P2X Solutions, a Finnish forerunner of green H₂, and Alpiq, a leading Swiss energy services provider and European electricity producer, have agreed on a financing arrangement according to which Alpiq becomes the majority owner of P2X Solutions.

“Alpiq is a significant European energy company, and we are very excited to partner with them. Establishing a strategic partnership with Alpiq substantially strengthens our position and ability to scale up our business. Furthermore, with Alpiq we can optimize our value chain of renewable electricity, green H₂ and eFuels,” said Herkko Plit, CEO of P2X Solutions. 

Alpiq generates electricity and offers its customers services in the fields of energy generation and marketing as well as energy optimization in several key markets in Europe, as well as in Finland with its own team since several years. The company has a particularly strong position and over 100 years of experience in hydropower production in Switzerland. Alpiq’s adjusted net revenue (excluding non-operating effects) in 2023 was over €8.5 B.

“P2X Solutions fits perfectly into Alpiq’s strategy thanks to its H₂ activities,” said Amédée Murisier, member of Alpiq’s Executive Board and also responsible for H₂ activities in addition to the Swiss business. “We are glad that we can consolidate our position in Finland using the knowledge of CEO Herkko Plit and his team and can make a significant contribution to integrating renewable energy.”

Following the arrangement, P2X Solutions will continue as an independent company. P2X Solutions is currently constructing Finland’s first industrial scale green H₂ production plant in Harjavalta, Finland. The company is also planning H₂ production plants in Joensuu and Oulu.