Maersk Parent Invests EUR 20m in Green Hydrogen Project
by Ship & Bunker News Team
Friday December 25, 2020 Maersk parent
EUR 20 million in green hydrogen firm
Green Hydrogen Systems. So-called green hydrogen uses renewable energy as an integral part of its production process, negating the environmental impact of traditional hydrogen production techniques such as steam methane reformation. Green Hydrogen Systems says it is pioneering wind-to-hydrogen projects in Denmark. Use of hydrogen is seen a promising route to decarbonization in general, and is considered one of the candidate marine fuels of the future. Green Hydrogen Systems said A.P. Møller s investment is being made as part of a convertible loan with
By William Mathis (Bloomberg)
Danish electrolyzer startup Green Hydrogen Systems A/S raised 28 million euros ($34.3 million) to scale up production of the technology that’s at the heart of the European Union’s climate goals.
Competition is heating up among makers of the machines to capture a wave of orders that will make up the EU’s first generation of utility-scale green hydrogen production funded by government subsidies.
Electrolyzers are the machines that use electricity to separate hydrogen out of water. The clean-burning gas could then be used to replace fossil fuels in a wide variety of applications such as heavy industry, shipping and aviation.
Green Hydrogen Systems has raised €28m in investments in a bid to meet the accelerating demand for electrolyser capacity.
The funds will enable the Danish company to scale-up its existing operations and move to larger facilities and a larger organisation with added resources and competencies along the full value chain of the company.
Green Hydrogen Systems CEO Sebastian Koks Andreassen said, “There is an unprecedented momentum in the market for green hydrogen supported by industrial demand and political decisions to sharply increase installed hydrogen capacity in the coming years.”
“The additional funds enable us to scale-up our existing production facilities to meet the surging demand. The investment from A. P. Moller Holding is a vote of confidence in our company and the incredible market potential we are looking into.”
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(Bloomberg) Danish electrolyzer startup Green Hydrogen Systems A/S raised 28 million euros ($34.3 million) to scale up production of the technology that’s at the heart of the European Union’s climate goals.
Competition is heating up among makers of the machines to capture a wave of orders that will make up the EU’s first generation of utility-scale green hydrogen production funded by government subsidies.
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Electrolyzers are the machines that use electricity to separate hydrogen out of water. The clean-burning gas could then be used to replace fossil fuels in a wide variety of applications such as heavy industry, shipping and aviation.