Hy24 Invests $50 Million in StormFisher Hydrogen for North American Clean Fuel Projects
Key Ideas
- Hy24 commits $50 million to StormFisher Hydrogen for clean fuel projects in the U.S. and Canada, aiming for 1.8 GW renewable capacity by 2030.
- The partnership accelerates StormFisher's projects, supporting their export ambitions to Europe and Asia, reinforcing North America's clean fuel infrastructure.
- StormFisher's e-Fuel facilities will create around 50 permanent jobs per site, contributing to local communities and fostering economic development.
- The investments from Hy24 and ARC Financial Corp. position StormFisher Hydrogen to become a key player in the low-carbon fuels market, promoting energy resilience and independence.
StormFisher Hydrogen has secured a $50 million commitment from Hy24's Clean Hydrogen Infrastructure Fund to boost their clean fuel projects in North America. Their pipeline includes facilities in the U.S. and Canada with a renewable capacity of up to 1.8 GW by 2030, focusing on e-Fuels like green hydrogen and others. This investment aims to help StormFisher reach final investment decisions and expand into European and Asian markets. With a strong offtaker strategy, the company plans to lead in e-Fuel production, creating jobs and strengthening America's position in the energy transition. The partnership with Hy24 and a previous investment from ARC Financial Corp. will propel StormFisher Hydrogen to deploy billions of dollars over the next decade, supporting local communities and paving the way for North America to be a key global supplier of low-carbon hydrogen products. The collaboration signifies a significant step towards decarbonizing hard-to-abate industries and enhancing energy security, while driving economic growth and job creation in the region.
Topics
South America
Clean Energy
Investment
Energy Transition
Job Creation
Renewable Fuels
Project Development
Economic Growth
International Markets
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