HydrogenOne Capital Growth PLC on Tuesday said that its portfolio company, Gen2 Energy AS, has signed a deal for green hydrogen delivery.
The London-listed fund, which invests in clean hydrogen for a positive environmental impact, said that Gen2 has signed a transaction term sheet with SEFE Securing Energy for Europe GmbH for the delivery of green hydrogen to Germany.
Under the agreement, Gen2 will export green hydrogen from their first planned production plant in Mosjoen, Norway to Germany, in the event that the plant proceeds.
Gen2 is a green hydrogen project developer with a pipeline of over 900 megawatts. Its flagship project at Mosjoen is a planned 120 megawatt compressed hydrogen facility targeting a final investment decision in 2024, and production in 2026.
‘We are excited about what we have achieved with SEFE since the MoU was signed some months ago. This term sheet not only reinforces our commitment to providing green hydrogen but also represents a key step towards securing the necessary investments to make our project a reality,’ said Gen2’s chief executive officer, Jonas Meyer.
HydrogenOne shares were trading 1.2% higher at 57.80 pence each in London on Tuesday afternoon.
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