Trafigura has revealed yesterday that struck a deal with Zürich-based H2 Energy Europe AG to become majority owner, as raises its commitment to green hydrogen.

The giant commodities group wants to increase its shareholding in H2 Energy Europe AG and become a majority owner, as this move will allow H2 Energy Europe to focus on developing large-scale green hydrogen projects and distribution networks across Europe.

Furthermore, H2 Energy Holding AG will focus on its core business and technology development.

Trafigura said development plans “ramp up” for large-scale green hydrogen production projects.

After this announcement, H2 Energy Holding AG’s founders will retain a minority ownership and continue to contribute “their extensive knowledge and expertise to the company,” as Trafigura explains.

In addition, Trafigura retains its support for and minority equity interest in H2 Energy Holding AG, which will continue to focus on developing green hydrogen eco-systems and green hydrogen technologies.

Rolf Huber, founder of H2 Energy remarked: “This is a welcome development that strategically positions both companies for future growth and investment. As we move forward, our primary objective is to fortify our green hydrogen eco-system, focusing on infrastructural engineering projects, the development of fuel cell applications, and the development and commercialization of key hydrogen equipment.”

As it is revealed, the commodities group will become the majority owner in H2 Energy Europe, which is planning to launch hydrogen production facilities in Denmark and Wales.

Specifically, the plans to build a 1 GW green hydrogen facility in Esbjerg, Denmark are progressing, with COWI commissioned in June this year to conduct the front-end engineering design for the production plant. A final investment decision is expected in 2024.

Furthermore, in South Wales H2 Energy Europe has recently submitted a formal planning application to construct a 20 MW green hydrogen production facility within the port of Milford Haven in South Wales, with local company InSite Technical Services currently undertaking the FEED study.

The project has reached the final negotiation stage for funding under the UK government’s Hydrogen Business Model and Net Zero Hydrogen Fund.

Subject to government support, the facility should be commissioned within two years.