Caisse depot et placement du Québec, a German company looking to set up in Warrens, Quebec, is taking the first step in green hydrogen production by investing in Hy2gen.
Posted yesterday at 3:02 p.m.
With three other partners, the fund will invest 288 million (మి 200 million) in Hy2gen, which aims to produce green hydrogen-based fuels for the transportation sector.
Hy2gen has partnered with Greenfield Global, which produces ethanol in Warrens, to build and operate a renewable – energy hydrogen plant from Quebec on land adjacent to Greenfield Global’s existing facilities. The project has been abandoned ever since.
For Caisse de dépôt, this is the first investment in the production of green hydrogen, on which there are great hopes of decarbonizing the most polluted industries. “Through this investment in Hy2gen, we demonstrate our determination to provide concrete and practical solutions to meet the current environmental challenges,” said Emmanuel Jacklot, Senior Vice President and Head of Infrastructure at La Cisse.
Hy2gen is a private company based in Wisebaden, Germany. She is currently developing projects in Canada, in an undisclosed location and in France, Norway, Germany and the United States.
The investment of Kaisse and its partners in H2gen is considered to be one of the most important contributions of private funds in the production of green hydrogen. Hy24, Infrastructure Fund, in which Air Liquid and Total Energies are particularly involved, are co-investors in Mirova, a management company affiliated with Natixis, and Technip Energy.