Hy2gen has secured €47m ($53.5m) from existing shareholders to progress its most advanced hydrogen-based projects to reach final investment decision (FID) and construction phases.
The capital was awarded in a funding round led by Hy24 through its Clean Hydrogen Infrastructure Fund, Technip Energies, and individual founding investor BenDa. The funding will immediately support projects in Europe, Canada and South America.
Hy2gen has said its most advanced hydrogen and derivative production projects represent a total installed electrolysis capacity of 2GW and a funding of more than €5bn ($5.7bn) to start the construction phase by 2027.
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