Source: Energy & Management Powernews, February 21, 2022
Hy2gen AG has successfully raised 200 million euros. The Wiesbaden-based company plans to use the money to produce e-fuels based on green hydrogen.
In production plants for the manufacture of e-fuels, Hy2Gen sees "the potential to decarbonize entire industries and transport sectors," shares Cyril Dufau-Sansot, CEO of the company. The €200 million raised is the world's largest private capital increase in the green hydrogen sector to date, he said. Among the backers are the companies Hy24, Mirova, CDPQ and the strategic investor Technip Energies.
Hy2Gen wants to realize the projects in different regions, including Europe and Canada. Thus the project side of the enterprise lists for instance Norway: There, the Wiesbaden-based company is planning a production platform for green ammonia, consisting of a 255-MW electrolyzer to produce 208,050 tons of green ammonia annually. Local green electricity will power the electrolysis unit, according to reports. Hy2Gen is targeting the start of ammonia production for the first quarter of 2026.
In the Provence-Alpes-Cote d'Azur region of France, Hy2Gen is planning to build a 30-MW electrolysis plant together with PV developer Oxygen and PV operator Solarcentury. This will be supplied with green electricity from solar panels via a direct purchase agreement (PPA). This year, hydrogen production is to start on a small scale and be built up successively until 2024.
Hy2Gen has been on the market since 2017. The company develops, finances, builds and operates green hydrogen and hydrogen-based e-fuels production facilities worldwide. It considers itself "one of the leading players in the green hydrogen industry." Currently, Hy2Gen says it has 880 MW in planning and construction, with 12,000 MW in the development phase.
Author: Davina Spohn
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