(