Hy2gen AG has announced the successful completion of a €47 million funding round from its existing shareholders. The investment was led by Hy24—the world’s foremost low-carbon hydrogen asset manager through its Clean Hydrogen Infrastructure Fund—alongside Technip Energies, a major engineering and technology company, and BenDa, the family fund of Hy2gen’s Chairwoman Dana Kallasch.
This latest capital injection will be used to accelerate Hy2gen’s portfolio of renewable hydrogen and derivative projects across Europe, Canada, and South America. The funding will enable the company to advance to Final Investment Decision (FID) and prepare for the construction phase of its green hydrogen facilities. Hy2gen is actively developing industrial-scale production plants for renewable hydrogen, green ammonia, e-SAF, e-methane, and e-methanol using Power-to-X processes. These projects aim to support the decarbonization of sectors that are traditionally difficult to abate, such as shipping, aviation, and heavy industry.
Among Hy2gen’s most advanced projects is the “Courant” project in Canada, a renewable ammonia and ammonium nitrate plant with an estimated capital expenditure of €2 billion and a planned capacity of 300 MW. Construction is expected to begin by 2027. In Germany, Hy2gen has already started producing renewable hydrogen with its “Atlantis” plant, which went into operation in 2023. In Norway, the “Iverson” project is set to produce 200,000 tons of renewable ammonia annually, powered by hydropower. The company is also collaborating with H2V in France’s Fos-Marseille industrial basin on a 390 MW project with an investment of approximately €1.5 billion. This initiative will help decarbonize the European aviation sector by producing 75,000 tons of e-SAF.
Hy2gen’s CEO, Cyril Dufau-Sansot, emphasized that this funding round allows the company to take its projects to the next level. He noted that the demand for renewable hydrogen and its derivatives is rising due to the long-term economic need to cut industrial emissions. He highlighted the company’s past success in developing a global project portfolio and operating a small-scale production facility in Werlte, Germany, which now serves as a stepping stone toward full-scale industrial development.
Pierre-Etienne Franc, CEO of Hy24, praised Hy2gen’s ability to build a diversified and scalable portfolio of e-fuel and green ammonia projects across multiple continents. He underlined the importance of resilience and industrial readiness in today’s complex geopolitical and economic landscape, reaffirming Hy24’s support for Hy2gen’s long-term vision.
Arnaud Pieton, CEO of Technip Energies, confirmed the company’s continued commitment to supporting Hy2gen with its engineering expertise and integrated Power-to-X solutions through its subsidiary, Rely. He emphasized the need for cost-effective, scalable decarbonization technologies.
Dana Kallasch, Chairwoman of Hy2gen’s Supervisory Board and a long-term investor through BenDa, described the funding round as a milestone for both the company and the broader energy transition. She stressed the strategic importance of Hy2gen’s initiatives in creating a climate-resilient and sustainable global economy and reaffirmed BenDa’s dedication to the company’s growth and mission.
