Press releases

Hy24 enters the Onuba project

Moeve welcomes Hy24 and COFIDES as new strategic partners of the Onuba project  Hy24, the world's largest clean hydrogen private equity asset manager, and Spanish public-private financial institution COFIDES have signed a strategic partnership agreement with Moeve, acquiring a 29% stake in Onuba, the first phase of the Andalusian Green Hydrogen Valley, Europe's largest renewable hydrogen project (2 GW). Onuba, located at Moeve’s Energy Park in Palos de la Frontera (Huelva) in southern Spain, will have 300 MW of electrolysis capacity in the first phase, involving a total investment of more than €1 billion, and making it the largest electrolyser to reach Final Investment Decision (FID) in southern Europe. The project, led by European companies, will advance decarbonization in hard-to-electrify sectors and strengthen Europe’s industrial competitiveness and energy autonomy. According to a recent report by Moeve in collaboration with PwC, green molecules such as renewable hydrogen can reduce Europe’s energy dependence by half by 2040.  Press release — September 16, 2026 —Moeve has announced that Hy24, the world's largest clean hydrogen private equity asset manager, and COFIDES, Spain’s public-private financial institution, have joined the first phase of the Andalusian Green Hydrogen Valley, known as Onuba, with a combined 29% stake. As such, the project, led by Moeve with a majority stake of 51%, will include Enagás Renovable, Alter Enersun, Hy24, investing through Clean Hydrogen Infrastructure Fund, and COFIDES as minority partners. Following the Final Investment Decision announced in March, Onuba will include 300 MW of electrolysis capacity, with the option to expand by an additional 105 MW — making it the largest electrolyser project in southern Europe to reach FID and begin construction. The project, involving a total global investment of more than €1 billion, is located within Moeve’s Energy Park in Palos de la Frontera (Huelva), in southern Spain. Preparatory work for the start of construction has already begun and the official groundbreaking ceremony is scheduled to take place on September 17. German company thyssenkrupp nucera is supplying 300 MW of alkaline water electrolysis equipment and technology for the project. Maarten Wetselaar, CEO of Moeve, said: "We are delighted to welcome Hy24 and COFIDES as strategic partners in the Onuba project. Together, our shared vision and investment will deliver one of the most significant green hydrogen projects in Europe, accelerating the hydrogen economy and supplying renewable fuels to hard-to-abate sectors to reduce our dependence on foreign imports and strengthen our domestic energy systems.” Pierre Etienne Franc, co-founder and CEO of Hy24, said: “Onuba demonstrates that green hydrogen is scaling up through real industrial projects, delivering local benefits with tier-one Spanish partners. In a shifting geopolitical landscape, it strengthens Europe's energy diversification and Spain's strategic autonomy, while paving the way for a southwestern European hydrogen network.” Ángela Pérez, Chairwoman and Chief Executive Officer of COFIDES, stated: “This project, led by Moeve with the support of Enagás Renovable and Alter Enersun, helps address some of the challenges facing green hydrogen and represents a decisive step forward for the development of the sector in Spain, accelerating its deployment. For COFIDES, it is a privilege to support Moeve, a leading company in the energy transition, through the Co-investment Fund, alongside Hy24, a highly specialized partner with strong international recognition.” The initiative has been designated as a Project of Common Interest (PCI) by the European Union and was awarded €304 million from the Government of Spain under the Recovery, Transformation and Resilience Plan — financed by the European Union’s NextGenerationEU programme — through the Hydrogen Valleys scheme, for the development of 405 MW of the Andalusian Green Hydrogen Valley. At 300 MW, Onuba will have the capacity to produce around 45,000 tonnes of green hydrogen per year, avoiding about 250,000 tonnes of CO2 annually — the equivalent of reducing more than all the emissions generated by passenger cars with internal combustion engines in the Spanish cities of Huelva, Cádiz, and Jaén[1]. The execution of the additional 105 MW of Onuba is subject to obtaining additional grid capacity and board approval. Green molecules: A key driver of Europe’s energy independence This project, led by European companies, will help strengthen the continent’s industrial competitiveness while enhancing its energy security. According to the report Why Europe Needs Green Molecules, produced by Moeve in collaboration with PwC, green-molecule-based energy sources such as renewable hydrogen could reduce Europe’s energy dependence by as much as 50% by 2040. At the same time, they would support the EU’s climate-neutrality objectives under the European Green Deal, the Fit for 55 package and REPowerEU. As their role in the energy system expands, green molecules could replace between 30% and 50% of fossil-fuel demand and account for around one-third of the European Union’s energy mix by 2050. They are particularly important for carbon-intensive sectors that are difficult to electrify, including heavy industry, chemicals and long-haul transport, which currently account for 20% to 25% of primary energy demand. Decarbonizing these sectors through the use of green molecules could reduce Europe’s CO₂ emissions by up to 22% by 2050. [1] The calculation of the passenger-car equivalence has been carried out based on the official emission factors of the Ministry for Ecological Transition and Demographic Challenge (MITECO) and on data from the passenger-car fleet in Spain published by the Directorate-General for Traffic (DGT), in accordance with their official reports and statistical databases.   

