Thank you for inviting me to share our vision of clean fuels and the role we hope to have in that marketplace.
I will start with some background on our company, Hy2gen and its Quebec-based subsidiary. We want to develop companies that produce green hydrogen from renewable power and to expand the use of green hydrogen globally through massive deployment. However, the logistics solutions to transport green hydrogen on a massive scale are not sufficiently advanced, making it extremely costly. Our goal is to produce biofuels using green hydrogen, so green fuels, and leverage existing logistical infrastructure to deploy green hydrogen production on a massive scale globally.
Today, I want to draw your attention to another biofuel, one on the fringes of conventional biofuels such as renewable natural gas, biomethanol and ethanol. I am talking about green ammonia. As one of the main products in the manufacture of fertilizers, ammonia is often associated with agriculture. It is important to note that green ammonia is also a very efficient fuel, allowing an aircraft to exceed Mach 6 for the first time in the 1950s. Green ammonia is produced by combining nitrogen from the air with hydrogen. To date, it has conventionally been made from hydrogen derived from fossil fuels, mainly natural gas. We want to use renewable energy to not only capture nitrogen from the air, but also produce green hydrogen via water electrolysis and combine the two gases to produce green ammonia.
As a fuel, green ammonia holds tremendous appeal for sectors that are very energy-intensive, beginning with marine transportation. One of our shareholders is Trafigura, a top commodity trading company. It is actively engaging international marine authorities to promote green solutions and encourage the world's marine operators to adopt clean fuels, through the implementation of bonus-malus systems, based on the avoidance of CO2 emissions, or taxes on CO2 emissions. The idea is to promote clean fuels like ammonia, which holds tremendous potential for the marine transportation sector.
That opens the door to producing large quantities of ammonia in places where renewable energy is readily available and economically attractive, thereby justifying the creation of green hydrogen production facilities. What's more, it is extremely cost-effective, since establishing very large plants on a massive scale has the benefit of a scale effect. The green hydrogen produced provides a widespread-use alternative to conventional fuels and synthetic renewable fuels, which will have paved the way for this transition.
It is essential that regulatory decision-making related to clean fuels take into account green ammonia, which can replace the widespread use of conventional fuels. I mentioned marine transportation, and now I will turn to uses in Canada and Quebec, where we have our first facility, which uses approximately 250 megawatts of electrolysis power to produce green ammonia. Little by little, we are transforming fuel uses to ensure that, in the next 15 to 20 years, the use of green hydrogen will benefit from the amortization of units that have been set up now to support carbon-free transportation across the board, whether by sea, land or air. Aviation fuel is another possibility. Hydrogen-powered aircraft are already being developed.
I felt it was important to share this vision with you today.