- A funding round that brought the company EUR 65 million in fresh capital concluded\
- The fund is to be used for the development of renewable hydrogen projects across Europe by 2030
Tree Energy Solutions, a Belgian green hydrogen supplier, has concluded a funding round that brought the company EUR 65 million in fresh capital. The fund will be used to develop renewable hydrogen projects across Europe by 2030.
The fundraising, which is the second by the company, got the interest of global energy and financial player, including the German energy major E.ON SE, UK lender HSBC Holding plc, Italy’s UniCredit and the UK ship management firm Zodiac Maritime.
The funds raised will be used for green hydrogen projects. Tree Energy Solutions is developing a project at Wilhelmshaven in Germany, a unit where the company plans to create a production hub for 5.5 million tonnes of green hydrogen. The hub will supply 250 TWh of green gas every year.
“This newly raised capital will be used to bring us to FID by the end of 2023,” said CEO Marco Alvera.
The company plans to use the same model to set up similar hubs at European ports, aiming to supply green gas and hydrogen on an industrial scale. Additional energy supply and import hub projects are under development by the firm in Germany, Belgium, the Netherlands, France, the Middle East, Canada and the US.