Multinational green hydrogen company has raised €65m from leading global institutions and existing investors.
Tree Energy Solutions (TES), will use proceeds from its second fundraising round to accelerate the development of its proprietary circular carbon economy model for the hydrogen market.
The company says the new capital will enable it to accelerate the global clean energy transition by building the world’s largest hydrogen projects by 2030. The fundraising attracted investment from leading financial institutions and international energy corporations including E.ON, HSBC, UniCredit and Zodiac Maritime.
TES is developing a green energy hub in the German port of Wilhelmshaven, with the goal of supplying 250TWh of green gas annually. The company plans to develop similar hubs in other European ports, and to offer affordable green hydrogen, green gas and green power in volumes that will significantly contribute to the decarbonisation of global energy.
For TES, this involves introducing a circular carbon economy to the hydrogen market by using cutting-edge technologies to combine hydrogen with CO2 to produce synthetic methane. The company will import green hydrogen and synthetic methane from countries with renewable rich energy generation in order to help diversify Europe’s energy supply. Existing pipeline infrastructure can facilitate the cost-effective delivery to end users.
TES is already scaling up the production of 5.5 million tons of reliable, on-demand green hydrogen in its European Green Energy Hub at Wilhelmshaven. The company is also developing additional energy supply and import hubs in Germany, Belgium, the Netherlands, France, the Middle East, Canada and the United States, with the view to integrate and optimising global supply chains.
Marco Alverà, CEO of TES, said that the investment ‘[demonstrates] the growing appetite for renewable natural gas. TES is now further progressing to become an agent of change, driving this revolution.’ While Patrick Lammers, COO of E.ON, added, ‘The deepening of our partnership with TES is a next step on the way to a sustainable energy landscape while ensuring security of supply. Without the use of green gases such as hydrogen, it will be impossible to completely avoid CO2 emissions.’