Awarded for the production and supply of green hydrogen, the marginal winners offer has increased to a value of DKK 211m ($30.9m) by Danish Authorities.

The increased offer comes after another tender participant was unable to meet the tender contract requirements.

Jacob Krogsgaard, Founder and CEO of Everfuel, said, “The PtX tender is a confirmation of the Danish government’s commitment to developing the national hydrogen production and export potential.

“The Everfuel Hy24 JV is well positioned to pursue this opportunity as part of our joint strategy of making green hydrogen commercially available in key European markets.”

The companies revealed last month (October) it was awarded a Danish PtX tender, which included a built-in subsidy that will support operating expenses based on per kilogramme of green hydrogen production, expected to run for 10 years – dependent on the operational performance of the project.

Read more: Everfuel and Hy24 JV announced as marginal winner of Danish PtX tender

Everfuel and Hy24 completed the signing of the $211.3m JV at the start of October. Everfuel will own 51% of the JV, whilst the Hy24-managed Clean Hydrogen Infrastructure Fund will hold 49%.

The JV includes plans to invest a total of €200m in equity in green hydrogen infrastructure in Denmark, Norway, Sweden and Finland. The project will enable the possibility to fund, build, own and operate up to 1GW of green hydrogen projects.

Read more: Everfuel and Hy24 finalise €200m green hydrogen infrastructure fund joint venture