French hydrogen fund Hy24 and its Danish partner Everfuel announced Tuesday a total investment of €200 million to create a joint venture that will finance infrastructure in Denmark, Norway, Sweden and Finland.
Investment Details
According to a joint statement issued by the companies, the joint venture will be 51% owned by Everfuel, while Hy24 will hold 49%. The 200 million euros will be used to finance projects aimed at producing green hydrogen. The first acquisition of this joint venture will be a 20 MW electrolyser in Denmark that will start operation in the second quarter of 2023. Additional projects could be transferred to the joint venture at a later date if the need arises.
Support from the Danish Ministry of Foreign Affairs
In the joint statement, Lars Løkke Rasmussen, Denmark’s Minister of Foreign Affairs, “warmly welcomed this important investment and joint venture. Hy24’s efforts to support Everfuel and the development of relevant projects have not gone unnoticed: it is said to have committed itself to accompany this company in case of a new or future capital increase.
FiveT Hydrogen And Ardian Raise €2 Billion To Invest In Decarbonized Hydrogen
Hy24 is a joint venture between the FiveT Hydrogen platform and the Ardian fund. In October 2020, it raised more than 2 billion euros for investment in the entire decarbonized hydrogen chain over the next 5/6 years. So far, the fund has made three separate investments in Germany (with H2 Mobility Deutschland & Hy2Gen AG) and Spain (via Enagas Renovable).
