Aviation H2 makes progress; Hy2gen AG completes investment round

Hydrogen is widely seen as the future fuel that will complement batteries as the world shifts towards net-zero emissions.

Investors have shown confidence in Aviation H2’s plans to build Australia’s first hydrogen powered-plane through oversubscribed capital raise.

Hydrogen offers the first true pathway to decarbonise the aviation sector. Aviation H2 is looking to achieve its goal by developing a method for converting a traditional aircraft into a hydrogen-fuelled plane, allowing potential customers to modify existing aircraft rather than investing in an entirely new fleet.

Aviation H2 is currently testing various options for carbon-free flight and will present the most commercially viable option to its board in mid-March. They expect to have a plane in the sky within the next 18 months.

While batteries are certainly viable in propeller-driven planes, they don’t even come into consideration for long-range flights. Barring any major technological breakthroughs, batteries are too heavy for long-range aircraft, which implies that green hydrogen is the only viable option for zero emissions, long-distance. There’s still some work required before hydrogen is a viable option.

Hy24, Mirova, CDPQ and Technip invest in Hy2gen AG

Hy2gen AG has announced the successful completion of a €200 million investment round. The capital will be used to construct facilities in several geographies, including Europe, producing green hydrogen-based fuels (e-fuels) for maritime and ground transport, aviation and industrial applications.

The investment is led by Hy24 together with Mirova, CDPQ and strategic investor Technip Energies.

Hy2gen, founded in 2017, is a pioneer in the electrolysis of green hydrogen and its derivatives. The company is one of the leading players in the green hydrogen industry, with 880MW in planning and construction and a further 12GW of projects in development.

Ethan Mandel

Ethan is the special correspondent for Europe covering the hydrogen industry for H2 Bulletin. Please click on the email icon to contact me via email or follow me on social media. I am reachable on Phone: 02081237815
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