Green h2 – Page 27 – THE HYDROGEN FUEL OF THE FUTURE

Sunfire, a leading German electrolyzer manufacturer, has successfully secured a substantial financial package, marking a pivotal moment in the company's journey and the hydrogen economy at large. The company announced a significant Series E equity financing round, raising EUR 215 million, supplemented by a strategic term loan of up to EUR 100 million from the European Investment Bank (EIB). Additionally, Sunfire has access to around EUR 200 million from previously approved, yet unutilized, grant funding, positioning it as one of the most well-funded players in the electrolyzer industry. This latest investment round welcomed several prestigious new investors, including LGT Private Banking, GIC, Ahren Innovation Capital, and Carbon Equity, with the transaction set to finalize in the second quarter of 2024, pending standard regulatory approvals. Sunfire-CEO Nils Aldag expressed enthusiasm about the influx of support, emphasizing its importance for Europe's hydrogen production leadership and the clean-tech sector. The capital injection will significantly enhance Sunfire's capacity to deliver industrial-scale electrolyzers, meeting the surging demand for electrolysis technology essential for green hydrogen production. The commitment from new and existing shareholders, such as Lightrock, Planet First Partners, Carbon Direct Capital, the Amazon Climate Pledge Fund, and Blue Earth Capital, underscores the industry's confidence in Sunfire's vision and technological prowess. Further strengthening its financial foundation, Sunfire has secured a notable credit facility from the EIB, reinforcing the company's strategy of financial diversification and signaling its capability to thrive in the venture debt market. This support from the EIB, alongside robust investor backing, empowers Sunfire to scale up production of next-generation electrolyzers, contributing to Europe's industrial future-proofing efforts. Sunfire's advanced electrolysis technologies, including pressurized alkaline and high-temperature solid oxide systems, are instrumental in the transition to renewable energy, enabling efficient and scalable green hydrogen production. The company aims to deploy several gigawatts of electrolysis capacity by 2030, targeting large-scale green hydrogen projects and cementing its leading position in the global market. Nicola Beer from the EIB and investors from Lightrock and Planet First Partners praised Sunfire's technological innovation and its pivotal role in shaping the hydrogen economy, highlighting the company's potential to decarbonize energy-intensive industries and contribute to a sustainable energy future.

Sunfire Secures Major Financing to Boost Hydrogen Economy with Over EUR 500 Million in Funding

March 9, 2024 Greenh2 team

Sunfire, a leading German electrolyzer manufacturer, has successfully secured a substantial financial package, marking a pivotal moment in the company’s journey and the hydrogen economy

Energy news Trends

Swedish Scientists Pioneer Safe and Efficient Hydrogen Production Method

March 8, 2024 Greenh2 team

Swedish researchers at the KTH Royal Institute of Technology in Stockholm have developed an innovative method for producing hydrogen energy that enhances efficiency and safety

Energy news

MITSUI E&S and MAN Energy Solutions Achieve Maritime Milestone with Hydrogen-Powered Engine Test

March 8, 2024 Greenh2 team

In a pioneering step for the maritime industry, MAN Energy Solutions’ licensee, MITSUI E&S Co. Ltd., has successfully conducted a full-load test on a 50-bore

Energy news Transportation

Universal Hydrogen Achieves Breakthrough with Megawatt-Class Fuel Cell Powertrain Test

March 7, 2024 Greenh2 team

Universal Hydrogen Co. has made a significant leap forward in aviation technology by successfully operating a megawatt-class fuel cell powertrain, powered by its innovative liquid

Chevron New Energies, a division of Chevron U.S.A. Inc., is spearheading a pioneering project to generate hydrogen in California's Central Valley with a capacity of 5 megawatts. This innovative venture aims to harness solar energy, alongside utilizing the land and non-potable water from Chevron’s Lost Hills Oil Field in Kern County, to produce hydrogen with low carbon intensity through the process of electrolysis. By splitting water into hydrogen and oxygen using electricity, the project endeavors to supply lower carbon energy solutions, contributing to a greener future. Austin Knight, Chevron New Energies' Vice President for Hydrogen, emphasized the critical role of hydrogen in achieving a more sustainable world. Chevron, already a provider of eco-friendly fuels such as sustainable aviation fuel and renewable diesel, plans to extend its portfolio through this initiative, which is poised to generate two tons of hydrogen daily. This output is expected to support the growth of hydrogen refueling infrastructure, promoting broader adoption across California. Knight highlighted the potential scalability of this green solution, acknowledging that its success and expansion to meet increasing hydrogen demand are contingent upon supportive energy policies at both state and federal levels. The multi-year development process will hinge on favorable legislation and regulations, thorough engineering designs, efficient permitting, and the availability of necessary materials. Richard Chapman, President and CEO of the Kern Economic Development Corporation, praised the project's potential to create vital technical and commercial benchmarks for Chevron New Energies as it explores options for scaling up and pursuing additional low carbon intensity hydrogen production ventures. Positioned strategically in the Central Valley, the initiative is ideally located to cater to the demands of both significant transport routes and key urban centers in California.

