TES raises EUR 140m to advance e-NG projects

Tree Energy Solutions (TES), a Netherlands-based green energy company focused on electric natural gas (e-NG) derived from green hydrogen, has raised EUR 140 million (USD 151.7m) in an upsized third funding round to advance the development of its global portfolio of green energy production and import projects.

TES seeks to deploy giga-scale projects using solar and wind energy in low-cost areas to produce green hydrogen which is combined with climate-neutral carbon dioxide and transformed into e-NG. The company, which is present in North America, the Middle East, Asia and Australia, counts among its partners TotalEnergies, Osaka Gas, Toho Gas, Tokyo Gas, Fortescue and ADNOC.

Do you know we have a daily hydrogen newsletter? Subscribe here for free!

TES is currently also developing a green energy hub in the German port of Wilhelmshaven. In November, the Brussels-based firm unveiled a green hydrogen project in the Canadian province of Quebec, called Projet Mauricie and involving 1 GW of renewables capacity.

The fundraising transaction attracted participation from Azimut Group as a new investor, along with existing backers Fortescue, E.ON, HSBC, O.G. Energy and Zhero, among others.

“The fundraising is an important step on our journey to deliver affordable e-NG and hydrogen. This newly raised capital will be used to advance the development of our upstream and downstream e-NG projects internationally,” said Marco Alvera, co-founder and CEO of TES.

(EUR 1 = USD 1.084)