Trafigura amplifies green hydrogen initiatives
Trafigura Group Pte is intensifying its commitment to green hydrogen, as evidenced by its increased stake in H2 Energy Europe AG. The global commodities group has become the majority owner, marking a significant step in its journey to bolster green hydrogen production and distribution in Europe.
The agreement sees Trafigura augmenting its share, while the founders of H2 Energy Holding AG retain minority ownership, continuing their contribution of expertise to the company. This strategic move aligns with the ongoing development of large-scale green hydrogen projects and the expansion of mid- and downstream hydrogen supply infrastructure.
Rolf Huber, founder of H2 Energy, expressed optimism about the strategic positioning that this development promises for both companies. The collaboration aims to strengthen the green hydrogen ecosystem, focusing on infrastructural engineering, fuel cell application development, and the commercialisation of essential hydrogen equipment.
A 1 gigawatt (GW) green hydrogen facility is in the planning stages in Esbjerg, Denmark, with a final investment decision anticipated in 2024. In South Wales, a 20 megawatt (MW) green hydrogen production facility is proposed within the port of Milford Haven. The project, currently in the final negotiation stage for funding under the UK government’s initiatives, is expected to be operational within two years if approved.
Julien Rolland, head of strategic projects and investments for Trafigura, highlighted the dual focus of the collaboration. H2 Energy Europe is centered on developing extensive green hydrogen projects and distribution networks, while H2 Energy Holding AG zeroes in on technology development and the green hydrogen ecosystem.
The partnership underscores a shared vision of making green hydrogen a foundational element of the energy system. It reflects a broader industry trend of pivoting towards sustainable energy solutions, aligning with global efforts to mitigate climate change and transition to a low-carbon economy.