Supporting the Energy Transition through Green Hydrogen

SCOR is strongly committed to advancing energy growth and transition, integrating Environmental, Social, and Governance (ESG) principles into its underwriting and investment activities. As a longstanding participant of the United Nations Global Compact and a founding signatory of the Principles for Sustainable Insurance, SCOR actively backs innovative low carbon projects, such as the new Hidrogenii liquefied hydrogen plant in St Gabriel, Louisiana. This project, which produces domestically sourced green hydrogen for mobility, power, and industrial applications, reflects SCOR’s broader strategy to support emerging clean energy technologies and help drive a more sustainable future.
 

The green hydrogen economy and the energy transition

The USA currently produces around 10 million metric tons of hydrogen each year, primarily used in petroleum refining and ammonia production. For the most part, this is “gray” hydrogen, which is produced from fossil fuels (mostly natural gas) and has a significant carbon footprint. However, another type of hydrogen – “green” hydrogen – can be used across multiple sectors to enable zero or near-zero emissions: in other chemical and industrial processes, in integrated renewable energy systems, and in transportation. Emerging green hydrogen markets within these sectors include data centers, ports, steel manufacturing, and medium- and heavy-duty trucks. The long-term aim of this green hydrogen economy is to reduce emissions where cheaper and more energy-efficient clean solutions are not available.  

Hidrogenii’s contribution to the green hydrogen economy

The Hidrogenii plant in St Gabriel, Louisiana, started commercial operations in April 2025. It is a 50/50 joint venture between chemical manufacturing company Olin Corporation – North America’s largest producer of electrolytic hydrogen – and Plug Power, a global leader in comprehensive hydrogen solutions for the hydrogen economy. 

The Hidrogenii plant focuses on producing and delivering reliable, domestically sourced green hydrogen to serve growing demand across mobility, power, and industrial markets . One of the largest electrolytic hydrogen liquefaction facilities in North America, it can produce up to 15 metric tons of hydrogen per day. Hidrogenii captures hydrogen generated as a by-product from the neighboring Olin Chlor Alkali plant. The captured hydrogen (which was previously used as a boiler fuel), is then purified, liquified, and transported by truck to end-use customers. These include many well-known US retailers and distributors, who use the liquid hydrogen in fuel cells to power thousands of forklifts and lift trucks, thereby increasing efficiency and reducing emissions.    

SCOR's Broader Commitment to Renewable Energy

Our support for the Hidrogenii plant is a part of SCOR's broader strategy to foster a sustainable and resilient future. Through our New Energy Practice, launched in 2023, we support the ongoing energy growth and transition needs of our clients, offering comprehensive insurance solutions for a wide range of low-carbon technologies such as wind farms, solar farms, carbon capture, and biofuels.

Partners 

We are grateful for the expertise and commitment of the brokers from Marsh on this transaction.  

Looking Ahead

As we continue to support projects like the Hidrogenii liquified hydrogen plant, SCOR remains committed to accelerating the energy transition. By providing end-to-end coverage and leveraging our global expertise, we ensure that our clients are protected at every stage of their energy transition journey. Together, we can build a more sustainable future.