Everfuel, Hy24 finalise 1 GW Baltic green hydrogen JV deal

Everfuel, a Danish hydrogen fuel company, and Hy24 have wrapped up a €200 million deal to establish a joint business to deploy up to 1 GW of green hydrogen production capacity in the Nordics. Reportedly, the joint venture (JV) can move on with the development of electrolyser capacity that will serve the European Union markets.

Furthermore, Everfuel will own 51 per cent of the new company, while Hy24, a 50-50 joint venture between Ardian and FiveT Hydrogen, will own the remaining 49 per cent. The JV’s initial acquisition is Everfuel’s HySynergy phase 1 project, which aims for the development of a 20 MW electrolyser in Denmark to produce green hydrogen for industrial uses and mobility. It is expected to be operational in the second quarter of 2023.

In September 2023, Deutsche ReGas planned to construct a 500 MW electrolysis plant for the production of green hydrogen in Lubmin, Germany. Reportedly, the preliminary design for the project has been finished, and the front-end engineering and design stage has begun.