Energy news

Chevron Launches Solar-Powered Hydrogen Production Initiative in California

March 6, 2024March 6, 2024 Greenh2 team

Chevron New Energies, a division of Chevron U.S.A. Inc., is spearheading a pioneering project to generate hydrogen in California’s Central Valley with a capacity of

Energy news Trends

Ballard Power Systems Secures Major Fuel Cell Order for UK Renewable Power Projects

March 5, 2024 Greenh2 team

Ballard Power Systems has secured a significant order for 15 megawatts (MW) of its fuel cell systems from a UK company specializing in renewable power

Representatives from Ørsted, Liquid Wind, Lhyfe, Uniper, and the Bill Gates-founded climate fund Breakthrough Energy advocate for Sweden to initiate a new green industrial era by leveraging green hydrogen and electro-fuels. These sustainable solutions not only offer significant reductions in climate emissions but also promise new industrial investments that can create jobs and strengthen the Swedish economy.

Energy news

A Call for Action: Unleashing Sweden’s Potential in Green Hydrogen and Electro-Fuels

March 5, 2024March 5, 2024 Greenh2 team

Representatives from Ørsted, Liquid Wind, Lhyfe, Uniper, and the Bill Gates-founded climate fund Breakthrough Energy advocate for Sweden to initiate a new green industrial era

Energy news

Natural Power to Conduct Environmental Impact Studies for the Pioneering BarMar Hydrogen Pipeline

March 5, 2024 Greenh2 team

Natural Power, a prominent renewable energy consultancy and service provider, has been chosen to undertake crucial environmental impact assessments for the BarMar project, a key

he dedicated hydrogen infrastructure planned for the Hydrogen Valley in Puglia has been included by the European Commission among the IPCEI (Important Projects of Common European Interest) projects on hydrogen approved last February 15th as part of the Hy2Infra wave . This third IPCEI wave , which comes after Hy2Tech, dedicated to the development of hydrogen technologies for end users, and Hy2Use, focused on hydrogen applications in the industrial sector, considers 32 companies involved for a total of 33 projects in Europe. The framework was designed and notified jointly by seven Member States: France, Germany, Italy, the Netherlands, Poland, Portugal and Slovakia. Under this programme, Member States will provide up to 6.9 billion euros in public funding, which should in turn stimulate private investments of a further 5.4 billion dedicated to innovative projects in strategic sectors for European industry. The infrastructure designed by Snam is part of the broader framework of the development of the hydrogen supply chain which involves other primary industrial operators active in Puglia. The Snam project, whose operational phase is expected in 2028, involves overall investments of approximately 100 million euros, dedicated to the repurposing of existing pipelines (85 km) and the installation of new pipes, for a total length of approximately 110 km . As a whole, IPCEI Hy2Infra will support at European level the deployment of electrolysers for 3.2 GW, the construction and reconversion of pipelines for the transport and distribution of hydrogen for approximately 2,700 km, the development of hydrogen storage plants hydrogen for at least 370 GWh and the construction of handling terminals and related port infrastructure for liquid organic hydrogen carriers to handle 6,000 tonnes of hydrogen per year.

Energy news

Puglia’s Hydrogen Valley: A Keystone in Europe’s Green Energy Transition

March 3, 2024March 3, 2024 Greenh2 team

The European Commission has recognized the Hydrogen Valley in Puglia as a key component in the advancement of green energy infrastructure, incorporating it into the

Siemens Energy and HH2E are embarking on an innovative partnership to advance green hydrogen production across Germany, focusing on the delivery of essential high-voltage systems and power transformers. This collaboration is set to redefine the future of green energy, leveraging Siemens Energy's cutting-edge technology for HH2E's large-scale green hydrogen facilities. In a strategic effort to replace fossil fuels with renewable sources, green hydrogen emerges as a pivotal solution, acting both as a versatile energy carrier and a key raw material for various applications. With a specific interest in harnessing renewable energy for electricity and heat production previously reliant on gas, HH2E is at the forefront of the energy transition, aiming to utilize curtailed power for green hydrogen production. The project kicks off with the establishment of HH2E-Werk facilities in Lubmin, Mecklenburg-Western Pomerania, and Thierbach, Saxony, initially setting a 100 MW input power capacity. This setup not only promises an annual production of 7,000 tons of green hydrogen but also harbors the potential for expansion up to 1 GW, elevating the production to 70,000 tons annually, all while adhering to European Union Renewable Energy Standards. A cornerstone of HH2E’s approach includes integrating electrolyzers with high-capacity batteries, a move that aligns perfectly with Siemens Energy's technological offerings. This synergy between curtailed power utilization and Siemens Energy's expertise underscores a commitment to turning green electrons into a sustainable production force. Moreover, HH2E's vision extends to benefit local communities by integrating green heat into district heating networks, further exemplifying the comprehensive benefits of green hydrogen production. This partnership marks a departure from conventional buyer-supplier dynamics, fostering a collaborative relationship focused on long-term cooperation and shared growth. The Lubmin project, among others to follow, is celebrated for showcasing the integral role of Siemens Energy's high-voltage systems and power transformers in green hydrogen production, highlighting a mutual commitment to innovation, sustainability, and the broader green energy transition. Through this collaboration, Siemens Energy and HH2E are not only contributing to the decarbonization of the energy sector but also setting industry standards for modular, scalable green hydrogen solutions.

Energy news

Siemens Energy and HH2E Forge Path to Industrial-Scale Green Hydrogen Production

March 2, 2024 Greenh2 team

Siemens Energy and HH2E are embarking on an innovative partnership to advance green hydrogen production across Germany, focusing on the delivery of essential high-voltage systems