With success in selling LNG capacity as well as long-term contracts for hydrogen, German hydrogen manufacturer Tree Energy Solutions (TES) may think about going public in the next several years, according to Chief Executive Marco Alverà.
TES has announced that it will run Germany’s fifth floating storage and regasification unit (FSRU) in Wilhelmshaven alongside E.ON Green Gas and Engie. TES is sponsored by Belgian company AtlasInvest.
Along with managing LNG facilities, TES also provides cutting-edge technologies that use hydrogen to create synthetic methane.
While it would entail expenditures, a hydrogen supply network might improve Europe’s energy security at a time when the continent is trying to reduce its reliance on Russian pipelined natural gas.
Alverà, who was once the CEO of Italian gas grid operator Snam, stated, “We are trying now to sell LNG capacity and, at the same time, to sell hydrogen to have long-term contracts and it is doing very well.
He said that North America was the most “interesting” market for an energy business looking to go public and that “in a couple of years we may explore a market listing.”
We are quite interested in the United States, but it is too early to discuss specifics, he added.
Alverà stated that Wilhelmshaven’s fifth FSRU will begin operations by October or November 2023, in order to establish a new gas supply route for Germany, which up until this point had been heavily reliant on Russian gas, flows arriving through the Nord Stream 1 pipeline.
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