Boosting Clean Fuel Production: Hy24 Invests $50 Million in StormFisher Hydrogen
Key Ideas
  • StormFisher Hydrogen secures $50 million investment from Hy24's Clean Hydrogen Infrastructure Fund to enhance clean fuel production in North America.
  • The partnership aims to expedite project development, make investment decisions, and promote the shift towards low-carbon energy solutions.
  • The company's projects in the US and Canada will convert 1.8 GW of renewable energy into various e-fuels like green hydrogen and e-methanol.
  • With investments from Hy24 and ARC Financial Corp., StormFisher plans to create around 50 permanent full-time jobs per site, deploying billions of dollars over the next decade.
StormFisher Hydrogen, a clean fuels producer, has received a $50 million investment from Hy24's Clean Hydrogen Infrastructure Fund to enhance its clean fuel production projects in North America. This partnership is aimed at accelerating project pipelines, reaching final investment decisions (FIDs), and facilitating the transition to low-carbon energy solutions. The company's current projects span across the United States, including Texas, Kansas, and Minnesota, as well as the Ontario region in Canada. These projects will have the capacity to convert up to 1.8 GW of renewable energy from sources like solar and wind into RFNBO e-fuels such as green hydrogen, e-methanol, green ammonia, and e-methane. Notably, one of the most advanced projects, situated in North Texas, is anticipated to reach FID in early 2026 with a significant e-methanol production capacity. StormFisher Hydrogen has also welcomed various industries to participate in its Expression of Interest for procuring clean methanol volumes. The company aims to play a crucial role in decarbonizing hard-to-abate sectors like maritime, aviation, and chemicals, positioning the United States as a prominent supplier in the global market. With investments from Hy24 and ARC Financial Corp., StormFisher plans to deploy several billion dollars of capital over the next decade, with each clean fuel production facility expected to create around 50 permanent full-time jobs. This partnership marks Hy24's first direct investment in North America, supporting the growth of clean fuel deployment in the region and aiding StormFisher Hydrogen's expansion into European and Asian markets. Pierre-Etienne Franc, Co-Founder and CEO of Hy24, expressed enthusiasm about the collaboration, emphasizing the potential of clean energy solutions in fostering energy security, economic growth, and trade leadership in North America.
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