Hy2gen Canada Inc, the Canadian subsidiary of green hydrogen producer Hy2gen, has been selected to receive a block of hydroelectric power from Hydro-Québec, subject to final agreement. This block of power will be used for the production ofhydrogen and green ammonia in Baie-Comeau, marking a crucial milestone for the Courant project. This agreement enables us to launch the first engineering phases and bring the final investment decision (FID) closer. The project aims to start construction of the green ammonia plant in the second half of 2026, with production scheduled for 2029, depending on Hydro-Québec’s connection schedule. A constant supply of hydroelectric power will ensure continuous operation of the electrolysis process, essential for producing green hydrogen from water, which will then be combined with nitrogen produced on site to create green ammonia.
Impact and opportunities of decarbonization
Baie-Comeau’s strategic location enables short routes for end-users of green ammonia, facilitating the decarbonization of chemical production and supporting the transition to a sustainable, emissions-neutral industry. Cyril Dufau-Sansot, CEO of Hy2gen, expressed his gratitude for the opportunity: “We are honored by the Quebec government’s decision to award us a block of energy for our Courant project. It reinforces our vision and commitment to green hydrogen production in Quebec.” Hy2gen aims to become the world’s largest supplier of renewable hydrogen. Since 2023, the company has been producing green hydrogen at its plant in Werlte, Germany. Hy2gen AG, based in Wiesbaden, develops, finances, builds and operates plants for the production of renewable hydrogen and derived fuels, including green ammonia, e-methanol and sustainable aviation fuel.
Strategic and Financial Partnerships
Hy2gen benefits from strategic and financial partnerships with major players such as Swiss commodities trader Trafigura, French technology and engineering company TechnipEnergies, CDPQ, French sustainable investment manager Mirova and the €2 billion Hy24 infrastructure fund. In early 2022, Hy2gen raised 200 million euros from investors to support its projects. The Quebec government’s decision to support this project represents a significant step forward for Hy2gen Canada and the renewable energy industry, contributing to Quebec’s ambitious sustainable development goals. Hy2gen’s ongoing commitment to developing renewable hydrogen projects around the world reflects the growing importance of this technology in the global energy transition.
