Exceet has been listed on in the Primary Standard of the FSE since 2011, and upon completion of the transaction with APEX, the green hydrogen developer will be listed on the stock exchange under the umbrella of Exceet.
H2 View understands APEX will receive approximately €87m ($94m) in fresh capital as part of the transaction, with €70m ($75m) expected to be used to realise its 1.7GW pipeline of green hydrogen projects, while the remaining €17m ($18m) will be used to repay financial liabilities.
Additionally, APEX has said it will be the sole future investment focus of Exceet, which has a majority shareholding in the investment company Active Ownership (AOC). With experience in the field of renewable energies, including participation in the wind farm project developer PNE AG, AOC has said it plans to accompany APEX in the long-term.
According to APEX, it currently has 50 projects in its pipeline with a total electrolysis capacity of more than 1.7GW. Since 2020, the company has been operating a 2MW project in Rostock-Laage, Germany, which it plans to develop it to 22MW by 2025.
“Our now completed listing via the transaction with Exceet provides us with considerable funds to realise our project pipeline of currently 1.7GW and increase our visibility among our customers,” said Peter Rößneer, CEO of APEX. “Our business model will initially focus primarily on the project business. In the future, however, we will act as both a developer and as an operator of hydrogen electrolysis plants.”
Roland Lienau, Chairman of Exceet, commented, “APEX is ideally positioned in the market and has a strong leadership team and excellent people, and therefore outstanding development prospects. The company has made major investments in plant know-how and development capacities in recent years, and we fully support the management’s growth strategy.”
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