A recent announcement has revealed that German-based company HH2E AG has managed to secure €12 million worth of investment from British companies.
The notice confirmed that the UK’s Foresight Group LLP and HydrogenOne Capital Growth plc have now agreed to obtain stakes HH2E AG’s upcoming developments for green hydrogen projects. HydrogenOne has stated it will invest five million pounds in the recently established enterprise.
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Along with their substantial equity investment, the recently revealed new co-owners will also provide a significant part of the construction and development capital required for five large-scale projects based at industrial locations throughout Germany.
In a statement, co-founder of HH2E, Mark Page, commented on the agreement:
“We’re delighted to have two substantial institutional investors in the green energy space backing our growth plans. This financing agreement enables a massive acceleration of our development plans and a substantial portion of the EUR 2.7bn we expect to deploy on sites in the next 5-6 years.”
The new deal also gives Foresight and HydrogenOne the right to take seats on the supervisory board of HH2E. However, the German company’s founders Alexander Voigt, Mark Page and Andreas Schierenbeck, will still keep a majority stake following completion of the deal with the two UK firms.
