Trafigura will invest in H2 Energy Holding to support the development of the production, storage and distribution of green hydrogen for refuelling stations and industrial customers.
Supporting a green movement, the Singapore-based company today (2nd Dec) said it will invest an initial $62m, with $20m as capital injection into H2 Energy Holding.
The remaining part of the investment will be provided to seed and fund the development of a 50:50 joint venture based in Zurich that will roll out green hydrogen-based ecosystems and to invest in hydrogen infrastructure and hydrogen application-related projects across Europe, excluding Switzerland.
Commenting on the investment, Jeremy Weir, Executive Chairman and CEO of Trafigura, said, ““Our investment has enormous potential at a time when the economics for green hydrogen use by heavy duty transport is becoming competitive with traditional fuels.”
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