Germany's electro-fuel developer Hy2gen Deutschland GmbH (Hy2gen) has announced that it has signed a Memorandum of Understanding (MoU) with Japan's Mitsui O.S.K. Lines Ltd (MOL), one of the world's largest shipping companies. The agreement includes a joint study of supply solutions using e-methanol as a maritime fuel.
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Founded in 2017 and based in Wiesbaden, Germany, Hy2gen AG is a global project developer, owner, and operator of renewable hydrogen and hydrogen derivative production facilities.
The company specializes in the entire product range – from renewable hydrogen to renewable ammonia and hydrogen-based e-fuels. The first plants will be built in France, Norway, Canada, Germany, and the United States (US).
In 2019, Swiss commodity trader, Trafigura, and other private investors took a position in Hy2gen’s first round of financing.
In early 2022, Hy2gen closed a further EUR 200 million from French technology and engineering firm, TechnipEnergies; Quebec pension fund, CDPQ; French sustainable investment manager, Mirova; and the EUR 2 billion Hy24 Clean Hydrogen Infrastructure Fund backed by Air Liquide, TotalEnergies, VINCI Concessions, Plug Power, Chart Industries, Baker-Hughes, and Airbus, among others – the largest green hydrogen-focused private capital raise to date.
An RFNBO methanol
This fuel will be produced as part of Hy2gen’s NAUTILUS project. Considering MOL’s global reputation, Hy2gen sees this agreement as another positive development towards becoming the leading company in the renewable fuels market together with international partners.
The renewable methanol will be produced at the Friesoythe site, near the C-Port on the Küstenkanal. Renewable hydrogen and biogenic carbon dioxide (CO2) from a neighbouring biogas plant will make the methanol a renewable fuel of non-biological origin (RFNBO) as per the Delegated Act definition of the EU.
Production at the plant is scheduled for early 2028.
We are proud to become a close partner and supplier to such a global player in the shipping industry. We are looking forward to supporting MOL with our products. The renewable methanol from Friesoythe will be important for the decarbonization of the shipping industry worldwide, said Cyril Dufau-Sansot, CEO of Hy2gen.