Zurich and Geneva, 10 October 2023: Trafigura Group Pte has agreed with H2 Energy Holding AG founders to increase its shareholding in H2 Energy Europe AG (“the Company”) to become majority owners, as development plans ramp up for large-scale green hydrogen production projects and mid- and downstream hydrogen supply and distribution infrastructure in Europe. H2 Energy Holding AG’s founders retain a minority ownership and will continue to contribute their extensive knowledge and expertise to the Company.
In addition, Trafigura retains its support for and minority equity interest in H2 Energy Holding AG, which will continue to focus on developing green hydrogen eco-systems and green hydrogen technologies.
Rolf Huber, Founder of H2 Energy remarked: "This is a welcome development that strategically positions both companies for future growth and investment. As we move forward, our primary objective is to fortify our green hydrogen eco-system, focusing on infrastructural engineering projects, the development of fuel cell applications, and the development and commercialization of key hydrogen equipment. Collaborating closely with Trafigura, we aim to leverage each other's expertise to advance our shared goal of making green hydrogen a cornerstone of the energy system.”
Julien Rolland, Head of Strategic Projects and Investments for Trafigura said: “Today’s announcement allows H2 Energy Europe to focus on developing large-scale green hydrogen projects and distribution networks across Europe, while H2 Energy Holding AG will focus on its core business and technology development. Trafigura and H2 Energy Holding AG will continue to co-operate closely and benefit from each partner’s respective expertise.”
Plans to build a 1 GW green hydrogen facility in Esbjerg, Denmark are progressing, with COWI commissioned in June this year to conduct the front-end engineering design (FEED) for the production plant. A final investment decision is expected in 2024.
In South Wales, H2 Energy Europe has recently submitted a formal planning application to construct a 20 MW green hydrogen production facility within the port of Milford Haven in South Wales, with local company InSite Technical Services Ltd currently undertaking the FEED study. The project has reached the final negotiation stage for funding under the UK government’s Hydrogen Business Model and Net Zero Hydrogen Fund: Electrolytic Allocation Round 2022, with final projects expected to be announced this year. Subject to government support, the facility should be commissioned within two years, using domestic renewable energy to produce green hydrogen for shipping and road transport, as a chemical feedstock and to provide power for industrial use across the South Wales Industrial Cluster.
For further information please contact:
H2 Energy Press Office: +41 (0) 43 343 9000 or email@example.com
Trafigura’s Press Office: +41 (0) 22 592 4528 or firstname.lastname@example.org
Notes for Editors
About H2 Energy Holding
H2 Energy aims to play an active role in reducing climate change by making green hydrogen a cornerstone of the energy system. Founded in 2014, H2 Energy is a Zurich-based company that develops, engineers, and invests in its green hydrogen eco-system. The company is involved in the entire hydrogen value chain, offering know-how and engineering each step of the way. The company draws on many years of experience, particularly in owning several hydrogen products, establishing hydrogen refueling stations and in the engineering of hydrogen fuel cell applications.
About H2 Energy Europe
In 2020, Trafigura announced that it would invest in H2 Energy and formed a joint venture, H2 Energy Europe, to build hydrogen eco-systems in Europe. In October 2023, Trafigura became the majority owner of H2 Energy Europe. Major projects covering different parts of the hydrogen value chain include working towards a final investment decision on a 1GW scale green hydrogen project in Esbjerg, Denmark converting offshore wind power and a 20MW green hydrogen project in Milford Haven, South Wales.
Trafigura is a leading commodities group, owned by its employees and founded 30 years ago. At the heart of global supply, Trafigura connects vital resources to power and build the world. We deploy infrastructure, market expertise and our worldwide logistics network to move oil and petroleum products, metals and minerals, gas and power from where they are produced to where they are needed, forming strong relationships that make supply chains more efficient, secure and sustainable. We invest in renewable energy projects and technologies to facilitate the transition to a low-carbon economy, including through joint ventures H2Energy Europe and Nala Renewables.
The Trafigura Group also comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, and our Impala Terminals joint venture. The Group employs over 12,000 people and is active in 156 countries.