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Hy24 x OPAL

Hy24 signs agreement to acquire Uniper’s 20% stake in OPAL, a regulated transmission corridor in Germany’s Hydrogen Core Network This marks Hy24’s first investment in regulated transmission infrastructure, underlining its commitment to energy sovereignty, security of supply, and the scaling of clean hydrogen across Europe. OPAL spans approximately 470 km, connecting northern Germany to Central Europe. The corridor’s northern section was converted to transport hydrogen in mid-December 2025 with full corridor conversion expected by the end of 2030. PRESS RELEASE — Paris, 14 September 2026 — Hy24, the world’s largest pure-play asset manager focused on low-carbon hydrogen and its derivatives, today announces it has signed an agreement with Uniper, a European energy company with global reach, to acquire Uniper’s 20% stake in OPAL, a key regulated transmission corridor. OPAL (“Ostsee-Pipeline-Anbindungsleitung”) spans 470 km from north-eastern Germany to the German-Czech border and is being repurposed as part of Germany’s Hydrogen Core Network. Hy24 is actively supporting the development of European hydrogen transmission corridors by investing in critical infrastructure that strengthens Europe’s security of supply and cross-border interconnections. Pierre-Etienne Franc, co-founder and CEO of Hy24, said: “In today’s geopolitical context, strengthening Europe’s access to energy and its interconnections is paramount. Germany has led the way by committing to a robust energy backbone for decarbonised molecules. This investment demonstrates that private capital is ready to accelerate Europe’s decarbonisation infrastructure, with Hy24 well positioned to play an active role in critical European infrastructure alongside established operators and project developers.” The transaction will be carried out by Hy24, via its Clean Hydrogen Infrastructure Fund, through the acquisition of 100% of the shares in Lubmin-Brandov Assets GmbH & Co. KG (“LBA KG”), which holds the 20% stake in OPAL. The remaining 80% stake is held by GASCADE Gastransport GmbH, a leading German gas transmission system operator. OPAL is one of Europe’s largest transmission corridors, spanning approximately 470 km from Lubmin in north-eastern Germany to Brandov on the German-Czech border. OPAL was originally built to transport natural gas into Central Europe. Its northern section was converted for hydrogen transport in mid-December 2025, and the southern section is expected to be converted by the end of 2030.  The divestment of its 20% stake in OPAL forms part of the remedies Uniper must implement under EU state aid rules. On 20 December 2022, the European Commission approved Uniper’s stabilisation package under state aid rules and set out a number of structural remedies to be fulfilled by the company. The completion of the transaction remains subject to the required regulatory approvals and the fulfilment of customary closing conditions. Notes to Editors Germany’s transition to a decarbonised economy is supported by an evolving EU and national policy framework. Measures including REPowerEU and the Carbon Border Adjustment Mechanism (CBAM) are expected to support long-term demand for renewable and low-carbon hydrogen in hard-to-abate sectors such as heavy industry and transport. Germany is positioning itself at the centre of the European hydrogen system, supported by the Hydrogen Acceleration Act adopted in February 2026. The Act underpins the rollout of the German Hydrogen Core Network (Wasserstoff-Kernnetz) — a planned backbone of approximately 9,000 km of hydrogen pipelines — designed to connect key production areas and demand hubs, and link with cross-border corridors. In this context, regulated transmission corridors such as OPAL could play a key role in enabling secure, large-scale hydrogen flows across Germany and into Central Europe.

