Everfuel and Hy24 have launched a $213M fund to develop eco-friendly hydrogen projects in the Nordics.
The two companies have over $2B in total received investments.
- The
two companies aim to accelerate the use of green hydrogen in Europe,
North America, South America, and the Asia Pacific region.
- This fund will invest $231M to develop green hydrogen infrastructure in Denmark, Norway, Sweden, and Finland.
- According to estimates, the companies will operate 1 GW of green hydrogen projects by the end of the project.
- The fund has already acquired HySynergy Phase 1, a 20 MW green hydrogen production facility in Denmark.
- Denmark-based Everfuel will own 51% of this newly formed joint venture, while Hy24 will own 49%.
- HY24,
based in France, is backed by Border to Coast Pensions Partnership, the
CMA CGM Group, ERAFP, Nuveen, Ballard, Schaeffler, and Société
Générale.
- By 2030, Denmark aims to build 4 to 6 GW of electrolyzer production capability, utilizing the potential of the country's wind-based energy generation.
