WAM invests in Swedish clean-tech firm Plagazi

Germany-based Wermuth Asset Management GmbH (WAM) has made an equity investment in Plagazi, seeking to contribute to the Swedish green hydrogen technology firm’s growth.

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. The company, which specialises in the development and construction of plasma gasification plants, is currently working on various projects across Europe.

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One of the sites in the Goteborg-based firm’s pipeline is the Köping Hydrogen Park in Sweden. The planned facility is expected to produce 12,000 tons of green hydrogen annually from 66,000 tons of unrecyclable waste and provide the municipality with 10 MW of district heating.

WAM’s investment includes equity from its second fund, the Green Growth Fund 2 (GGF2), with the aim to add additional capital from the asset manager’s upcoming Clean Industrialization Fund (GGF3). The latter seeks to raise EUR 1 billion (USD 1.09bn) to support the growth of portfolio companies and their environmentally disruptive technologies, according to the press release published today.

“Plagazi’s waste-to-hydrogen technology shows incredible potential given its location- and feedstock-agnostic approach, and its roles as waste-recycler, hydrogen-producer, and carbon-capturer. We look very much forward to shaping the future of the European circular hydrogen economy together with Plagazi,” said WAM’s managing director and founder Jochen Wermuth.

(EUR 1 = USD 1.097)