80 Mile increases its stake in Hydrogen Valley to 49% and signs an agreement with Tecnoparco

80 Mile announces that it has increased its stake in Hydrogen Valley to 49% and signed a memorandum of understanding with Tecnoparco for the supply of 40,000 tonnes of biofuel per year, aiming to reduce palm oil dependency.

Share:

80 Mile PLC, an exploration and development company listed on the AIM, today announced a significant expansion of its investment in Hydrogen Valley, increasing its stake to 49%. This move follows a renegotiation of the terms of its Stage 3 option, reducing the cost of the transaction to £380,000, through the activation of a £380,000 working capital loan provided to Hydrogen Valley.

The company stated that this change in the financing structure allows for minimising shareholder dilution while strengthening its position in the renewable energy sector. Eric Sondergaard, Managing Director of 80 Mile, expressed his satisfaction with this strategic step, highlighting the importance of this increased stake in Hydrogen Valley for the company’s expansion into sustainable energy.

Greenswitch signs a memorandum of understanding for biofuel supply

In parallel, Greenswitch, a subsidiary of Hydrogen Valley, has signed a memorandum of understanding (MoU) with Tecnoparco, a multi-utility provider based in the Basilicata region. The agreement concerns the supply of 40,000 tonnes of biofuel per year to Tecnoparco, to be used in its cogeneration units. Currently, Tecnoparco imports palm oil, but this partnership is expected to reduce transport costs while enhancing its sustainability credentials by shifting to more local and responsible energy sources.

Tecnoparco, which serves industrial customers in Italy, will also benefit from a closer supply source, which should optimise the supply chain. Greenswitch considers that this agreement could be the first of several similar partnerships, as multiple Italian refineries are planning to incorporate biofuel into their production processes.

Continued growth in sustainable energy

80 Mile, already active in the exploration of critical metals, has expanded its portfolio to include assets in renewable energy, and this new alliance with Tecnoparco strengthens this strategic direction. 80 Mile also plans to increase its stake in Hydrogen Valley to 100% between December 2025 and December 2026, depending on market conditions.

Eric Sondergaard highlighted the importance of these developments for the company, mentioning that these agreements pave the way for future collaborations in the bioenergy and renewable energy sectors in Italy and beyond.

Air Liquide begins construction of the ELYgator electrolyser in Rotterdam, a 200 MW project, supported by the Dutch government and an investment exceeding €500 mn.
A pilot project in Germany aims to produce green hydrogen at sea directly from untreated seawater on offshore wind farms, using marine bacteria and robust materials.
BP withdraws from the Australian Renewable Energy Hub, a major renewable hydrogen and ammonia project in the Pilbara region, marking a new stage for energy investments in Australia.
Next Hydrogen raises CAD1.5mn from its management and a commercial lender to strengthen its cash flow and retain teams, while maintaining its review of financial and strategic solutions.
The first European citizen funding campaign dedicated to green hydrogen enabled Lhyfe to collect €2.5mn from nearly 1,200 investors, strengthening the development of new sites in France and Germany.
In the face of renewable energy intermittency, Power-to-Hydrogen-to-Power (PtP) technology could revolutionize energy storage. However, its adoption still depends on cost reduction and efficiency improvements.
South Korean company YPP and Kazakh Invest have signed a framework agreement for the development of a green hydrogen production project in Kazakhstan, with investments potentially reaching $3.1 billion.
The Dutch government has granted major funding to HyCC for its H2eron electrolysis project, aimed at producing renewable hydrogen in the Delfzijl industrial zone.
ACWA Power has signed several agreements with European partners to develop a green energy export chain between Saudi Arabia and Europe, as part of the India-Middle East-Europe Economic Corridor project.
Manufacturer Stellantis halts production of its hydrogen-powered commercial vehicles, citing a lack of commercial prospects and an insufficient market, according to a statement released by the automotive group.
Malaysia reaches a decisive milestone in its energy roadmap with the launch of a hybrid floating hydro-solar project and the first large-scale green hydrogen hub in the state of Terengganu.
Hynamics UK and Hy24 have signed an exclusive agreement to develop the Fawley Green Hydrogen project, backed by the UK HAR2 scheme, to supply green hydrogen to ExxonMobil's petrochemical complex.
China has approved the construction of a strategic pipeline to transport green hydrogen from Inner Mongolia to Beijing, facilitating supply to industrial zones around the capital and boosting a rapidly expanding energy economy.
The European Commission introduces a greenhouse gas emissions methodology for low-carbon hydrogen, establishing a long-awaited regulatory framework for the sector and paving the way for new industrial investments.
French company Lhyfe has carried out its first successful green hydrogen combustion tests in Spain, delivering three tonnes over three weeks to the Valencian ceramic industry, opening a new potential alternative to industrial fossil natural gas.
Envision announces the official commissioning of the world's largest green hydrogen and ammonia plant in China, powered by an autonomous renewable energy system and entirely AI-driven, with exports planned from late 2025.
Sumitomo Corporation announces a strategic investment in Independence Hydrogen aimed at developing new decentralized hydrogen production and distribution projects in the United States, targeting industrial, logistics and critical infrastructure sectors.
The Hive Coega project, South Africa’s most ambitious green ammonia initiative, enters its operational phase with the release of tenders for essential infrastructure, marking a major step forward for the country in renewable energy production.
The Belfort commercial court has approved the sale of McPhy to John Cockerill Hydrogen, a €600,000 transaction involving majority retention of staff and an industrial project partially funded by European subsidies.
The City of Fresno becomes the latest member of First Public Hydrogen, the first US public authority dedicated to hydrogen development, thus strengthening its energy infrastructure and municipal bus fleet.