Trafigura takes control of European green hydrogen JV

Physical commodities trader Trafigura Group Pte Ltd has agreed to take control of its Europe-focused joint venture with Zurich-based green hydrogen ecosystem developer H2 Energy Holding AG, it was announced on Tuesday.

Trafigura said in a statement it is increasing its interest in H2 Energy Europe AG to a majority stake amid plans to ramp up the development of large-scale green hydrogen production projects and mid- and downstream hydrogen supply and distribution infrastructure in Europe.

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H2 Energy Europe’s portfolio includes a 1-GW green hydrogen project in Esbjerg, Denmark, a final investment decision for which is expected next year, and a 20-MW facility, planned to be built within the port of Milford Haven in South Wales.

Following the latest transaction, the founders of H2 Energy Holding will retain a minority stake in the JV. Trafigura is also a minority investor in the holding.

"As we move forward, our primary objective is to fortify our green hydrogen eco-system, focusing on infrastructural engineering projects, the development of fuel cell applications, and the development and commercialization of key hydrogen equipment,” commented Rolf Huber, founder of H2 Energy.