BNP Paribas SA and Canadian Imperial Bank of Commerce (CIBC) have committed to supporting one of Germany’s largest hydrogen projects by backing startup HH2E AG. The project aims to establish a 100-megawatts green hydrogen production plant in the Baltic port of Lubmin, with plans for a final investment decision by October. The financial support from banks indicates confidence in the startup's financial viability. HH2E has initiated processes for debt financing and equity raising, targeting over €200 million in loans. Green hydrogen, produced from renewable energies, is considered essential for Europe's climate targets and transitioning industries like steel away from fossil fuels. The project's success is attributed to government commitments to boost the hydrogen market, with Germany investing significantly in hydrogen infrastructure to achieve net zero emissions by 2045. HH2E seeks to attract larger investors to scale up to one gigawatt capacity by the end of the decade, with interest from companies like Equinor ASA. Current investors include UK private equity firm Foresight Group Holdings Ltd and HydrogenOne Capital Growth plc. Despite challenges in the hydrogen market, the project's progress reflects a positive outlook towards green technology and sustainable energy solutions.