BNP Paribas SA and Canadian Imperial Bank of Commerce (CIBC) have pledged their support to back a major hydrogen project in Lubmin, Germany. The project, led by startup HH2E AG, is moving closer to finalizing an investment decision on their 100-megawatt green hydrogen production plant. BNP Paribas is onboard as the debt advisor to form a financing syndicate, while CIBC is managing the equity raise process. The firm has requested loans exceeding €200 million for the project. Green hydrogen, produced from renewable sources, is crucial for Europe's climate goals and transitioning industries like steel away from fossil fuels. Despite uncertainties surrounding hydrogen pricing and transportation, government initiatives are propelling investments. Germany, in its pursuit of achieving net zero emissions by 2045, is investing heavily in hydrogen infrastructure. HH2E aims to attract larger investors to scale up to a gigawatt-scale project, with Equinor ASA from Norway engaged in advanced discussions. The current investors of HH2E include Foresight Group Holdings Ltd and HydrogenOne Capital Growth Plc. The project's financial viability is bolstered by the government's push to kick-start the hydrogen market, ensuring its place in Germany's ambitious energy transition.