JLEN and HydrogenOne investing in green hydrogen

Date:

Share post:


JLEN Environmental Assets and HydrogenOne Capital Growth are making their first investments into the green hydrogen sector.

JLEN is buying a 33% equity stake in Foresight Hydrogen Holdco GmbH. Foresight Hydrogen Holdco holds a 75% stake in HH2E Werk Thierbach GmbH, a Special Purpose Vehicle which owns the development rights to the Thierbach green hydrogen project, a large green hydrogen production plant near Borna in Germany, capable of producing around 6,000 tonnes (over 200,000MWh) of green hydrogen per year during its first 100MW phase. Green hydrogen will be produced through electrolysis powered by renewable electricity. The project will also integrate battery storage.

Thierbach is currently under development by HH2E AG, a developer of hydrogen projects in Germany.

HydrogenOne already owns a £5m (€6m) stake in HH2E AG and is making a £2.4m (€2.8m) investment in the Thierbach Project

Foresight Hydrogen Holdco also owns 7.6% of HH2E and holds the right to majority fund future projects developed by it.

Thierbach will serve green hydrogen customers and off-takers, including leading players in the mobility sector, large-scale energy and industrial consumers such as the chemical industry and commercial air and road transport operators. Further expansion is planned in the future to increase the capacity of the plant to over 1GW with an annual production of over 60,000 tonnes of green hydrogen.

JLEN’s investment has been made alongside Foresight Energy Infrastructure Partners (FEIP) and Foresight ITS, with both JLEN and FEIP acquiring their respective 33% interests in Foresight Hydrogen Holdco from Foresight ITS. The transaction will see JLEN invest up to €5.7m in Foresight Hydrogen Holdco.

The money will be used to bring Thierbach to a construction-ready stage.

For JLEN, this acquisition represents JLEN’s first development-stage hydrogen investment and comes with rights secured to fund the development and build-out of Thierbach and a pipeline of further green hydrogen projects alongside HH2E.

JLEN / HGEN : JLEN and HydrogenOne investing in green hydrogen

previous story | next story





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Why Coca-Cola Stock (NYSE:KO) Deserves Its “Strong Buy” Rating

After a rough 2022, it’s only natural that investors look forward to good tidings this year. Unfortunately,...

Binance Charity Announces 1000 African Scholars In Collaboration With Utiva – Cryptopolitan

Paris, France, 27th January, 2023, Chainwire Binance Charity, the philanthropic arm of Binance, the world’s leading cryptocurrency and...

How To Improve Your Healthcare Email Marketing

Small practice administrators in the healthcare industry who are seeking to improve their email marketing without knowing...