Hy2gen AG has raised an additional €47 million in funding from its existing shareholders. The capital injection—led by Hy24’s Clean Hydrogen Infrastructure Fund alongside Technip Energies and BenDa—comes at a critical time, as industrial sectors globally accelerate their decarbonization agendas amid intensifying climate mandates.
The German-headquartered company is advancing a portfolio of renewable hydrogen and derivative fuel projects valued at over €5 billion, targeting final investment decisions and construction readiness by 2027. These include green ammonia, e-methanol, e-SAF (sustainable aviation fuel), and other hydrogen-based fuels aimed at decarbonizing sectors traditionally considered hard-to-abate, such as shipping, aviation, and fertilizer production.
Hy2gen’s active project pipeline spans multiple geographies and applications. In Canada, the 300 MW “Courant” facility—expected to cost around €2 billion—is slated to begin construction by 2027, producing renewable ammonia and ammonium nitrate. In Norway, the “Iverson” project plans to leverage hydropower to generate 200,000 tons of renewable ammonia annually.
In Germany, the company’s “Atlantis” plant has already begun operations, while an expanded facility in Fos-Marseille, France, aims to deliver 75,000 tons of e-SAF annually, supported by a 390 MW electrolyzer. The latter project is being developed with H2V and is aligned with European aviation sector decarbonization targets.
Together, these projects would represent approximately 2 GW of installed electrolysis capacity—an ambitious benchmark that underscores both the scale of Hy2gen’s technical ambition and the confidence of its backers.
Technip Energies, a strategic investor and engineering partner, has also reaffirmed its commitment to Hy2gen. CEO Arnaud Pieton highlighted the firm’s intention to continue leveraging its engineering expertise and project delivery capabilities through subsidiaries such as Rely, focused on integrated green hydrogen and Power-to-X solutions.
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