Trafigura Group Increases Stake in H2 Energy Europe AG for Green Hydrogen Projects

Zurich and Geneva, October 10, 2023: Trafigura Group Pte has announced its intention to raise its ownership in H2 Energy Europe AG. This strategic move positions Trafigura as the majority owner of the company as they gear up for ambitious green h2 production projects across Europe, in addition to expanding mid- and downstream hydrogen supply and distribution infrastructure. H2 Energy Holding AG’s founders will maintain a minority ownership stake and will continue to lend their substantial expertise and knowledge to the company.

At the same time, Trafigura will retain its support for and minority equity interest in H2 Energy Holding AG, a company dedicated to the development of green hydrogen ecosystems and technologies.

Rolf Huber, Founder of H2 Energy, expressed enthusiasm about the strategic development, stating, “This is a welcome development that strategically positions both companies for future growth and investment. As we move forward, our primary objective is to fortify our green hydrogen ecosystem, focusing on infrastructural engineering projects, the development of fuel cell applications, and the development and commercialization of key hydrogen equipment. Collaborating closely with Trafigura, we aim to leverage each other’s expertise to advance our shared goal of making green hydrogen a cornerstone of the energy system.”

Julien Rolland, Head of Strategic Projects and Investments for Trafigura, commented on the announcement, saying, “Today’s announcement allows H2 Energy Europe to focus on developing large-scale green hydrogen projects and distribution networks across Europe, while H2 Energy Holding AG will focus on its core business and technology development. Trafigura and H2 Energy Holding AG will continue to cooperate closely and benefit from each partner’s respective expertise.”

See also  Metal Foam Could Help In the Production of Low-Cost Carbon-Free Hydrogen

As part of their ambitious green hydrogen projects, plans to construct a 1 GW green hydrogen facility in Esbjerg, Denmark are making progress. In June, they commissioned COWI to conduct the front-end engineering design (FEED) for the production plant, with a final investment decision anticipated in 2024.

In South Wales, H2 Energy Europe has recently submitted a formal planning application to construct a 20 MW green hydrogen production facility within the port of Milford Haven, with local company InSite Technical Services Ltd currently conducting the FEED study. The project is in its final negotiation stage for funding under the UK government’s Hydrogen Business Model and Net Zero Hydrogen Fund: Electrolytic Allocation Round 2022, and final projects are expected to be announced later this year. Pending government support, the facility should be operational within two years, using domestic renewable energy to produce green hydrogen for various applications, including shipping, road transport, chemical feedstock, and industrial use throughout the South Wales Industrial Cluster.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *