Europe
Providing green hydrogen-based carriers at scale
Hy2gen ambitions to be one of the largest and most reliable provider of green hydrogen-based energy carriers. Based in Wiesbaden, Germany, Hy2gen develops, finances, builds and operates plants for the production of green hydrogen and hydrogen-based e-fuels worldwide. These products are used to create climate neutral and competitive fuels and industrial solutions.
Hy2gen
Type of investment
Country: Germany
Fund: Hy24, Clean H2 Infra Fund. Participation into a roundtable investment of €200M
Date: February 2022
Sector: Greenfield / Upstream – Green hydrogen and e-fuels production
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The first plants are being built in France, Norway, Canada, Germany, and the USA. Hy2gen’s goal is to become the market leader in the production of green hydrogen and green e-fuels for mobility, agriculture, and industry. Founded in 2017, the company’s first-mover advantage is underlined by a current project pipeline in planning and construction of 1.9 GW and a project pipeline of over 12 GW in development.
In February 2022, Hy24 (through the Clean Hydrogen Infrastructure Fund), Mirova, CDPQ and Technip Energies join forces to make record €200 million investment in green hydrogen pioneer Hy2gen AG. The capital is now used for the construction of +10 facilities in several geographies.
Decarbonizing maritime and ground transport, aviation, and industrial applications
Hy2gen develops-builds-owns-operates plants for the production of new energy carriers around the globe.
Each region holds its own advantages and disadvantages regarding the major elements required for a commercially viable project: land, renewable energy, feedstocks and offsite logistics to customers. Hy2gen is always looking for strong local and international partners along the entire value-added chain of our products. Today the company is developing more than 10 projects in Germany, France, Canada, Norway, Finland, and Mexico. One of the milestones recently reached for one of the projects: Hy2gen is awarded renewable electricity supply for its hydrogen and green ammonia production project courant in Baie-Comeau, Quebec. If the final investment decision is positive, Hy2gen plans to start construction of the green ammonia plant in the second half of 2026, with first green ammonia production scheduled for 2029, depending on Hydro-Québec's connection schedule. For Hy2gen, this is another decisive step forward. Since 2023, Hy2gen has been producing green hydrogen at its plant in Werlte, Germany.
Building large scale e-fuel production facilities
“As early as 2021, we were looking for the best possible combination of financial and strategic investors to build e-fuel production facilities. These have the potential to decarbonize entire industries and transport sectors. We are now very pleased to have the support of Hy24, the world’s first and largest low-carbon hydrogen investment and asset manager, bringing its network of partners, its experience and industrial knowledge. It is a great addition to our shareholder based and it marks the beginning of a fruitful collaboration.”
Key figures
10
projects in Germany, France, Canada, Norway, Finland, and Mexico
2017
year of foundation of the company
12 GW
of project portfolio in development