Enersense International Plc (a zero-emission energy solutions provider) completed an equity investment of € 13–18 million in P2X Solutions Oy (green hydrogen production company).
Last month Enersense announced that the investment had been confirmed at € 13 million, representing a holding of around 16.3% in P2X after any potential options. The investment will be paid in cash in three instalments by October 2022 and financed using Enersense’s cash assets.
Enersense and P2X also agreed on a partnership arrangement in which Enersense will be a primary partner in the work to be carried out during the construction phase of Finland’s first green hydrogen production plant, which P2X will build in Harjavalta, as well as in its maintenance and operation after the plant has been completed. The value of the cooperation is estimated at around € 7–8 million, which will mainly be spread over 2022–2024, and will continue in terms of maintenance and operation.
Jussi Holopainen, CEO of Enersense International Plc, said, “Wind power and the production of green hydrogen are strongly interlinked, and Enersense has strong expertise throughout the value chain.”
AACSED and Diplomatic Trade to cooperate on hydrogen in MENA
Arab African Council on Socioeconomic Development (AACSED) has signed a joint venture agreement with Diplomatic Trade Ltd. (USA) to support hydrogen and renewable energy projects in Gulf/MENA region.
Both parties will cooperate with notable Arab Business and government bodies to support the region’s new hydrogen/renewable energy policies. Siemens Gamesa is also invited as a selected OEM provider and EPC contractor partner. Diplomatic Trade is a registered lobby in New York, whereas the Arab African Council on Socioeconomic Development is a regional body of retired diplomats and experts.