HySynergy receives IPCEI status
Herning, Denmark, 21 September 2022 – Today, the European Commission granted IPCEI status to the HySynergy 2.0 project led by Everfuel A/S. The IPCEI status enables public funding of the second phase of the HySynergy facility which is developed with Crossbridge Energy Fredericia as a partner. HySynergy 2.0 will produce green hydrogen used to decarbonise industrial processes and transportation.
The project was last year shortlisted by the Danish government as one of two Danish power-to-X projects eligible for public funding if they received IPCEI status by the Commission. Both projects have now received Important Projects of Common European Interest (IPCEI) status as projects that contribute to job creation and sustainable economic growth in the EU. The Danish government has allocated a total of DKK 850 million of funding for the two shortlisted projects.
“The European Commission’s approval of HySynergy 2.0 is a key contribution to the commercialisation of green hydrogen and decarbonising of industry and transport in the EU. We are very pleased with the recognition of the project and the opportunities that comes with the IPCEI status. It is a testimony to the maturity of the HySynergy PtX project and the scale of impact it will have. IPCEI funding will also be a major milestone as we progress towards final investment decision,” says Jacob Krogsgaard, the CEO of Everfuel.
The Commission today approved up to EUR 5.2 billion of public support by thirteen Member States as part of this second IPCEI round to support research and innovation, first industrial deployment and construction of relevant infrastructure in the hydrogen value chain. IPCEI Hy2Use, includes 29 companies with activities in one or more member states participating in 35 projects. The public funding is expected to unlock additional EUR 7 billion in private investments. Further information amount of aid to individual participants will be made available in due course.
The first phase of the HySynergy project is a 20 MW electrolyser facility in Fredericia, Denmark, which is expected to produce the first hydrogen late this year. HySynergy 2.0, which has now been granted IPCEI status, will extend the existing facility with 300 MW electrolyser capacity. Phase II of the project will consist of three sections of 100 MW each. The public funding that follows the IPCEI status is connected to building the first 100 MW of the second phase.
The HySynergy project aims at producing large quantities of green hydrogen to be used in industry processes by the adjacent Crossbridge Energy refinery and other partners as well as for mobility purposes at Everfuel stations.
“HySynergy Phase II is a giant milestone and key to the new and greener future for energy production in Denmark. Hydrogen opens the door and HySynergy Phase II accelerate this process,” says Finn Schousboe, the CEO Crossbridge Energy A/S.
By 2025, when the 300 MW electrolyser facility is established, HySynergy will facilitate an annual reduction of up to 500,000 tonnes of carbon emissions from the mobility sector and the industry, which corresponds to 11% of the total carbon emissions from the Danish land-based transport sector.
For additional information, please contact:
Lea Vindvad Hansen, Investor Relations & Communications Manager, Everfuel, [email protected]
About Everfuel | www.everfuel.com
Everfuel is making green hydrogen for zero emission mobility commercially available across Europe, offering competitive all-inclusive hydrogen supply- and fueling solutions. We own and operate green hydrogen infrastructure and partner with vehicle OEMs to connect the entire hydrogen value chain and seamlessly provide hydrogen fuel to enterprise customers under long-term contracts. Green hydrogen is a 100% clean fuel made from renewable energy and key to electrification of the transportation sector in Europe and a sustainable future. We are a young ambitious company, headquartered in Herning, Denmark, and with activities in Norway, Denmark, Sweden, The Netherlands, Germany and Belgium, and a plan to grow across Europe. Everfuel is listed on Euronext Growth in Oslo under EFUEL.