Hydrogen investment fund Hy24 has committed $50m to StormFisher Hydrogen to support its 1.8GW North American project pipeline.
The financing, secured through Hy24’s Clean Hydrogen Infrastructure Fund, is expected to help StormFisher’s clean energy and hydrogen projects to reach a final investment decision (FID).
The hydrogen and e-fuel developer has several facilities in Texas, Kansas, Minnesota, and Ontario, Canada. From its 1.8GW of renewable energy projects, StormFisher will produce green hydrogen, e-methanol, green ammonia, and e-methane.
The most advanced project is located in North Texas and is expected to reach FID in early 2026, producing more than 120,000 tonnes of e-methanol per year.
Through Hy24’s Clean Hydrogen Infrastructure Fund, Pierre-Etienne Franc, Co-Founder and CEO of the joint venture investment house, said StormFisher can “leverage its energy platform approach, strong offtaker strategy, and a favourable international regulatory landscape to deploy its robust pipeline of e-fuels projects and drive its export ambitions to European and Asian markets.”
With previous investment from ARC Financial Corp’s Energy Transition Fund and the new investment from Hy24, StormFisher has stated it will “deploy several billion dollars of capital over the next decade.”
Read more:StormFisher secures $30m to expand low-carbon fuel project pipeline
Judson Whiteside, President and CEO of StormFisher Hydrogen, said, “This collaboration with Hy24 enables us to advance projects in our pipeline and reinforces our role as a leader in project development.”
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