Global renewable hydrogen producer Hy2gen has raised €47m ($53.5m) from existing investors to accelerate the development of its portfolio of green hydrogen, e-fuels, and green ammonia projects across Europe, Canada and South America.
The capital raise, announced today (29 April), was led by Hy24’s Clean Hydrogen Infrastructure Fund alongside Technip Energies and founding investor BenDa.
The financing is expected to support growth in a sector that still faces challenges including high production costs, regulatory uncertainty, and the need for long-term offtake agreements to secure project viability.
Hy2gen said the funding would help move its most advanced projects towards final investment decision and then construction. Its current portfolio includes green ammonia, e-methanol, e-methane and e-SAF projects targeting hard-to-abate sectors such as shipping, aviation and fertilisers.
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