Germany-based Hy2gen AG completed an additional funding round of €47 million from existing shareholders. The round is led by Hy24, a low-carbon hydrogen asset manager investing through its Clean Hydrogen Infrastructure Fund, alongside leading Engineering & Technology company Technip Energies, and individual founding investor BenDa (Family fund of Hy2gen’s Chairwoman Dana Kallasch). The capital will be used to accelerate the deployment of Hy2gen’s portfolio of projects producing renewable hydrogen and its derivatives in Europe, Canada and South America—to reach Final Investment Decision (FID) and prepare the construction phase.

Hy2gen is designing, building, and operating green hydrogen, green ammonia, e-SAF, e-methane and e-methanol production plants using Power-to-X processes to support its clients in decarbonizing energy-intensive and strategic hard-to-abate sectors such as shipping and aviation, as well as chemicals and fertilizers. Hy2gen’s most advanced projects would represent a total installed electrolysis capacity of approximately 2 GW and a funding of more than €5 billion to start the construction phase by 2027.

Hy2gen’s portfolio include the 300 MW project “Courant” located in Canada, a renewable ammonia and ammonium nitrate plant of approximately €2 billion of capex, currently finalizing its design, with construction expected to begin by 2027, “Atlantis” plant extension in Germany, which started producing renewable hydrogen in 2023, and “Iverson” project in Norway, aiming to produce 200,000 tons of renewable ammonia annually using renewable hydropower.

In addition, Hy2gen is collaborating with H2V in the Fos-Marseille industrial basin on a 390 MW project with a capex of approximately €1.5 billion, contributing to the decarbonization of Europe’s aviation sector with a production of 75,000 tons of e-SAF.