Hy2gen, specialized in green hydrogen production, welcomes Trafigura as its new shareholder. Hy2gen AG, a start-up from the Stuttgart region created to build green hydrogen production facilities, has completed a further financing round. Trafigura, a market leader in the global commodities industry has become a shareholder and joined the board of the company.
The new investment will enhance Hy2gen AG’s business development capabilities and support the development of new production sites.
Hy2gen AG brings together specialists with experience of developing, building and operating plants for the production of green hydrogen and hydrogen-based e-fuels, offering better ways to achieve CO2-free or CO2 neutral fuels and storage solutions. The first plants will be built in Canada in 2020, to be followed by other plants in France, Mexico, Norway and South Africa.
The company aims to become a leader in the hydrogen and e-fuels market for mobility and industry, areas where it is currently proving difficult to significantly reduce emissions. Hy2gen AG already has a project pipeline for over 500 megawatts of electrolyser capacity (74,000 tons of CO2-free hydrogen per year from renewable energies or, in other words, an annual saving of 810,000 tons of CO2 in comparison with the conventional production of hydrogen). As of today, no hydrogen producer has reached this scale.
„We are focusing on large-scale production facilities as price is an important factor for green hydrogen to become a tradable commodity. As this happens we will be well positioned to grow quickly alongside anticipated commercial demand.“ Cyril Dufau-Sansot, Hy2gen CEO
“Trafigura welcomed the opportunity to become a shareholder in Hy2gen, its first investment in the hydrogen industry. We see the opportunity in working in this high potential alternative fuels market with a dynamic start-up team.” Robert Gillon, Senior Manager from Trafigura’s newly created Power and Renewables Trading Division
As hydrogen and hydrogen-based products can be used across many other sectors beyond mobility and industry, Trafigura and Hy2gen AG will further identify possible areas of collaboration in the coming months.
ABOUT HYDROGEN: WHAT IS THE SUBSTANCIAL DIFFERENCE?
GREY HYDROGEN
– Negative CO2 footprint due to fossil resources.
– Produced mostly via thermic conversion (gas, oil, coal), or “grey“ electricity.
– Big industrial production facilities needed.
– Production usually built close to industrial client, not for trading.
BLUE HYDROGEN
– Using CO2 Emission Certificates to wash Grey Hydrogen , e.g. pressing CO2 into caverns.
– Negative CO2 footprint due to fossil resources (same as “grey hydrogen“).
– Produced mostly via thermic conversion (gas, oil, coal), or “grey“ electricity.
CARBON FREE GREEN HYDROGEN
– Generated via electrolysis using 100% renewable electricity.
– Meeting industry standards with risk-free production (OHSAS 18001, ISO 14001 and ISO 9001).
– Flexibility of production sizes, from small/local to centralised industrial facilities.