Hydrogenious LOHC has reshaped its leadership team, with key executives taking board positions as part of a strategic pivot toward industrial-scale hydrogen transportation, backed by fresh investment.
In a statement released today (February 20), the company said its founder, Dr. Daniel Teichmann, who had served as CEO since its founding in 2014, would become Executive Chairman of Hydrogenious’ board.
Additionally, the previous chief strategy officer, Dr. Andreas Lehamnn, has taken over as CEO and also joined the board, along with Chief Technology Officer Dr. Caspar Paetz, and Chief Commercial Officer Dr. Stefan Buerkle.
The shakeup is hoped to “realign” the organisation’s focus on delivering large-scale projects for its liquid organic hydrogen carrier (LOHC) technology, which it slates as a solution to hydrogen transportation issues.
AP Ventures, Temasek, Winkelmann Group, Covestro, Chevron Technology Ventures and Anglo American Platinum have increased their shares in Hydrogenious in a €17m ($17.7m) raise, which H2 View understands has supported the leadership changes.
“Thanks to the conceptual and financial support of our investors, we have been able to realign key elements of our organisation and create the basis for a long-term and future-oriented positioning of our company,” said Teichmann.
Hydrogenious says the funds will also be used to support the development of planned projects and the scaling of its technology.
Hilton Ingram, Executive Head, Marketing at Anglo American Platinum, which was an original seed investor in the firm, said the new funding and leadership structure signalled that LOHC technology was at a “critical inflection point” and must be supported.
“Hydrogenious has demonstrated resilience and progress in a challenging market environment, and we are confident that [its] strategic realignment and focus on industrial-scale projects will solidify [its] position as a market leader,” Christian Knechtel, Winkelmann Group CEO, added.
The company offers technology for the storage and release of hydrogen from LOHCs – organic compounds that exist as a liquid in ambient conditions. These have been highlighted as potentially safe, cheaper hydrogen storage and transport solutions thanks to their compatibility with existing oil and gas infrastructure.
Read more:Can LOHCs deliver hydrogen’s global potential?
Last year, the company was awarded €72.5m ($75.6m) from an Important Project of Common European Interest (IPCEI) scheme to drive forward its 1,800-tonne Green Hydrogen @ Blue Danube project in southern Germany to demonstrate the LOHC tech.
Despite the technology’s apparent potential, backers of LOHCs and other types of carriers had been calling on policymakers for more support.
In 2024, Hydrogenious joined Chiyoda, Honeywell UOP and Mitsubishi in calling on the EU to recognise more carriers beyond ammonia and methanol in public funding schemes.
Read more:EU hydrogen import goals at risk without diverse carrier technologies, industry warns
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