Everfuel and Hy24 set up a joint-venture

The Danish operator and the investment fund are to create a joint company with the aim to eventually produce 1 GW of green hydrogen in the Nordic countries.

The structure – Everfuel Hy24 A/S – will invest €200 million (about $212 million) in the production of green hydrogen in Northern Europe (Denmark, Norway, Sweden, Finland). Everfuel owns 51% of the company and Hy24 owns 49% (via its Clean H2 Infra Fund). The first operation is phase 1 of the HySynergy* project, with a 20 MW electrolyser located in Fredericia, Denmark. It is scheduled to start in the second quarter with a cost of €28 million (around $30 million). The joint venture will also benefit from Everfuel’s projects when they reach the final investment stage. The company’s current project portfolio amounts to 1.3 GW.

Denmark alone ambitions to have a capacity of 4-6 GW by 2030.

As part of this agreement, Everfuel reserves the exclusive right to distribute in its stations the non-contracted volumes of hydrogen from the joint venture’s electrolysers.

*As part of the IPCEI, this project was financed to the tune of €33.1 million (about $35.2 million) and it will provide a total of 100 MW with three electrolysers

Article written by Laurent Meillaud and translated by Logan King

If you liked it, share it

About the author

Marina Leite

Marina Leite

Our latest articles

Leave a comment

H2Today / Seiya Consulting