Tree Energy Solutions (TES), a global green hydrogen company with a mission to provide a net-zero future by decarbonizing the energy supply chain, has successfully completed its second financing round at €65 million.
This fresh finance will enable TES to speed the transition to sustainable energy by constructing the largest hydrogen facilities in the world by 2030. Investors from around the world, including E.ON, HSBC, UniCredit, and Zodiac Maritime, participated in the capital-raising effort.
TES is constructing a green energy center in the German port of Wilhelmshaven with the aim of supplying 250TWh of green gas per year. The plan is to build comparable hubs in other European ports, and TES will provide volumes of affordable green hydrogen, green gas, and green electricity that will considerably contribute to the decarbonization of global energy markets.
This entails TES introducing a circular carbon economy to the hydrogen market by combining hydrogen with CO2 to make synthetic methane utilizing cutting-edge technologies. To diversify Europe’s energy supply, the company will import green hydrogen and synthetic methane from nations with abundant renewable energy sources.
Existing pipeline infrastructure can permit delivery to end customers in a cost-effective manner. In its European Green Energy Hub in Wilhelmshaven, TES is already ramping up the production of 5,500,000 tons of dependable, green hydrogen on demand. TES is committed to attaining carbon neutrality through the use of renewable energy sources and contributing to energy security solutions. Integrating and optimizing worldwide supply chains, the corporation is also creating other energy supply and import hubs in Germany, Belgium, the Netherlands, France, the Middle East, Canada, and the United States.
Marco Alverà, CEO of TES, said: “We are excited to announce this milestone on our journey to deliver green, affordable hydrogen. This newly raised capital will be used to bring us to FID by end of 2023. Our sustainable business model has attracted the interest of world-class industrial and financial players, demonstrating the growing appetite for renewable natural gas. TES is now further progressing to become an agent of change, driving this revolution.”
Noel Quinn, CEO of HSBC, said: “Delivering on the huge promise of green hydrogen and other clean energy solutions is critical to achieving a net zero global economy. It will be equally important to ensuring there is a secure and affordable energy supply. We are therefore pleased to be partnering with TES on this ambitious project, which covers a number of HSBC’s markets and can positively impact our customers.”
Andrea Orcel, CEO of UniCredit, said: “ESG considerations are fundamental to every investment decision we make and our participation in Tree Energy Solutions’ latest funding round is excellent proof of this and of our continued commitment to sustainability. Renewable and low carbon hydrogen play a key role in the EU Taxonomy and will be integral to both accomplishing the objectives set out in the European Green Deal and facilitating Europe’s clean energy drive. As an active member of the European Clean Hydrogen Alliance and prominent financier of the sector, we are delighted to partner with TES in this transition.”
Patrick Lammers, COO of E.ON, said: “The ramp-up of a functioning hydrogen economy must have in our days even more priority in Germany and Europe. The deepening of our partnership with TES is a next step on the way to a sustainable energy landscape while ensuring security of supply. Without the use of green gases such as hydrogen, it will be impossible to completely avoid CO2 emissions.”
Daniel Ofer, CEO of Zodiac Maritime, said: “Zodiac Maritime and OG Energy are excited to be founding investors in TES Energy. We look forward to scaling hydrogen as a green and sustainable energy source for the future.”
MW&L Capital Partners acted as exclusive financial advisor and placement agent to TES. Burggraaf & Hoekstra acted as legal advisor to TES.
