With €12m ($12.50m) being raised in total for the funding round, the companies will provide a substantial part of the development and construction capital covering five large projects.

These projects are expected to be at industrial locations across Germany and will cost in excess of €500m ($520m) to fully develop.

HH2E has already identified a multi-billion and multi-gigawatt investment potential over several projects in Germany.

Over the next few years, the emphasis will be on decarbonising existing industrial sites, but over time, HH2E intends to develop greenfield projects.

Simon Hogan, Chairman of HydrogenOne, said, “HH2E is HydrogenOne’s second investment into a clean hydrogen developer company. HH2E are identifying substantial clean hydrogen projects in Germany, which offer the potential for significant investment there for our shareholders.”

Mark Page, co-founder and CFO, HH2E, said, “We’re delighted to have two substantial institutional investors in the green energy space backing our growth plans.

“This financing agreement enables a massive acceleration of our development plans and represents a substantial portion of the capital we expect to deploy on sites in the next five to six years.”

Did you know H2 View is the only media publication to be recognised as an official partner of the Hydrogen Council?

This means we get exclusive columns, interviews and studies that you won’t find anywhere else. Along with our featured webinars and events, H2 View is the go to global platform for the hydrogen industry.

Become a subscriber today to make sure you don’t miss out. Already a subscriber? Log in here.