TES hydrogen terminal in Wilhelmshaven; HydrogenOne invest £3M in Gen2

Tree Energy Solutions (TES) is expediting its plans to develop the German port of Wilhelmshaven into a world-scale hub for importing Green Gas.

The fast-tracking will provide alternative energy security for Germany and Europe whilst accelerating the growth of Green Gas imports over time.

With Green Hydrogen at its core, the Wilhelmshaven green gas terminal is sustainable, carbon-neutral, and transitional, meeting the German’s government short-term and long-term energy requirements.

TES’ Wilhelmshaven project, initiated in 2019, is set to play an even more significant role in delivering energy to Germany. The acceleration of its project will be fully consistent with and supportive of the strategic priorities of sustainability and diversification of energy supply by accommodating the handling of gas imports alongside imports of green gas in the early stages.

The Wilhelmshaven project will account for 10% of Germany’s total annual primary energy demand by 2045, equal to the annual energy consumption of 43 million households.

TES Green hydrogen will be primarily produced using solar, wind and hydropower in countries with abundant renewable energy sources, after which CO2 will be added to make green CH4 which will be used as the ‘energy carrier’. This will then be transported to Wilhelmshaven utilising a specially constructed fleet of ships.

At Wilhelmshaven, the green CH4 can be converted back into green hydrogen, with the resulting CO2 being captured and returned to the producing countries by ship in a continuous closed-loop system.

In the initial phase of 25 TWh per year of green gas import, more than half a million tonnes of hydrogen can be produced and imported in Wilhelmshaven. This will rise to 250 TWh per year and more than 5 million tonnes of hydrogen in the final stage. This corresponds to one-tenth of the total annual primary energy demand of Germany.

HydrogenOne Capital Growth invest in Gen2

HydrogenOne Capital Growth plc has signed definitive agreements for £3.3 million (NOK40m) in Gen2 Energy AS as part of a funding round expected to total at least NOK 140 million.

Subject to approval, with this purchase of a minority equity stake, HydrogenOne has the right to a board seat at Gen2 and the potential to co-invest in Gen2’s projects.

Gen2 is developing attractive projects with some of the lowest estimated Capex and Opex in Europe.

HydrogenOne invests in Gen2 alongside HyCap, while existing industrial backers include Vitol, Höegh LNG, and the Knutsen Group.

Simon Hogan, Chairman of HydrogenOne, said, “This transaction demonstrates the breadth of opportunities available to HydrogenOne as we roll out our investment strategy.”

Jonas Meyer, Gen2’s CEO, commented, “We are very pleased to welcome HydrogenOne as a shareholder in Gen2, and look forward to working with their experienced team.”