EIB to support Plagazi’s green hydrogen project in Sweden

The European Investment Bank (EIB) has agreed to provide free-of-charge financial advisory support for the Koping Hydrogen Park (KHP) project developed by Swedish green hydrogen technology firm Plagazi at home.

“In a currently globally challenging financing climate for sustainable and renewable energy projects, this is a huge vote of confidence for the promising contributions that KHP and Plagazi will make in the hydrogen market once the project becomes operational,” Gustav Granberg, CEO of the Goteborg-based firm, noted in a statement on Tuesday.

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The KHP projects targets production capacity of 12,000 tonnes of green hydrogen annually from 66,000 tonnes of unrecyclable waste and provide the Koping municipality with 10 MW of district heating. It is expected to be one of the largest circular hydrogen production sites in Sweden and Europe.

Plagazi offers technology that can convert all types of waste, including non-recyclable, into green hydrogen through plasma gasification by exposing it to a temperature higher than 3,000°C. In November, the company secured an equity investment from Germany-based Wermuth Asset Management GmbH (WAM) to advance its growth.