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ATOME

ATOME PLC Announces Final Investment Decision for the World’s First Industrial-Scale Green Fertiliser Plant  Completes total US$665 Million of Debt and Equity Funding Validates ATOME’s Replicable Platform for Global Food Security [23] April 2026 – ATOME PLC (AIM: ATOM), the developer of international-scale green fertiliser projects, has reached the Final Investment Decision (FID)[1] on its flagship 260,000 tonne-per-year low-carbon fertiliser plant in Villeta, Paraguay (Villeta).  Villeta is the first industrial-scale facility of its kind globally to achieve FID. Villeta was originated and developed by British company ATOME and stands on its own commercial merits, without reliance on UK government grants or aid. Construction of the plant is expected shortly following FID with full production projected to commence by or before October 2029. The US$665 million project funding comprises US$420 million of debt financing provided by leading international development finance institutions, coordinated by IDB Invest, the private sector arm of the IDB Group, together with the International Finance Corporation (IFC), a member of the World Bank Group, European Investment Bank, FMO – the Dutch Entrepreneurial Development Bank and Green Climate Fund. The US$245 million project equity investment is led by Hy24 – the world’s largest low-carbon hydrogen and derivatives pure-play asset manager – investing through its Clean Hydrogen Infrastructure Fund, together with IFC, KfW DEG, IFDK (Danish Government Development Fund) backed by an EFSD+ (European Fund for Sustainable Development+) guarantee under the EU Global Gateway strategy, Sudameris – Paraguay’s second largest financial institution, and ATOME PLC. Natixis Corporate & Investment Banking and GKA Advisors LLP acted as financial advisors to ATOME PLC on the transaction.  Decoupling Food from Fossil Fuels Nitrogen fertiliser is critical in feeding over 50% of the global population but virtually all nitrogen fertiliser today is produced using fossil fuels. Geopolitical instability, such as the current conflict in the Middle East, therefore has a direct impact on energy and fertiliser prices and supply chain structures which lead to food insecurity and price rises. ATOME’s Villeta Project utilises 100% renewable baseload hydropower, enabling the production of a low-carbon Calcium Ammonium Nitrate (CAN) fertiliser, independent from fossil-fuel volatility. The project is in the heart of Latin America, the world’s largest fertiliser import market, and will displace up to 12.5 million tonnes of CO2e over the project’s life. A Replicable Global Platform Villeta is a commercial blueprint for decentralised, secure fossil fuel-free fertiliser production at industrial scale. With key project stakeholder partnerships across offtake – with Norwegian fertiliser giant Yara International ASA – and engineering – with Casale S.A. – ATOME has established a de-risked, high-fidelity framework for the rapid expansion of green industrial assets worldwide. A Watershed Moment for ATOME and Paraguay  The declaration of FID transitions ATOME from a developer into a significant industrial producer. Reaching this US$665 million funding milestone materially de-risks the project and establishes a clear path to construction. As a UK-led initiative, ATOME has successfully delivered a bankable template for the energy transition, proving that industrial-scale green projects can be financed entirely on their own commercial merits. Villeta will generate strong environmental and social benefits in Paraguay, creating jobs, strengthening the country’s industrial base. It will improve fertiliser supply resilience across the Mercosur region. As the world’s first dedicated industrial scale low-carbon fertiliser plant relying solely on 100% renewable power, Villeta demonstrates the viability of clean hydrogen in industrial manufacturing in the right jurisdictions with the right support, while assisting  Paraguay’s shift toward value-added, export-oriented production. Project Summary: Production: 260,000 tonnes/year of low carbon CAN Offtake: 10-year binding agreement with Yara International ASA for the full production Environment: Displaces 500,000 tonnes of CO2e annually. Location: Villeta, Paraguay – in the heart of the world’s largest fertiliser import market. Project film: Villeta – The World’s First Dedicated Industrial Scale Low-Carbon Fertiliser Plant CEO of ATOME, Olivier Mussat, said: "Reaching FID at Villeta is a defining achievement for ATOME which originated, developed and will continue to manage the project through construction and operation. This bankable industrial platform is set to revolutionise the global agricultural sector. Villeta is only the beginning as ATOME rolls out its replicable blueprint, proving that the green transition doesn't need subsidies to be profitable. It needs the right commitment, engineering and partners. We are grateful to the President and Government of Paraguay and its people for their tremendous support and encouragement, as well as to our strategic partners, Casale, our Swiss EPC contractor, and our offtaker, Yara International, the Norwegian global fertiliser company." Co-founder and CEO of Hy24, Pierre-Etienne Franc, said: “In today’s geopolitical context, sovereign, local fertilizer supply is strategic. With the Villeta project, ATOME has brought together a strong team, a committed ecosystem and a cost-competitive platform. This is anchored by Paraguay’s fundamentals, including abundant, low-cost renewable hydropower and a prime location at the heart of regional agricultural demand - alongside leading customers and tier-one partners. Hy24 is proud to lead the investor consortium in supporting ATOME to build a reference project for tomorrow’s sustainable, sovereign and competitive fertilizer industry.” CEO of Impact Fund Denmark, Lars Bo Bertram, said: "This is exactly the type of investment we want to pursue at Impact Fund Denmark. Investments that deliver attractive returns and long-term value creation. We are helping to build new, greener industries in a region with significant potential for growth and development, while also contributing to a marked reduction in dependence on fossil fuels." European Commissioner for International Partnerships, Jozef Síkela, said: “This project shows what Europe’s Global Gateway is about in practice: turning our investments into benefits for both Europe and our partners. For Paraguay, it means building a modern, clean fertiliser industry, creating local value and jobs while contributing to sustainable agriculture and food security. For Europe, it supports the strategic positioning of European companies in the Latin American market.” IFC’s Division Director for Argentina, Brazil, Paraguay and Uruguay, Manuel Reyes-Retana, said: "The ATOME Villeta project aligns with IFC's mandate – as it helps transform Paraguay’s manufacturing base while creating job opportunities. By taking subordinated risk, mobilising concessional finance from the Green Climate Fund, and committing equity, IFC is helping launch a first-of-its-kind green hydrogen project that strengthens the regional food supply chain by producing the fertilisers that the Mercosur region needs on more resilient, sustainable terms." European Investment Bank Vice-President, Ioannis Tsakiris, said: "Disruption in the Strait of Hormuz has exposed the vulnerability of global fertiliser supply chains as well as our energy security. With this investment, public and private investors as well as multilateral development banks have joined together in a model partnership to finance the first industrial‑scale green hydrogen fertiliser plant outside the European Union. This is a major contribution to the resilience and food supply of our Mercosur partners in Paraguay and the stability of the wider region."  CEO at FMO, Michael Jongeneel, said: “FMO’s participation reflects our commitment to catalyzing first‑of‑a‑kind climate‑aligned industrial investments that reduce emissions while strengthening food security and economic resilience. By supporting Villeta, we aim to help establish a replicable model for sustainable fertilizer production that can be scaled across Paraguay and the wider Mercosur region.” CEO of Casale, Federico Zardi, said: “At Casale we have been a true believer of the importance and urgency to decarbonise fertilizer production and we are, therefore, very glad that this important project is finally becoming a reality, a small but very significant step into making the production of food sustainable. We are very proud to be the technology and project execution partner of such a landmark project, and to be able to contribute to its success story with our state-of-the-art designs for low carbon fertilizer production.”  [1] FID conditional on ATOME PLC shareholders’ approval expected in May 2026

