TES, known for producing e-NG (electric natural gas derived from green hydrogen), surpassed their financing goal with a successful €140m Series C fundraising round.
The funds will be used to support the continued development of the company’s key green energy projects worldwide. The round saw active participation from leading financial institutions and energy investors, such as Azimut Group, Fortescue, E.ON, HSBC, O.G. Energy, and Zhero.
E-NG is a green hydrogen derivative, a sustainable alternative to traditional natural gas. It’s synthesized from green hydrogen and biogenic or recycled CO2, featuring the same chemical properties as natural gas. E-NG harnesses the existing natural gas infrastructure, providing an affordable green energy solution for industries and consumers.
TES has built strategic partnerships with top-tier energy giants, including TotalEnergies, Osaka Gas, Toho Gas, Tokyo Gas, Fortescue, and ADNOC. These alliances are meant to foster an expansive pipeline portfolio of large-scale e-NG projects around North America, Middle East, Australia, and Europe.
In line with its decarbonization goals, TES is constructing a green energy hub in the German port of Wilhelmshaven. The hub will facilitate the import of natural gas and e-NG, export of CO2, and production of green hydrogen and green power, serving Germany and neighboring energy markets.
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Marco Alverà, Co-founder and CEO of TES, expressed excitement about this advancement, emphasizing that this newly acquired funds would fuel their e-NG and hydrogen projects globally. According to Alverà, the successful round not only reflects the credibility of their sustainable business model but also their ability to draw strategic partners to their initiatives.
Marcel and Paul van Poecke, co-founders and co-CEO’S of TES, congratulated the team on the success of the latest financing round. They expressed delight over the continued support from current investor base and the joining of new investors.
The financing operation was managed by MW&L Capital Partners, serving as the exclusive financial advisor and placement agent, and Burggraaf & Hoekstra acted as legal advisors.
