Trafigura Group has agreed to increase its shareholding in H2 Energy Europe to become majority owners. This move comes as the company ramps up its development plans for large-scale green hydrogen production projects and mid- and downstream hydrogen supply and distribution infrastructure in Europe.
H2 Energy Europe AG is a subsidiary of H2 Energy Holding AG, which was founded in 2019 to develop green hydrogen eco-systems and technologies. Trafigura has retained its minority equity interest in H2 Energy Holding AG, which will continue to focus on its core business.
Rolf Huber, Founder of H2 Energy, said that the partnership with Trafigura will strategically position both companies for future growth and investment. He added that the company’s primary objective is to fortify its green hydrogen eco-system, focusing on infrastructural engineering projects, the development of fuel cell applications, and the development and commercialization of key hydrogen equipment.
Julien Rolland, Head of Strategic Projects and Investments for Trafigura, said that the announcement allows H2 Energy Europe to focus on developing large-scale green hydrogen projects and distribution networks across Europe, while H2 Energy Holding AG will focus on its core business and technology development. He added that Trafigura and H2 Energy Holding AG will continue to co-operate closely and benefit from each partner’s respective expertise.
Among the company’s key development projects is a plan to build a 1 GW green hydrogen facility in Esbjerg, Denmark. The project is progressing well, with COWI commissioned to conduct the front-end engineering design (FEED) for the production plant. A final investment decision is expected in 2024.
In South Wales, H2 Energy Europe has recently submitted a formal planning application to construct a 20 MW green hydrogen production facility within the port of Milford Haven. The project has reached the final negotiation stage for funding under the UK government’s Hydrogen Business Model and Net Zero Hydrogen Fund: Electrolytic Allocation Round 2022, with final projects expected to be announced this year. Subject to government support, the facility should be commissioned within two years, using domestic renewable energy to produce green hydrogen for shipping and road transport, as a chemical feedstock and to provide power for industrial use across the South Wales Industrial Cluster.