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HysetCo x Uber

Uber investit dans les taxis et VTC hydrogène de HysetCo Paris, le 22 avril 2026 - Uber et HysetCo, pionnier et leader de la mobilité hydrogène en Europe, s’allient pour renforcer leurs offres taxi et VTC et la décarbonation de la mobilité urbaine. Uber investit au sein de HysetCo via un prêt convertible afin de soutenir le développement de HysetCo et de renforcer son offre de taxis à Paris. C’est la première fois qu’Uber investit dans une entreprise française. Uber soutient le développement de HysetCo Ce partenariat marque une étape structurante pour HysetCo, qui consolide sa position d’opérateur de référence de la mobilité hydrogène en Europe. Il constitue également une première pour Uber qui fait le choix d’investir dans une entreprise française et de s’ancrer encore plus profondément dans le secteur du taxi. L’engagement financier d’Uber prend la forme d’un prêt convertible, destiné à soutenir la croissance de HysetCo et à renforcer l’offre Taxi d’Uber. Ce soutien constitue un levier industriel déterminant pour déployer des solutions hydrogène concrètes permettant aux chauffeurs de taxi et de VTC d’accéder à la clientèle d’Uber et à des véhicules hydrogène dans des conditions optimales. Une offre Uber Taxi renforcée grâce aux clients taxis de HysetCo Présent sur le segment Taxi depuis octobre 2022, Uber continue à étoffer son offre tant auprès de ses utilisateurs que des chauffeurs de taxi. Après avoir lancé les courses de taxi à prix fixe en 2025, Uber propose désormais une gamme de taxi d'affaires, Business Taxi, à la seule destination de la clientèle professionnelle d’Uber for Business. Dès la fin de l'année 2026, les véhicules hydrogène de HysetCo représenteront un véhicule sur cinq éligible à l'offre Business Taxi, marquant une avancée décisive dans le positionnement d'Uber sur le marché du taxi d'affaires. Cette montée en puissance repose sur un objectif d'intégration de près de 2000 taxis premium à hydrogène issus de la flotte HysetCo au cours des cinq prochaines années. Ainsi, ce déploiement de véhicules haut de gamme pour des trajets zéro émission constitue le moteur de la croissance de Business Taxi, garantissant aux entreprises une solution de mobilité alliant prestige, fiabilité et durabilité. Grâce à ce partenariat, les clients taxi de HysetCo auront la capacité de réaliser leur activité sur la plateforme Uber. Comme 5 000 taxis franciliens, ils pourront bénéficier de la forte demande de trajets en Taxi sur Uber et des avancées technologiques de l’application comme le fait de connaître le tarif de la course et sa destination avant de l’accepter. Un modèle industriel éprouvé autour de l’hydrogène Pour déployer cette offre, Uber s’appuie sur l’expertise et l’infrastructure unique de HysetCo, le seul acteur en Europe à avoir structuré un modèle industriel intégré dédié à la mobilité hydrogène. Actif en Île-de-France depuis cinq ans, HysetCo propose un service complet de location et de gestion de véhicules à hydrogène incluant la mise à disposition de véhicules, la maintenance, les réparations, l’assurance, le remplacement, l’accompagnement à la prise en main et l’accès à son réseau de stations ouvertes 24h/24 et 7j/7. Ce modèle est déjà éprouvé avec plus de 800 véhicules en exploitation, notamment dans les segments du taxi et des flottes d’entreprises avec 90 millions de km parcourus sans émission depuis 2021. L’ouverture au marché du VTC marque une nouvelle étape dans le déploiement de la mobilité hydrogène à grande échelle. « Ce partenariat avec Uber marque un signal fort : la mobilité hydrogène est prête pour un déploiement à grande échelle, notamment sur les usages intensifs. Les infrastructures sont en place, les véhicules sont disponibles et les usages sont là. L’engagement d’Uber à nos côtés est une étape décisive très positive. Ensemble, nous poursuivons avec confiance et détermination une trajectoire à la fois ambitieuse et concrète pour une mobilité décarbonée et l’amélioration de la qualité de l’air. », déclare Loïc Voisin, Président de HysetCo. « En investissant au sein de HysetCo, un acteur incontournable du taxi parisien depuis près d’un siècle, nous nous ancrons encore plus solidement dans le secteur du taxi. Avec ce partenariat, notre offre qui jouit d’un véritable engouement tant auprès des utilisateurs que des artisans indépendants taxi va être renforcée en BtoB. De plus, avec les véhicules hydrogène, nous complétons notre arsenal de véhicules pour des trajets zéro émission pour les VTC et faisons un nouveau pas dans notre trajectoire vers la mobilité propre », déclare Laureline Serieys, General Manager d’Uber en France. « Les équipes d’Hy24 se réjouissent de ce nouveau partenariat avec Uber qui démontre la fiabilité technologique, la compétitivité et la qualité de l’offre de mobilité intégrée proposée par HysetCo. Nous sommes convaincus que les véhicules électriques à hydrogène, offrent une solution hybride indispensable pour la décarbonation de la mobilité intensive dans nos villes et c’est la raison pour laquelle nous soutenons HysetCo dans toutes les étapes de son expansion en France et en Europe. » conclut Pierre-Etienne Franc, Co-fondateur et directeur général d’Hy24 et actionnaire majoritaire de HysetCo.

