Hy24's Investment Boosts E-Fuels Development in North America
Key Ideas
- Hy24 invests €50 million in StormFisher Hydrogen to support the development of clean fuel production sites across the US and Canada.
- StormFisher Hydrogen's projects aim to have a total installed renewable capacity of up to 1.8 GW by 2030, producing e-fuels like e-methanol, e-methane, ammonia, and green hydrogen.
- The funding will help advance StormFisher Hydrogen's projects towards final investment decisions, with its North Texas project set to begin operations in early 2026.
- The investment is Hy24's first in North America and aims to drive StormFisher Hydrogen's export ambitions to European and Asian markets, contributing to the global low-carbon fuels market.
Hy24, through its dedicated infrastructure fund, is investing €50 million in StormFisher Hydrogen to support the development of clean fuel production sites in the United States and Canada. These projects, with a planned total renewable capacity of 1.8 GW by 2030, will focus on producing e-fuels like e-methanol, e-methane, ammonia, and green hydrogen. StormFisher Hydrogen, headquartered in Houston and Toronto, operates in Texas, Kansas, Minnesota, and Ontario. Their North Texas project, with an annual e-methanol production capacity exceeding 120,000 tonnes, is expected to start operations in early 2026.
This investment marks Hy24's first direct investment in North America, aiming to propel StormFisher Hydrogen's growth and export ambitions to European and Asian markets. President and CEO of StormFisher Hydrogen, Judson Whiteside, highlighted the importance of these projects in enhancing America's position in the energy transition, strengthening energy resilience, and promoting domestic energy independence. The sentiment towards hydrogen in the article is positive, emphasizing the potential for the United States to lead the global low-carbon fuels market.
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Topics
Investing
Renewable Energy
Infrastructure
Investment
Energy Transition
Business Expansion
International Markets
Low Carbon Fuels
Clean Fuel Production
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