Topsoe has signed a grant agreement with EU’s Innovation Fund for a total of €94 MM. The grant is a recognition of Topsoe’s state-of-the art SOEC electrolysis technology and the innovation inherent in building this first of its kind SOEC factory. The factory is Topsoe’s single biggest investment to date.

The factory will manufacture advanced, energy efficient solid oxide electrolyzer cells (SOECs) that are essential in the production of green H₂ and its derivatives. Electrolyzers are key for decarbonizing energy-intensive industries like steel, mining and long-distance transportation that account for approximately 30% of global greenhouse gas emissions and cannot easily be electrified. In Europe, the EU Commission has announced a proposal to deploy 40 GW of H₂ electrolyzer installation and 10 MMt of green H₂ production.

When used to produce green H₂, electrolyzers from Topsoe’s factory will reduce emissions by approximately 7.5 MMt of CO₂ equivalent over the first ten years of operation when compared to H₂ produced from natural gas.

Roeland Baan, CEO at Topsoe said, “I’m very proud that the Innovation Fund acknowledges our technology leadership and our decision to take the first steps in increasing European electrolyzer manufacturing capacity. EU funding is key in supporting the industry’s endeavors to back the green H₂ economy and contribute to EU’s 2050 climate neutrality target. We’re facing an immense task to decarbonize energy-intensive industries and long-distance transportation, and at Topsoe we’re doing our part. This grant from the EU demonstrates how public incentives and private innovation can bring us closer to net zero.”

Kim Hedegaard, CEO Power-to-X at Topsoe said, “We’re incredibly honored to have been awarded such a prestigious grant. The energy transition demands careful use of resources to maximize outputs, and our SOEC technology is up to 30% more efficient than competing technologies. Our Herning factory is hopefully the first of many, enabling Topsoe to take a leading role in decarbonizing shipping, aviation, steel and more industries. This is an exciting step for Topsoe, Denmark and the EU.”