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Hy24 x Enagás Renovable

Hy24 becomes majority shareholder in Spain’s Enagás Renovable Hy24, via its Clean Hydrogen Infrastructure Fund, has raised its shareholding in Enagás Renovable from 30% to 80%, securing a majority and controlling stake. Enagás Renovable, one of Europe’s most advanced renewable hydrogen and biomethane developers, has a 850MW+ portfolio of advanced renewable gas projects, including eight that have passed Final Investment Decision (FID). Enagás has agreed to reduce its stake to 20% to comply with the unbundling requirements while retaining a presence in the Company. PRESS RELEASE, Madrid, Spain, April 21st, 2026 – Hy24, the world’s largest low-carbon hydrogen and derivatives pure-play asset manager, today announces the completion of its acquisition of a majority shareholding in Enagás Renovable, through its Clean Hydrogen Infrastructure Fund. This transaction builds on Hy24’s initial entry into Enagás Renovable in 2022, when Hy24 acquired a 30% stake to support the deployment of a pipeline of renewable hydrogen and biomethane projects aligned with Spain’s decarbonization roadmap. Founded in 2019, Enagás Renovable operates as an integrated renewable gas platform, covering project development, financing, construction, operations, and long-term offtake structuring. Its portfolio comprises more than 20 renewable gases projects, including over 850MW of electrolysis capacity, whose scale and geographic footprint underpin the development of the Spanish Hydrogen Backbone and the H2Med corridor, supporting decarbonization across industry and transport. Becoming majority shareholder allows Hy24 to take full advantage of the Iberian peninsula’s position as a major exporter of clean energy to France and Central Europe through H2Med, supported by large-scale assets such as the Catalina project. These projects are instrumental in advancing Europe’s industrial strategic autonomy. Spain stands ready to lead European hydrogen development with its vast renewable energy resources, domestic hydrogen production and industrial users and Hy24 is now a key player in this journey. The acquisition of a majority stake by Hy24 also entails the orderly exit of Navantia and Pontegadea from the shareholder base - who together held a 10% stake in the company. Both shareholders played a significant role during Enagás Renovable’s initial and consolidation phases, contributing decisively to its development and positioning as a key player in the hydrogen sector. Pierre-Etienne Franc, co-founder and CEO of Hy24, said: “This is a landmark transaction for Hy24 and a strong signal for Europe. By increasing our stake in Enagás Renovable, we are reaffirming the strength of Franco‑Spanish cooperation as a key enabler of European energy interconnectedness and security, notably through H2Med. Scaling locally produced low‑carbon molecules is essential to industrial competitiveness and energy sovereignty while reducing our dependence on imported fossil fuels. We look forward to continuing to work with Enagás Renovable to mature the Spanish hydrogen ecosystem that holds huge potential to accelerate the next phase of European hydrogen development.” Held through Hy24’s investment vehicle in Iberia, H2 Investments Spain, Enagás Renovable has brought eight projects to FID through a proactive collaboration strategy, progressively scaling project size by leveraging its capabilities and the knowledge gained, and is a first mover in the European hydrogen space, including: GreenHysland (Mallorca): The first "Green Hydrogen Island" in Southern Europe – integrating hydrogen production, distribution, and end-use (for buses and local energy) in an island ecosystem. Bilbao e-Fuels Project (Basque Country): The first hydrogen plant to raise project finance in Iberia.  The Cartagena Project (Murcia): The largest project in Iberia to take FID in 2025. The Onuba Hydrogen Project (Huelva): A 400 MW plant, which reached FID for its first 300 MW phase in March 2026, making it the largest post-FID project in southwest Europe. Enagás Renovable has a strategic presence in five of Spain’s eight main hydrogen hubs, supported by strong partnerships with industrial partners such as Moeve and Repsol, positioning the company at the forefront of renewable hydrogen and biomethane development in Europe. Following the transaction, Enagás will remain a minority shareholder in the next development phase of the company. Arturo Gonzalo, CEO of Enagás, reaffirmed its support: “This evolution of our shareholding is a natural consequence of the maturity achieved by the Spanish ecosystem, in full compliance with the independence requirements for hydrogen network operators in Europe. It enables Enagás to fully focus on our role as Spain’s HTNO and on developing strategic cross-border infrastructure such as H2Med - connecting the South and the North of Europe - while continuing to support Enagás Renovable as a minority shareholder alongside Hy24.” Antón Martínez, CEO of Enagás Renovable, added: “In just a few years, Enagás Renovable has transformed an early-stage pipeline into a mature portfolio with multiple FIDs, operating projects and assets under construction. With Hy24’s increased commitment and the continued support of Enagás and partners, we are ready to accelerate delivery and scale competitive renewable hydrogen and biomethane for Spanish and European industry.”

