KGAL to partner with EIT InnoEnergy on green hydrogen investments

German investment and asset manager KGAL GmbH & Co KG will partner with EU-backed sustainable energy investor EIT InnoEnergy to invest in hydrogen projects in Europe.

As green hydrogen is expected to play a key role in achieving climate targets and electrolysis capacity is anticipated to grow rapidly, the sector is becoming important to KGAL.

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

“An important factor for investment success is access to promising projects, which is why this cooperation is so valuable for us,” Michael Ebner, managing director of sustainable infrastructure at KGAL Investment Management, said in an announcement on Wednesday.

EIT InnoEnergy is a leading innovation investor with around 180 portfolio companies.

KGAL will make investments in selected hydrogen projects from the EIT InnoEnergy portfolio that have gone through the early stage. It will provide fresh capital and expertise in greenfield investments and will partner with EIT InnoEnergy to bring the projects to commercial operation.

Aided by Breakthrough Energy, EIT InnoEnergy has set up the European Green Hydrogen Acceleration Center (EGHAC), which is aimed at developing a European value chain for green hydrogen.