German renewable hydrogen producer Hy2gen has raised €47 million from its existing shareholders to advance its e-fuel and green ammonia projects. The funding will help move these projects towards final investment decisions (FID) and the construction phase.

The investment round was led by Hy24, via its Clean Hydrogen Infrastructure Fund, with participation from Technip Energies and founding investor BenDa (a fund owned by Hy2gen’s Chair of the Supervisory Board, Dana Kallasch). The capital will be used to accelerate the development of Hy2gen’s portfolio of renewable hydrogen and hydrogen derivatives projects in Europe, Canada, and South America.

“As an investor and catalyst, our role is to support the most promising entrepreneurs in the ecosystem.” said Pierre-Etienne Franc, CEO of Hy24. “Over the past three years, Hy2gen has demonstrated its ability to build a diversified portfolio of e-fuel and green ammonia projects across Europe, Canada and South America. The company has mobilized a highly experienced team and addressed the complex challenge of industrial scalability and decarbonization—balancing offtake agreements with unique access to renewable resources.”

Hy2gen’s most advanced projects could account for up to 2 GW of installed electrolysis capacity and require more than €5 billion in funding, with the goal of beginning construction by 2027.

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