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Hy24 and REFIRE Announce Collaboration to Accelerate Global Hydrogen Energy Ecosystems Paris & Shanghai - July 25th, 2025 – Hy24, the world’s leading low-carbon hydrogen asset manager, and Shanghai REFIRE Company Limited (HK.2570) have signed a Memorandum of Understanding (MoU) for a strategic partnership to scale green hydrogen production and distribution, and hydrogen-electric power and mobility use cases. The parties aim to foster industrial development and accelerate market deployment, adding value within Europe through a hybrid Sino-European supply chain and process model. Under the MoU, Hy24’s innovative investment strategies, global value chain approach, large industrial and financial ecosystem, and global project pipeline will be combined with REFIRE’s ecosystem architecting capabilities, turnkey engineering and fuel cell mobility solutions, to fast-track and deliver bankable hydrogen projects. The two companies will establish working groups and joint ecosystem activities to explore a variety of end use cases, including low-carbon mobility market gaps where hydrogen-electric power can be leveraged for transport decarbonisation. Initial focus will be on deployments in Europe, but with a broader view towards developing global markets. More structured partnership agreements are expected to follow in support of areas of co-development. Pierre-Etienne Franc, Co-founder and CEO of Hy24, said: “REFIRE has demonstrated steady, resilient growth, emerging as a key global player in hydrogen technologies and ecosystems through technical expertise and cost-efficient, quality supply chain at scale. European and Chinese players have significant synergies to explore and leverage, and Hy24 is committed to building bridges to further accelerate the decarbonisation of the mobility sector.” Robin LIN QI, Co-founder and CEO of REFIRE, said: “It is an honour to be partnering with the world’s leading hydrogen investment manager. Hy24 has built a pedigree of trust amongst investors through its deep industry knowledge. We have a shared vision to gather the critical mass of industry leaders that will enable scaling up of decarbonisation solutions worldwide, in particular heavy-duty transport.”

