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Trafigura increases commitment to green H2
Trafigura Group has agreed with H2 Energy Holding AG founders to increase its shareholding in H2 Energy Europe AG to become majority owners, as development plans ramp up for large-scale green H2 production projects and mid- and downstream H2 supply and distribution infrastructure in Europe. H2 Energy Holding AG’s founders retain a minority ownership and will continue to contribute their extensive knowledge and expertise to the company.
In addition, Trafigura retains its support for and minority equity interest in H2 Energy Holding AG, which will continue to focus on developing green H2 ecosystems and green H2 technologies.
Rolf Huber, Founder of H2 Energy said, "This is a welcome development that strategically positions both companies for future growth and investment. As we move forward, our primary objective is to fortify our green H2 ecosystem, focusing on infrastructural engineering projects, the development of fuel cell applications, and the development and commercialization of key H2 equipment. Collaborating closely with Trafigura, we aim to leverage each other's expertise to advance our shared goal of making green H2 a cornerstone of the energy system.”
Julien Rolland, Head of Strategic Projects and Investments for Trafigura said, “Today’s announcement allows H2 Energy Europe to focus on developing large-scale green H2 projects and distribution networks across Europe, while H2 Energy Holding AG will focus on its core business and technology development. Trafigura and H2 Energy Holding AG will continue to co-operate closely and benefit from each partner’s respective expertise.”
Plans to build a 1-GW green H2 facility in Esbjerg, Denmark are progressing, with COWI commissioned in June this year to conduct the front-end engineering design (FEED) for the production plant. A final investment decision is expected in 2024.
In South Wales, H2 Energy Europe has recently submitted a formal planning application to construct a 20-MW green H2 production facility within the port of Milford Haven in South Wales, with local company InSite Technical Services Ltd currently undertaking the FEED study.
The project has reached the final negotiation stage for funding under the UK government’s H2 Business Model and Net Zero H2 Fund: Electrolytic Allocation Round 2022, with final projects expected to be announced this year. Subject to government support, the facility should be commissioned within two years, using domestic renewable energy to produce green H2 for shipping and road transport, as a chemical feedstock and to provide power for industrial use across the South Wales Industrial Cluster.
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