Hy2gen secures €47 million to pipeline its projects
German renewable fuels producer Hy2Gen has secured €47 million ($53.5 million) from existing shareholders to accelerate its portfolio of projects in renewable hydrogen and derivates production.
IMAGE: Birdseye view of Hy2gen's renewable hydrogen plant in Germany. Hy2gen
Hy2gen said that the capital will be use in projects across Europe, Canada and Latin America.
It is understood that the renewable hydrogen producer is designing building, and operating green hydrogen, green ammonia, e-methane and e-methanol production plants to support clients in decarbonizing energy-intensive sectors such as shipping.
“Hy2gen’s most advanced projects would represent a total installed electrolysis capacity of c. 2 GW and a funding of more than €5 billion to start the construction phase by 2027,” it said.
The funding round was led by France-based low-carbon hydrogen asset manager Hy24, investing through its Clean Hydrogen Infrastructure Fund, along with compatriot engineering firm Technip Energies and individual founding investor BenDa.
It is expected to boost the company’s portfolio of e-fuels and green ammonia projects to reach Final Investment Decision (FID) and enter the construction phase, the company said.
Hy2gen’s portfolio includes a 300 MW renewable ammonia and ammonium nitrate plant in Canada, which is currently finalizing its design, with construction expected to begin by 2027, and another renewable hydrogen plant in Germany, which began producing renewable hydrogen in 2023.
It also operated the Iverson project in Norway, aiming to produce 200,000 mt of renewable ammonia annually using renewable hydropower.
By Aparupa Mazumder
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