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Hynamics UK and Hy24 sign exclusive partnership to develop UK's Fawley Green Hydrogen project MoU covers development and funding of Fawley Green Hydrogen Project with the ambition to codevelop additional UK projects On the eve of the UK-France Summit 2025, Hynamics UK, a 100% subsidiary of EDF Group specialising in low-carbon and renewable hydrogen production, and Hy24, the world’s leading low-carbon hydrogen asset manager, have signed a Memorandum of Understanding (MoU) to enter an exclusive partnership to pursue the development and funding of the Fawley Green Hydrogen Project. The Project has been shortlisted in the UK government’s Hydrogen Allocation Round 2 (HAR2) subsidy scheme. Hynamics and Hy24 are aiming to establish a broader partnership in the United Kingdom. The agreement between Hynamics and Hy24 was formalised on July 8th, during the State visit to the UK of the French President. This Memorandum of Understanding (MoU) marks the beginning of exclusive negotiations with Hy24, through its Clean Hydrogen Infrastructure Fund, to develop and finance a £300 million hydrogen electrolytic production facility in Fawley, located in Hampshire, England. The project aims to supply green hydrogen to the ExxonMobil petrochemical complex as part of its decarbonisation strategy. In addition, Hynamics UK and Hy24 reaffirmed their shared commitment to accelerating the deployment of low-carbon hydrogen across the UK’s industrial sectors. They also expressed their intention to collaborate on a broader range of projects developed by Hynamics UK, aligning with the UK government’s ambitions for clean energy development. The Fawley Green Hydrogen project: potential 100 000 tons of CO2/year saving initiative Hynamics UK was shortlisted in April 2025 in the government’s HAR2 for its Fawley Green Hydrogen Project, to be located on land adjacent to the Esso Fawley refinery. The Project will consist of a 120 MW electrolyser participing in the decarbonisation of this national strategic infrastructure. Employing over 2500 staff and contractors, the ExxonMobil Fawley refinery is the largest complex of its kind in the UK, with 1 in 4 vehicles using Fawley road fuels and providing more than 20% of the UK’s aviation fuel, including a quarter of Heathrow’s need. This ambitious first-of-a-kind opportunity aims to reduce up to 100 000 tons/year of CO2 emissions by replacing heavy fuel oil and grey hydrogen with low-carbon hydrogen. CEO of Hynamics UK, Pierre de Raphélis-Soissan, said: “I am delighted with this partnership with Hy24, which marks a new stage in the development of Hynamics' projects in the United Kingdom. This agreement is a continuation of the relationship of trust that has been built up over several years. Our MoU is in line with the Clean Industrial Strategy presented by the British Government in June and is a testimony to the potential for cooperation between industrial and financial players across the Channel.” Amir Sharifi, Comex member & Strategy Lead at Hy24, Head of UK, Southern Europe and MENA, added: “The policy landscape in the UK is providing the certainty and clarity needed to enable decarbonization projects at the right scale and pace. We see this as a very positive signal and a strong opportunity for Hy24 to expand into the UK for the first time, alongside partners who are deeply committed to the energy transition. The reality is that leadership positions across the hydrogen value chain are being shaped now- and the UK has shown remarkable consistency and determination in this regard. In this context, Hynamics UK stands out as one of the most advanced players, and we are pleased to solidify our partnership with them to help accelerate the development of the UK’s hydrogen economy.” Notes to editors The UK-France Summit underlines the strategic importance of cooperation between UK and France in energy matters, including renewables and low-carbon hydrogen. The Summit follows France's revised National Hydrogen Strategy, adopted in April, that repositioned the nation as a major player in decarbonisation on a global scale. In addition, the UK government recently launched its new Industrial Strategy with hydrogen identified as playing a key role in the 10 year plan. This builds on the stable and consistent regulatory framework that the UK government has already put in place, that fosters investor confidence in clean hydrogen projects. This move by Hy24 further complements Ardian’s long-term commitment to supporting the UK’s net-zero ambitions, building on recent strategic investments in sustainable growth in aviation (Heathrow) and green digital infrastructure (Verne).

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StormFisher Hydrogen

StormFisher Hydrogen Secures US$50 million Commitment from Hy24 to Deliver Pipeline of Clean Fuel Production Projects in North America The investment will accelerate StormFisher Hydrogen’s current project pipeline deployment, including several facilities in the U.S. and Canada, with a total renewable capacity of up to 1.8 GW by 2030. Hy24, investing through their Clean Hydrogen Infrastructure Fund, is entering directly into the North American market, contributing to the advancement of clean fuel deployment in the region while supporting StormFisher Hydrogen’s export ambitions to European and Asian markets. Houston, Texas– February 11th, 2025 – StormFisher Hydrogen, a leading developer and producer of clean fuels, announces today it has secured a US$50 million commitment from Hy24’s Clean Hydrogen Infrastructure Fund, the world’s leading low-carbon hydrogen asset manager. This strategic partnership will accelerate StormFisher Hydrogen’s pipeline of clean fuel production projects in North America, helping them to reach final investment decisions (FID) and catalyzing the transition to low carbon energy solutions. “We are pleased to make our first direct investment in North America to support the growth of StormFisher Hydrogen,” said Pierre-Etienne Franc, co-founder and CEO of Hy24. “The company can leverage its energy platform approach, strong offtaker strategy, and a favorable international regulatory landscape to deploy its robust pipeline of e-Fuels projects and drive its export ambitions to European and Asian markets. These clean energy solutions present a significant opportunity for North America in its pursuit of energy security, economic growth, and its trade and continued leadership in the sector.” StormFisher Hydrogen’s current project pipeline includes several facilities located across the United States (Texas, Kansas, Minnesota) and Canada (Ontario region). Together, they will have the capacity to convert up to 1.8 gigawatts (GW) of renewable energy from solar and wind into RFNBO e-Fuels (renewable fuel of non-biological origin), such as green hydrogen, e-Methanol, green ammonia, and e-Methane. The company’s most advanced project located in North Texas, U.S. is expected to reach FID in early 2026 and will have an e-Methanol production capacity of more than 120,000 tonnes per year. “This collaboration with Hy24 enables us to advance projects in our pipeline and reinforces our role as a leader in project development,” said Judson Whiteside, President and CEO of StormFisher Hydrogen. “We bring a lot of value and long-term jobs to the communities we are developing in, while increasing molecule exports to Europe and Asia. With cutting-edge energy infrastructure and highly skilled workforce, the United States is poised to lead the global low-carbon fuels market. Our projects strengthen America’s position in the energy transition while enhancing domestic energy resilience and independence.” StormFisher Hydrogen will make a significant contribution to the development of North America's e-Fuel production capacity, which is critical for decarbonizing hard-to-abate industries such as maritime, aviation, and chemicals. It will also help establish the United States as a key supplier to the global market while reinforcing the country’s leadership in the energy sector. With previous investment from ARC Financial Corp.’s ARC Energy Transition Fund and this new investment from Hy24, StormFisher Hydrogen is expected to deploy several billion dollars of capital over the next decade. The company’s clean fuel production facilities will have material economic benefits for local communities, creating approximately 50 permanent high-quality, full-time jobs per site. “We are thrilled to partner with Hy24,” said Brian Boulanger, CEO of ARC Financial Corp. “Their deep expertise and sectoral focus in the hydrogen and e-Fuel space will be instrumental in accelerating StormFisher Hydrogen’s mission to lead in clean fuel development. With the management team’s proven track record in developing major projects, ARC Financial Corp.'s extensive North American investment experience, and Hy24's global reach, we are well-positioned to deliver low-carbon hydrogen-derived products to our industrial customers at scale.”

