Hy24 and Everfuel create a EUR 200 million Joint Venture
Everfuel A/S, based in Denmark, is a leading green hydrogen energy company with a dedicated mission to enable European-wide production, distribution and refuelling of 100% green hydrogen fuel at prices competitive to traditional gasoline and diesel.The Joint Venture combines the industrial experience and financial strength of two leaders within clean hydrogen infrastructure.
As one of the first actions, the Joint Venture will take over HySynergy electrolyser facility in Fredericia, Denmark. The green hydrogen production facility is expected to start commercial operations later this year and will contribute to significant decarbonization of industrial processes at the adjacent Crossbridge Energy Refinery. HySynergy will also offer a competitive supply of green hydrogen as zero-emission fuel for clean mobility.
This Joint Venture is a major leap in the development of green hydrogen in Denmark and will help to accelerate the delivery of existing hydrogen project, as well as strengthening the collaboration on other hydrogen production assets in Denmark and the rest of the Nordics.
“I warmly welcome this important investment and joint venture between Everfuel and Hy24. Green hydrogen and e-fuels will play a big role in decarbonizing industries such as shipping, aviation and heavy transportation. So this is not only good news for the production of green energy in Denmark, but also for our global efforts to reduce CO2 emissions. The investment underlines that Danish companies are frontrunners within green technologies. It also shows that Denmark remains an attractive destination for foreign green investments thanks to competitive framework conditions, supporting both Danish and European ambitious green policies and climate goals.”
“Denmark is an innovative country with exceptional potential for renewable electricity production and thereby for the production of green hydrogen to decarbonize industry and mobility sectors. The country has a strong policy framework which supports the development of green hydrogen projects and is home to some of the most advanced hydrogen entrepreneurs in Europe. It is a pleasure for Hy24, through this alliance with Everfuel, to contribute to Denmark's efforts to execute their Power-to-X strategy.”
Support from Invest in Denmark
Invest in Denmark has supported Hy24 in understanding the Danish framework conditions and the opportunities within green hydrogen industry in Denmark. Invest in Denmark has also introduced Hy24 to relevant stakeholders and potential partners in the process and will continue to assist Hy24 in their activities in Denmark.About Everfuel
Everfuel is making green hydrogen for zero emission industry and mobility commercially available across Europe, offering competitive all-inclusive hydrogen supply and fuelling solutions. We own and operate green hydrogen infrastructure and partner with industry and vehicle OEMs to connect the entire hydrogen value chain and seamlessly provide hydrogen fuel to enterprise customers under long-term contracts. Green hydrogen is a 100% clean energy carrier made from renewable solar and wind power and key to decarbonising industry and transportation in Europe. We are an ambitious, rapidly growing company, headquartered in Herning, Denmark, and with activities in Norway, Denmark, Sweden, The Netherlands, Germany and Belgium, and a plan to grow across Europe. Everfuel is listed on Euronext Growth in Oslo under EFUEL.
Read more about Everfuel here.
CEO Jakob Krogsgaard
About Hy24
The world’s largest clean hydrogen infrastructure fund results from the initiative of Air Liquide, TotalEnergies and VINCI Concessions, combined with the one of Plug Power, Chart Industries and Baker Hughes, which were sharing a common objective to accelerate the development of the hydrogen sector with the launch of the “Clean H2 Infra Fund”.
The Clean H2 Infra Fund is managed by Hy24, a 50/50 joint venture between Ardian, a world leading private investment house, and FiveT Hydrogen, a clean hydrogen investment platform which enabled the gathering of the two initiatives. The fund has also attracted additional anchor industrial partners such as LOTTE Chemical, Airbus, and Snam, Enagás, GRTgaz (together as one Anchor partner) and anchor financial investors such as AXA, Crédit Agricole Assurances, CCR, Allianz, CDPQ, JBIC as well as other investors: Border to Coast Pensions Partnership, the CMA CGM Group, ERAFP, Nuveen, Ballard, Schaeffler, Société Générale Assurances, Groupe ADP, EDF, Norinchukin, Caisse des dépôts, DBJ, Itochu, Groupama and BBVA. The fund is now up and running with €2 billion of allocations.
With strong industrial and financial expertise at its core, Hy24 will have a unique capacity to accelerate the scaling up of hydrogen solutions along the whole value chain: production, conversion, storage and supply and usage. Hy24 will support large early stage and strategic projects into becoming essential energy infrastructures.
CEO Pierre-Etienne Franc