The Danish investor has agreed to invest €15m ($17.3m) up until the initiative reaches a final investment decision (FID). If the project is feasible and sustainable, both partners plan to fully fund the several hundred million euro build.

H2Apex aims to complete the first phase by 2028, producing up to 10,000 tonnes of hydrogen annually, with potential to scale to 600MW.

The Rostock-based developer said hydrogen offtake for the 100MW phase is secured through a preliminary agreement. The site already has a 50Hertz grid connection, water supply, and future access to the planned hydrogen transmission network.

H2Apex acquired the Lubmin project for €7m ($8.1m) from the insolvent HH2E last month. The project has been backed with €167m ($193m) in EU funding through the Important Projects of Common European Interest (IPCEI) programme.

Commenting on CIP’s investment, Partner Felix Pahl said the project will be key to scaling Germany’s hydrogen economy, backed by strong infrastructure and EU support.

Peter Rößner, CEO of H2APEX, said, “We are delighted to have brought one of the world’s most financially strong infrastructure funds to Mecklenburg-Western Pomerania, bringing us a big step closer to the start of construction of our projects in Lubmin.”

Before construction resumes in 2026, H2Apex will focus on reserving and ordering equipment, and completing the necessary permits and approvals.

In the long term, the company wants to expand the site to a total capacity of over 1GW.

“We are now continuing to work intensively on the further development of our projects so that construction can begin next year,” added Rößner.