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H2SITE

Hydrogen equipment pioneer H2SITE successfully raises EUR36 million from a consortium of investors co-led by Hy24 and SC Net Zero Ventures The Series B Funding round is co-led by Hy24 and SC Net Zero Ventures who are joined by Breakthrough Energy Ventures, Enagás Emprende, Equinor Ventures, Exergon, Ezten, and MassMutual Ventures. The investment round will support the next phases of H2SITE’s innovative hydrogen technology deployment, focusing on scaling up to multi tons per day reactors in operation by 2026. H2SITE’s solution addresses the challenges of transporting hydrogen, making the technology more accessible and creating significant cost savings.  Bilbao, Spain, January 16th, 2025 – H2SITE, a deep-tech pioneer of hydrogen separation solutions, announces today the successful closing of its Series B funding round at EUR36 million from a consortium of investors, combining strategic and financial investors focused on the next growth phase. H2SITE has received support from new co-lead investors Hy24, the world’s leading low-carbon hydrogen pure-play investment manager, through its Clean Hydrogen Equipment Fund, and SC Net Zero Ventures, the climate tech venture capital fund with focus on industrial and mobility decarbonization, managed by Suma Capital, a pioneer in sustainable and impact investments.  The lead investors are joined by new investors MassMutual Ventures, Enagás Emprende and Exergon, and existing historical investors and partners involved in the first phases of H2SITE’s solution industrialization: Series A Funding round leader Breakthrough Energy Ventures along with Equinor Ventures and Ezten, FCR (a fund managed by Gestión de Capital Riesgo del País Vasco of the SPRI Group - Basque Government). This consortium of investors will provide H2SITE with access to a broad international ecosystem of stakeholders who share the unified vision of hydrogen as a vital energy vector for achieving European and global industrial decarbonization targets. Since 2021, H2SITE has been developing a proprietary membrane reactor technology which enables hydrogen separation from gas streams and easy-to-transport molecules, such as ammonia or methanol. H2SITE has built and operated 15 projects in Western Europe and is now developing large-scale infrastructure first-of-a-kind projects in North America, the EU and Asia Pacific.   The Series B funding aims to support the company’s next industrialization and commercialization milestones, including multi tons per day hydrogen production capacity in operation by 2026, and addressing several end-use markets such as large scale and decentralized ammonia cracking, natural hydrogen production in the USA and maritime decarbonization applications. By tackling the challenge of hydrogen supply chain, separation technologies play a critical role in the suite of innovations required to build a reliable, scalable, and efficient low-carbon hydrogen economy.  Andrés Galnares, Founder and Chief Executive Officer, H2SITE, said: “For our third funding round, we have assembled a consortium of strategic and financial partners who deeply understand the challenges of scaling production, hydrogen deployment timelines, and market demand. This collective expertise and support will empower us to drive growth and execute large-scale infrastructure projects over the next thirty-six months, with a focus on ammonia cracking and hydrogen separation.” Guillaume Lesueur, Managing Director & Head of the Clean Hydrogen Equipment Fund, Hy24, said: “H2SITE has developed an innovative and efficient purification technology that serves a wide range of markets across the hydrogen supply chain. This versatility, combined with the team’s extensive industrial expertise, aligns with the strategic objectives of Hy24’s Clean Hydrogen Equipment Fund: supporting breakthrough equipment providers and scalable technologies. It also highlights Hy24’s continued role as a leading investment catalyst in the hydrogen ecosystem and our dedication to addressing the equipment manufacturing challenge.” Natalia Ruiz, Managing Partner, SC Net Zero Ventures, said: “At SC Net Zero Ventures, we are committed to supporting technology solutions that accelerate the pace towards energy transition. H2SITE's innovation in hydrogen separation is a key example of that, with a proprietary technology that addresses a key challenge in the hydrogen supply chain. We are proud to support a company that is not only leading technological innovation, but also making a tangible impact on the decarbonization of strategic sectors.” H2SITE was advised by Gómez-Acebo & Pombo (GA_P). Hy24 was advised by Pinsent Masons. SC Net Zero Ventures was advised by Tribeca Abogados.

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