Technip Energies backed the hydrogen fuel producer's newly announced round, as the gas continues to make inroads into the energy transition roadmap.
Hy2gen, a Germany-headquartered producer of green hydrogen-based fuels, raised €200m ($227m) today from investors including energy engineering firm Technip Energies, highlighting the increasing popularity of hydrogen in the new energy mix.
Hy24, a hydrogen investment vehicle formed by private investment firm Ardian and investment manager FiveT Hydrogen, led the round, which also featured Caisse de dépôt et placement du Québec and Mirova.
Founded in 2017, Hy2gen produces hydrogen for environmentally friendly fuels to be used across air, maritime and ground transport as well as for industrial applications. It claims the round is the largest to date for a green hydrogen company.
The hydrogen market has been growing at an accelerating clip as it is widely seen as a crucial piece of the decarbonisation puzzle, applicable to areas such as energy generation, transport and industrial manufacturing, as an alternative to fossil fuels.
Whereas the process of creating hydrogen has typically used…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
