Hy2gen AG, a Stuttgart-based start-up focused on green hydrogen production facilities, has welcomed Trafigura as a new shareholder and board member.
By welcoming the physical trading and logistics business as a shareholder, Hy2gen will be able to develop its business development capabilities and support the development on new production sites.
“Trafigura welcomed the opportunity to become a shareholder in Hy2gen, its first investment in the hydrogen industry,” said Robert Gillon, Senior Manager from Trafigura’s Power and Renewables Trading Division.
“We see the opportunity in working in this high potential alternative fuel market with a dynamic start-up team.”
Hy2gen bring together specialists with experience of developing, building and operating plants for the production of green hydrogen and hydrogen-based e-fuels, offering better ways to achieve CO2-free or CO2neutral fuels and storage solutions.
The first of the plants will be built in Canada in 2020 and will be followed by other plants in France, Mexico, Norway and South Africa.
“We are focusing on large-scale production facilities as price is an important factor for green hydrogen to become a tradable commodity,” said Cyril Dufau-Sansot, CEO of H2gen.
“As this happens, we will be well positioning to grow quickly alongside anticipated commercial demand.”
Hy2gen already has a project pipeline for over 500 megawatts of electrolyser capacity (74,000 tonnes of CO2-free hydrogen per year from renewable energies), which no other hydrogen producer has achieved.