Hy24 Invests $50M in StormFisher Hydrogen for Clean Fuel Projects in North America
Key Ideas
- Hy24's Clean Hydrogen Infrastructure Fund invests $50m in StormFisher Hydrogen to support clean fuel production projects in North America.
- The investment will accelerate StormFisher Hydrogen's project pipeline, aiming for up to 1.8GW of renewable capacity by 2030 in the US and Canada.
- StormFisher Hydrogen plans to deploy billions over the next decade, focusing on e-fuel projects and expanding to European and Asian markets.
- Partnership with Hy24 and ARC Financial strengthens StormFisher Hydrogen's position as a leader in clean fuel development and deployment.
Hy24's Clean Hydrogen Infrastructure Fund has made a substantial investment of $50m in StormFisher Hydrogen, a company specializing in the development and production of clean fuels. StormFisher Hydrogen focuses on green hydrogen-derived e-fuels like e-methane and e-methanol through large-scale facilities. This investment will aid in expediting StormFisher Hydrogen's project pipeline, including ventures in North America with up to 1.8GW of renewable capacity by 2030.
Pierre-Etienne Franc, the co-founder and CEO of Hy24, expressed satisfaction in supporting StormFisher Hydrogen's growth, emphasizing the company's potential to expand into European and Asian markets. The collaboration aims to contribute to North America's energy security, economic prosperity, and global leadership in the clean energy sector.
Judson Whiteside, president and CEO of StormFisher Hydrogen, highlighted the partnership's positive impact on project advancement, job creation, and international molecule exports. The company foresees significant capital deployment over the next decade, building on previous investments and the current support from Hy24 and ARC Financial.
Brian Boulanger, CEO of ARC Financial, praised the partnership's expertise in hydrogen and e-fuels, stressing the commitment to delivering low-carbon products at scale. The collective efforts of the involved entities, with a focus on clean energy and sustainable development, position StormFisher Hydrogen as a key player in the evolving market of clean fuel solutions.