As at 30 September 2024, HydrogenOne Capital Growth’s largest investment was in Sunfire GmbH. The trust’s stake represented 25% of its NAV.
Sunfire has just announced a new 50-megawatt (MW) electrolyser contract with Ren-Gas, Finland’s hydrogen project developer, at its plant in Tampere.
Sunfire will deliver five 10-MW pressurised alkaline electrolysis modules (which HGEN’s manager says is a leading technology in the hydrogen production industry). Sunfire will be responsible for the design, production, testing, delivery, supervision of installation and commissioning, and performance testing of the equipment. This comprehensive scope ensures that the project benefits from Sunfire’s cutting-edge technology and expertise at every stage, from initial design to final performance validation.
The Tampere project is expected to produce synthetic e-methane and green hydrogen to be used in the heavy road transportation sector and Finnish district heating. The project is currently in feasibility phase, having received an environmental permit.
The project brings the total of contracts announced over 2024 to over 200 MW. Sunfire has been able to achieve this thanks to its last successful funding round, which added up to over €500m over the last 12 months.
Nils Aldag, Sunfire CEO, stated: “We’re proud to provide our pressurized alkaline electrolyser technology for Ren-Gas’s Tampere e-methane plant. Our advanced solution is designed to deliver efficient and reliable hydrogen production at scale, ensuring that Ren-Gas meets its ambitious sustainability targets. This partnership marks a significant step forward in establishing Europe’s leadership role in the green hydrogen sector.”
Saara Kujala, Ren-Gas CEO, added: “Following a thorough analysis and selection process, we are pleased to announce the selection of Sunfire as our electrolysis equipment supplier for our Tampere project. Throughout the selection process, we closely collaborated with Sunfire, whose capabilities and commitment to green hydrogen production are exceptional. Our cooperation serves as a tangible example of European hydrogen industry collaboration, demonstrating our shared interest in advancing the European hydrogen sector.”
[This is another bit of good news after the disappointment of HH2E, underscoring the potential for this portfolio to prosper even after the odd failure of an investment.]
HGEN : HydrogenOne’s Sunfire investment gets new 50MW electrolyser contract
