Spanish entrepreneur Sisco Sapena has launched H2PLT, a new company dedicated to establishing Spain’s first green hydrogen micro-generation network.
Founded in February 2022 with an initial capital of EUR 210,000 (USD 225,775), H2PLT just started operations, currently employing a team of six people, the company said in a press release on Wednesday.
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The business is seated in the city of Lleida, Catalonia, where Sapena runs a company he is better known for, Lleida.net (BME:LLN) -- a communications, internet and telecommunications services provider.
The vision for H2PLT is to set up green hydrogen-based power stations to produce hydrogen, store it and convert it to electricity during the night for sale to the wholesale market. Renewable energy for the process would come from small solar PV farms built exclusively for this purpose, H2PLT said.
The company also plans to build a network of service stations for electric and fuel-cell vehicles that will use H2PLT’s electricity and hydrogen.
Some of these plans are already in motion, according to H2PLT. The firm said that it has secured 80 hectares at the El Pedernoso solar park in the province of Cuenca, east-central Spain. Next year, the site will have a capacity of up to 40 MW and a production output of 2.5 tonnes of hydrogen per day.
The town of El Pedernoso will also host what H2PLT says will be Spain’s largest refuelling station for e-vehicles with more than 20 charging points. Construction of this station has already begun, H2PLT said, adding that hydrogen refuelling points could be added later.
Sapena plans to list H2PLT on Euronext in the second half of 2023 and start selling to the wholesale market in the fourth quarter of 2023. The business might seek a dual listing in the US at a later date, the press release reads.
(EUR 1.0 = USD 1.075)