Everfuel and Hy24 create JV for green hydrogen infrastructure in the Nordics

Everfuel A/S, a leading European green hydrogen energy company, and Hy24, managing the world’s largest clean hydrogen infrastructure fund, have created a 200 million euros joint venture (JV) to finance the accelerated development of electrolyser capacity across the Nordics.

Everfuel will own 51% of the JV and the Hy24 managed Clean H2 Infra Fund will own 49%. This investment will enable the joint venture to fund, build, own and operate up to 1 GW of green hydrogen projects in Denmark, Norway, Sweden and Finland. The JV’s first investment is to acquire the HySynergy Phase 1 20 MW green hydrogen production plant in Fredericia. Everfuel’s current project portfolio in Denmark includes more than 1.3 GW of electrolyser capacity.

Jacob Krogsgaard, the founder and CEO of Everfuel, said: “This is a major step towards making green hydrogen commercially available through an accelerated deployment of our hydrogen hubs. Hy24 is a leading global hydrogen infrastructure investor and the ideal partner and co-investor for us as the number one developer of electrolyser capacity in Europe. Together we can develop green hydrogen infrastructure needed to serve rapidly growing demand from industry and mobility across our core Nordic markets, and firmly move into the ramp-up phase of our long-term plan for growth and value creation.”

Pierre-Etienne Franc, co-founder and CEO of Hy24, added: “We launched Hy24 and the Clean Hydrogen Infrastructure Fund to help hydrogen leaders and entrepreneurs accelerate the scale-up of their projects, and to unlock the potential for the decarbonisation of hard-to-abate sectors. Everfuel is one of the most advanced project developers with a broad knowledge of hydrogen technologies, markets, and business models in the Nordics. It is therefore the natural partner for fast and wise developments.”

Minister for Foreign Affairs of Denmark, Lars L√łkke Rasmussen, commented: “I warmly welcome this important investment and joint venture between Everfuel and Hy24. Green hydrogen and e-fuels will play a big role in decarbonizing industries such as shipping, aviation and heavy transportation. So, this is not only good news for the production of green energy in Denmark, but also for our global efforts to reduce CO2 emissions. The investment underlines that Danish companies are frontrunners within green technologies. It also shows that Denmark remains an attractive destination for foreign green investments thanks to competitive framework conditions, supporting both Danish and European ambitious green policies and climate goals.”

Engr. Haseeb Ullah

Haseeb covers the global energy market for both conventional and modern energy resources. His expertise is on the global energy supply chain from generation to distribution and end-users. He has a Master degree in Engineering Management and a Bachelor of Science degree in Electrical Engineering.
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