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HSBC, UniCredit among investors backing TES’ green hydrogen plans with €65m
© TES
HSBC, UniCredit among investors backing TES’ green hydrogen plans with €65m
© TES

HSBC, UniCredit among investors backing TES’ green hydrogen plans with €65m

Tree Energy Solutions (TES) has announced today (July 21) it has concluded its second fundraising round at €65m ($66.6m), to push ahead with its plans of building large-scale hydrogen projects.

Having attracted a global investor base including leading financial institutions and energy corporations such as, E.ON, HSBC, UniCredit, and Zodiac Maritime, the company hopes the funds will bring them closer to reaching a final investment decision (FID) by the end of 2023.

TES is currently developing a green energy hub at the German port of Wilhelmshaven, with plans of supply 250Twh of green gas annually, with a strategy to develop similar hubs in other European ports to offer affordable green hydrogen, gas and power.

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