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Green Hydrogen H2 News

KGAL and EIT InnoEnergy enter green hydrogen cooperation

Arnes BiogradlijaBy Arnes Biogradlija14/12/20223 Mins Read
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Real asset management KGAL and EIT InnoEnergy seek to co-invest in and enhance the development of European hydrogen projects.

EIT InnoEnergy, one of the major investors in ideas to speed up the energy transition, is backed by the European Institute of Innovation and Technology (EIT), an organization of the European Union, and now has 180 portfolio firms.

The alliance benefits from KGAL’s 20 years of asset management expertise in the field of renewable energy sources.

More than 350 hydrogen projects have now been announced in Europe alone, highlighting the extraordinary role that green hydrogen plays in attaining climate targets. By 2025, according to Roland Berger, the synthesis of this useful chemical using electrolysis will have increased sevenfold. Green hydrogen is consequently growing in significance for KGAL, the innovator in institutional investors’ investments in renewable energy.

According to Michael Ebner, Managing Director of Sustainable Infrastructure at KGAL Investment Management, “Access to promising projects is a crucial determinant for investment success.” “One of the largest and most important global “ecosystems” for climate innovations is maintained by EIT InnoEnergy, which has more than 1,200 partners from business, government, finance, research, and education. We are also awed by the high success rate of the investments from the portfolio of our partner.”

So far, EIT InnoEnergy has assisted more than 500 businesses and projects. In 2030, the portfolio companies are expected to generate sales of about EUR 73 billion and contribute to a CO2 equivalent reduction of up to 1.1 gigatonnes.

After the initial stage It is anticipated that as part of the strategic relationship, KGAL will take part in a few hydrogen projects from the EIT InnoEnergy portfolio that have already conquered the early phase.

Green hydrogen is the subject of a strategic partnership between KGAL and EIT InnoEnergy.

Greenfield investments from KGAL are providing new funding and experience, and together, the initiatives will be developed further to become commercial operations. “KGAL has a wealth of project-related experience and has often demonstrated that it follows through on development projects to the end. Additionally, Thomas Engelmann’s Energy Transition team at KGAL contains acknowledged hydrogen experts, “Christian Müller, a member of the EIT InnoEnergy management board and the region’s CEO, notes. “KGAL’s skills in the later phases of the life cycle complement our strengths in assisting climate technology breakthroughs to achieve a breakthrough in the market excellently.”

With this strategic alliance, KGAL highlights its intention to increase its support for the green hydrogen/energy transition starting in 2023.

To create a European value chain for green hydrogen, EIT InnoEnergy, with the assistance of Breakthrough Energy, established the European Green Hydrogen Acceleration Center (EGHAC). It provides a variety of services, including financial resources, in support of industrial projects for green hydrogen.

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