LEI: 213800PMTT98U879SF45
20
November 2024
HydrogenOne Capital Growth plc
('HydrogenOne' or the 'Company')
Sunfire awarded a new 50 MW
electrolyser contract
HydrogenOne Capital Growth plc, the
first London-listed fund investing in clean hydrogen for a positive
environmental impact, is pleased to note that its portfolio
company Sunfire GmbH ("Sunfire") has
announced a new 50-megawatt (MW) electrolyser contract with
Ren-Gas, Finland's hydrogen project developer, at their plant in
Tampere.
The equipment delivery will consist
of five 10-MW pressurised alkaline electrolysis modules,
representing a leading technology in the hydrogen industry. Sunfire
will be responsible for the design, production, testing, delivery,
supervision of installation and commissioning, and performance
testing of the equipment. This comprehensive scope ensures that the
project benefits from Sunfire's cutting-edge technology and
expertise at every stage, from initial design to final performance
validation.
The Tampere project is expected to
produce synthetic e-methane and green hydrogen to be used in the
heavy road transportation sector and Finnish district heating. The
project is currently in feasibility phase, having received an
environmental permit.
As at 30 September 2024,
HydrogenOne's investment in Sunfire represented 25% of the
Company's NAV.
Dr
JJ Traynor, Managing Partner of HydrogenOne Capital LLP, the
Company's investment adviser, commented: "This marks another major achievement for Sunfire, HGEN's
largest holding, with contracts announced year-to-date totalling
over 200 MW. This follows Sunfire's successful funding round, which
totalled more than EUR 500 million over the last 12 months. Once
the Tampere project reaches a Final Investment Decision, Sunfire's
world-leading advanced pressurised alkaline electrolyser technology
is expected to play a pivotal role in converting renewable
electricity into green hydrogen as part of the e-methane
production, underscoring the key role of electrolysis in the energy
transition."
Nils Aldag, Sunfire CEO, stated: "We're proud to provide our pressurized alkaline electrolyser
technology for Ren-Gas's Tampere e-methane plant. Our advanced
solution is designed to deliver efficient and reliable hydrogen
production at scale, ensuring that Ren-Gas meets its ambitious
sustainability targets. This partnership marks a significant step
forward in establishing Europe's leadership role in the green
hydrogen sector."
Saara Kujala, Ren-Gas CEO, added: "Following a thorough analysis and selection process, we are
pleased to announce the selection of Sunfire as our electrolysis
equipment supplier for our Tampere project. Throughout the
selection process, we closely collaborated with Sunfire, whose
capabilities and commitment to green hydrogen production are
exceptional. Our cooperation serves as a tangible example of
European hydrogen industry collaboration, demonstrating our shared
interest in advancing the European hydrogen sector."
- Ends -
Notes
For further information, please
visit www.hydrogenonecapitalgrowthplc.com
or contact:
|
HydrogenOne Capital
LLP - Investment
Adviser
|
Tel: +44 (0) 20 3830 8231
|
|
JJ Traynor
Richard Hulf
Eva Roberts
|
|
|
Barclays Bank PLC - Corporate
Broker
Dion Di Miceli
Stuart Muress
James Atkinson
|
Tel: +44 (0) 20 7623 2323
BarclaysInvestmentCompanies@barclays.com
|
|
Burson Buchanan - Financial
PR
Henry Harrison-Topham
Henry Wilson
Samuel Adams
|
Tel:
+44 (0) 20 7466 5000
Email: HGEN@buchanancomms.co.uk
|
About HydrogenOne
HydrogenOne is the first
London-listed hydrogen fund investing in clean hydrogen for a
positive environmental impact. The Company was launched in 2021
with an investment objective to deliver an attractive level of
capital growth by investing in a diversified portfolio of hydrogen
and complementary hydrogen focused assets. INEOS Energy is a
strategic investor in HydrogenOne. The Company is listed on the
London Stock Exchange's main market (ticker code: HGEN). The
Company is an Article 9 climate impact fund with an ESG policy
integrated in investment decisions and asset monitoring.
The Company's Investment
Adviser, HydrogenOne Capital LLP (FRN: 954060), is an appointed
representative of Thornbridge Investment Management LLP (FRN:
713859) which is authorised and regulated by the Financial Conduct
Authority.
About Sunfire
Sunfire is a global leader in the
production of industrial electrolysers based on pressurised
alkaline and solid oxide (SOEC) technologies. With its electrolysis
solutions, Sunfire is addressing a key challenge of today's energy
system: Providing renewable hydrogen and syngas as climate-neutral
substitutes for fossil energy. Sunfire's innovative and proven
electrolysis technology enables the transformation of
carbon-intensive industries that are currently dependent on
fossil-based oil, gas, or coal. The company employs more than 650
people located in Germany and Switzerland.
IMPORTANT NOTICE
This announcement contains (or may contain) certain
forward-looking statements with respect to certain of the Company's
plans and/or the plans of one or more of its investee companies and
their respective current goals and expectations relating to their
respective future financial condition and performance and which
involve a number of risks and uncertainties. The Company cautions
readers that no forward- looking statement is a guarantee of future
performance and that actual results could differ materially from
those contained in the forward-looking
statements.