Plagazi AB (publ) has signed a letter of intent (LoI) with Blu-Power GmbH to form a long-term offtake agreement of 2,000 tons of green hydrogen.
The estimated amount of hydrogen that Blu-Power will source covers almost half of the yearly production of one Plagazi HE-2000 unit, and the parties have agreed upon a market-competitive price per kilogram of H2.
Blu-Power’s aim is to create an infrastructure for fossil-free fuels for vehicles with a negative ecological footprint. Blu-Power has identified green hydrogen as the future gas and will be used in their fueling stations. The Blu-Power conglomerate consists of three parts:
- Blu-Power Franchise
Blu-Power Franchise is building the world’s first renewable fuel franchise, while Blu-Motor focuses on developing and producing next-generation vehicles. The last part of the company is Blu-Energy which will cover the franchise’s innovative fueling stations.
Looking at the identified off-takers and their industry, in combination with large car manufacturers’ commitment to hydrogen-powered vehicles, it is clear that hydrogen implementation in the transport sector is developing faster than anticipated.
Torsten Granberg, CEO of Plagazi AB (publ), said, “Project Havelstoff is moving from clarity to clarity and the proof of this is securing further offtake of Plagazi’s fuel cell grade green hydrogen planned to be produced in the project.”