Europe
Pioneering decarbonization of hard-to-abate sectors in Europe using green hydrogen
Everfuel is making green hydrogen for industry and heavy-duty mobility, developing and operating large-scale hydrogen production projects to offer competitive hydrogen supply and fueling solutions. The Everfuel Hy24 JV combines Everfuel’s position as pioneer and leading green hydrogen producer in Europe and Hy24’s extensive industrial experience and financial strength.
Everfuel
Type of investment
Country: Denmark, Nordics
Fund: Hy24, Clean H2 Infra Fund. Creation of the Everfuel (51%) Hy24 (49%) JV with 200 million euros in equity.
Date: February 2023
Sector: Greenfield / Upstream - green hydrogen production
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The JV’s first investment was to acquire the HySynergy Phase 1 20 MW green hydrogen production plant in Fredericia, Denmark. The JV will further benefit from Everfuel’s pipeline of hydrogen production projects as they are matured to final investment decision (FID) and transferred to the JV subject to predefined criteria.
The HySynergy Phase 1 electrolyser is expected to commence commercial operations in the second half of 2024 and will contribute to significant decarbonization of industrial processes at the adjacent Crossbridge Energy Refinery. HySynergy will also offer a competitive supply of green hydrogen as zero-emission fuel for heavy-duty mobility. In December 2022, HySynergy Phase 2, 300 MW, green hydrogen plant was granted IPCEI funding of EUR 33.1 million to support the construction of the first of three 100 MW electrolyser stacks. Further expansion plans include the development of additional green hydrogen production capacities in Denmark to supply industrial demand in Germany, through the EU Hydrogen Backbone.
Commercializing green hydrogen for industry and heavy-duty mobility
Everfuel is leading the flagship project, HySynergy, in establishing a 20 MW PtX facility
The project will significantly support renewable fuels and CO2 emission reduction for Crossbridge Energy’s refinery next to HySynergy. The Power-to-X (PtX) facility will further offer a competitive supply of green hydrogen as zero-emission fuel for mobility and industrial partners. As a PtX facility, HySynergy will demonstrate how fluctuating renewable energy sources can be converted and stored effectively to decouple energy production from consumption. The site also has expansion capacity up to > 300 MW, that can supply additional decarbonization efforts from the Fredericia refinery, but also to contemplate exports to Germany.
Building one of Europe’s largest green hydrogen production facilities
“The JV between Everfuel and Hy24 is a major step towards making green hydrogen commercially available through an accelerated deployment of our hydrogen production projects HySynergy and Sif located in Denmark. Hy24 is a leading global hydrogen infrastructure investor and the ideal partner and co-investor for us as the number one developer of electrolyzer capacity in Europe. Together we are developing green hydrogen infrastructure needed to serve rapidly growing demand from industry and mobility."
Key figures
€200M
Everfuel Hy24 joint venture
2024
Commencing commercial operation of the HySynergy 20 MW plant