Belgian hydrogen hub developer TES pockets EUR 65m for new projects

Belgian green hydrogen supplier Tree Energy Solutions has completed a funding round that has brought it EUR 65 million (USD 66.5m) in fresh capital to develop a bunch of renewable hydrogen projects across Europe by 2030.

The fundraising, the second one for the company, has attracted global financial and energy players such as German energy major E.on SE (ETR:EOAN), UK lender HSBC Holdings plc (LON:HSBA), Italy’s UniCredit (BIT: UCG) and UK ship management firm Zodiac Maritime.

Tree Energy Solutions will earmark the raised funds for green hydrogen projects. The company is developing a scheme at the German port of Wilhelmshaven, where it aims to create a production hub for 5.5 million tonnes of green hydrogen. The energy hub will deliver 250 TWh of green gas each year.

“This newly raised capital will be used to bring us to FID by end of 2023,” said CEO Marco Alvera.

The Belgian company’s plan is to replicate the model to set up similar hubs at other 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.

(EUR 1.0 = USD 1.024)

Choose your newsletter by Renewables Now. Join for free!