Belgian hydrogen hub developer TES pockets EUR 65m for new projects
Hydrogen tanks. Source: US Office of Energy Efficiency & Renewable Energy
Belgian green hydrogen supplier Tree Energy Solutions has completed a funding round that has brought it EUR 65 million (USD 66.5m) in fresh capital to develop a bunch of renewable hydrogen projects across Europe by 2030.
The fundraising, the second one for the company, has attracted global financial and energy players such as German energy major E.on SE (ETR:EOAN), UK lender HSBC Holdings plc (LON:HSBA), Italy’s UniCredit (BIT: UCG) and UK ship management firm Zodiac Maritime.
Tree Energy Solutions will earmark the raised funds for green hydrogen projects. The company is developing a scheme at the German port of Wilhelmshaven, where it aims to create a production hub for 5.5 million tonnes of green hydrogen. The energy hub will deliver 250 TWh of green gas each year.
“This newly raised capital will be used to bring us to FID by end of 2023,” said CEO Marco Alvera.
The Belgian company’s plan is to replicate the model to set up similar hubs at other European ports, aiming to supply green gas and hydrogen on an industrial scale. Additional energy supply and import hub projects are under development by the firm in Germany, Belgium, the Netherlands, France, the Middle East, Canada and the US.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.