Everfuel A/S and HY24 create a 200 million joint venture
Everfuel A/S and Hy24 have announced the formation of a joint venture aimed at funding the accelerated development of electrolyser capacity across the Nordics. The JV will be majority-owned by Everfuel, with a 51% stake, while the Hy24-managed Clean H2 Infra Fund will hold 49%. We have assisted Everfuel A/S.
The partners plan to invest a total of EUR 200 million in equity in green hydrogen infrastructure across Denmark, Norway, Sweden, and Finland, enabling them to fund, build, own, and operate up to 1 GW of green hydrogen projects.
The JV's first investment will be the acquisition of the HySynergy Phase 1 20 MW green hydrogen production plant in Fredericia, Denmark, and the partners plan to leverage Everfuel's electrolyser development, construction, and operation capabilities, and Hy24's extensive business development experience and relationships within the hydrogen industry and policymaker circles.
The HySynergy Phase 1 electrolyser is expected to start commercial operations in Q2 2023 and will help decarbonize industrial processes at the adjacent Crossbridge Energy Refinery.
The JV is aligned with Hy24's goal of accelerating the scale-up of hydrogen markets in Europe, the Americas, and Asia Pacific regions.
Contact
