Hy2gen secures €47 million to boost its hydrogen and derivatives projects

Hy2gen, a renewable hydrogen producer based in Germany, has secured €47 million in funding from existing shareholders to advance its hydrogen and derivatives projects. The funding round was led by Hy24, a France-based low-carbon hydrogen asset manager, Technip Energies, and founding investor Object. The capital will be used to speed up the deployment of projects producing renewable hydrogen and its derivatives in Europe, Canada, and South America. Hy2gen plans to construct green hydrogen, green ammonia, e-SAF, e-methane, and e-methanol production plants to assist clients in decarbonizing challenging sectors such as shipping, aviation, chemicals, and fertilizers. The company’s advanced projects are anticipated to have a total electrolysis capacity of around 2 GW and require more than €5 billion for construction by 2027. CEO Cyril Dufau-Sansot expressed gratitude for the support, emphasizing the company’s readiness to move forward with industrial-scale production plants. The funding will enable Hy2gen to enhance its innovative projects and contribute to the global transition to a more sustainable economy.