The Ministry of Employment and the Economy has awarded P2X Solutions, a Finnish pioneer in green hydrogen and power-to-x technology, a EUR 26 million grant for new energy technology and large-scale demonstration projects to build Finland’s first industrial scale green hydrogen production plant and methanation unit in Harjavalta.
In addition, the Climate Fund has provided the company with a EUR 10 million capital loan. P2X Solutions is planning a total investment of around EUR 70 million.
The development of the hydrogen market will be critical in combating climate change and meeting Finland’s emission reduction targets. By electrolyzing water with renewable electricity, green hydrogen is produced without emitting any pollutants. Wind power, for example, generates renewable electricity and is currently being built in large quantities in Finland. P2X Solutions intends to process some of the green hydrogen it produces into renewable synthetic fuels like synthetic methane. It allows existing vehicles to run on zero-emission fuels, resulting in significant emissions reductions in a short amount of time. The planned green hydrogen production plant in Harjavalta Industrial Park has a capacity of 20 MW.
“The grant decision of the Ministry of Employment and the Economy and the financing decision of the Climate Fund are important steps towards starting the production of green hydrogen in Finland. Green hydrogen and further processed renewable fuels are key to significant emission reductions where electrification is challenging. The involvement of the state, as well as investors and partners , reflect a strong and broad confidence in our operations and a shared desire to achieve a cleaner future. We are now creating a green hydrogen market, keeping pace with the rest of Europe and moving towards an emission-free welfare society,” says Herkko Plit, CEO of P2X Solutions.
P2X Solutions plans to begin construction on the Harjavalta plant in the autumn of 2022, with the plant’s commissioning scheduled for the first half of 2024. The company plans to build more green hydrogen production facilities based on the same model.
