Green hydrogen firm Tree Energy Solutions (TES) announced it has successfully concluded its second fundraising round at €65 million.
This new capital will enable TES to accelerate the clean energy transition by building the world’s largest hydrogen projects by 2030.
The fundraising attracted a global investor base comprising leading financial institutions and international energy corporations including E.ON, HSBC, UniCredit and Zodiac Maritime.
TES is developing a green energy hub in the German port of Wilhelmshaven, with the goal of supplying 250TWh of green gas annually. The strategy is to develop similar hubs in other European ports.
This involves introducing a circular carbon economy to the hydrogen market by using cutting-edge technologies to combine hydrogen with CO2 to produce synthetic methane. The company will import green hydrogen and synthetic methane from countries with renewable rich energy generation in order to help diversify Europe’s energy supply.
Existing pipeline infrastructure can facilitate the cost-effective delivery to end users.
TES is already scaling up the production of 5.5 million tons of reliable on-demand green hydrogen in its European Green Energy Hub at Wilhelmshaven. Marco Alverà, CEO of TES, said: “We are excited to announce this milestone on our journey to deliver green, affordable hydrogen. This newly raised capital will be used to bring us to FID by end of 2023. Our sustainable business model has attracted the interest of world-class industrial and financial players, demonstrating the growing appetite for renewable natural gas. TES is now further progressing to become an agent of change, driving this revolution.”
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