Everfuel and Hy24 sign a joint venture

Everfuel Hy24 joint venture
Everfuel and Hy24 sign a joint venture

The Danish operator, Everfuel and the investment fund Hy24 are to create a joint venture 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

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Article written by Laurent Meillaud and translated by Logan King

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About the author

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Laurent Meillaud

Freelance automotive journalist and consultant, author as well, focused on technologies and new trends for more than 30 years, convinced that hydrogen is one of the energies for the future.

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