RCS - HydrogenOne Cap Gwth - Sunfire: Finnish hydrogen plant online

Hydrogenone Capital GrowthAnnouncement

21/02/2025 07:00

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RNS Number : 9400X  HydrogenOne Capital Growth PLC  21 February 2025

LEI: 213800PMTT98U879SF45

 

 

21 February 2025

HydrogenOne Capital Growth plc

('HydrogenOne' or the 'Company')

 

Finnish green hydrogen plant becomes operational using Sunfire's electroysers

 

HydrogenOne Capital Growth plc, the first London-listed fund investing in
clean hydrogen for a positive environmental impact, is pleased to note the
start of commercial operations at a new P2X Solutions green hydrogen plant in
Finland, using portfolio company Sunfire AG ('Sunfire') electrolysers.

 

Sunfire, a leading global electrolysis company, and P2X Solutions, a Finnish
pioneer in green hydrogen and Power-to-X technologies, celebrate the
commissioning of the production plant in Harjavalta. The Sunfire electrolyser
is Finland's first industrial plant for the commercial production of green
hydrogen.

 

P2X Solutions relies on Sunfire's proven pressurised alkaline technology for
green hydrogen production. The Harjavalta plant's production capacity is 20
MW.

 

Nils Aldag, CEO of Sunfire, said: "The electrolysis plant in Harjavalta is a
flagship project in Europe. With the commercial operation of Sunfire's
electrolyser now underway, P2X Solutions has achieved a major milestone in
accelerating Finland's green hydrogen market. We are proud to be part of this
pioneering project and congratulate the entire team on this outstanding
achievement in Finland's energy history."

 

Dr JJ Traynor, Managing Partner of HydrogenOne Capital LLP, the Company's
investment adviser, commented: "This marks an important step for Sunfire, P2X
Solutions and Finland, establishing green hydrogen at a commercial scale, and
once again demonstrating the robustness of Sunfire's product offering."

 

In addition to P2X Solutions, the Finnish project developer Ren-Gas has
recently selected Sunfire's technology for its 50 MW plant in Tampere.

 

Finland is emerging as a leading location for the production of green
hydrogen, aiming to produce at least ten percent of the EU's hydrogen in 2030,
with €2.3 billion of state support announced recently for renewables,
decarbonisation of industry and equipment supply chains.

 

As at 30 December 2024, HydrogenOne's investment in Sunfire represented 28% of
the Company's NAV.

 

- Ends -

 

Notes

For further information, please visit www.hydrogenonecapitalgrowthplc.com
(http://www.hydrogenonecapitalgrowthplc.com) or contact:

 

 HydrogenOne Capital LLP - Investment Adviser   Tel: +44 (0) 20 3830 8231
 JJ Traynor

 Richard Hulf

 Eva Roberts

 Barclays Bank PLC - Corporate Broker           Tel: +44 (0) 20 7623 2323

 Dion Di Miceli                                 BarclaysInvestmentCompanies@barclays.com

                                              (mailto:BarclaysInvestmentCompanies@barclays.com)
 Stuart Muress

 James Atkinson

 Burson Buchanan - Financial PR                  Tel: +44 (0) 20 7466 5000

 Henry Harrison-Topham                           Email: HGEN@buchanancomms.co.uk (mailto:HGEN@buchanancomms.co.uk)

 Henry Wilson

 Samuel Adams

 

About HydrogenOne

 

HydrogenOne is the first London-listed hydrogen fund investing in clean
hydrogen for a positive environmental impact. The Company was launched in 2021
with an investment objective to deliver an attractive level of capital growth
by investing in a diversified portfolio of hydrogen and complementary hydrogen
focused assets. INEOS Energy is a strategic investor in HydrogenOne. The
Company is listed on the London Stock Exchange's main market (ticker code:
HGEN). The Company is an Article 9 climate impact fund with an ESG policy
integrated in investment decisions and asset monitoring.

 

The Company's Investment Adviser, HydrogenOne Capital LLP (FRN: 954060), is an
appointed representative of Thornbridge Investment Management LLP (FRN:
713859) which is authorised and regulated by the Financial Conduct Authority.

 

About Sunfire

 

Sunfire is a global leader in the production of industrial electrolysers based
on pressurised alkaline and solid oxide (SOEC) technologies. With its
electrolysis solutions, Sunfire is addressing a key challenge of today's
energy system: Providing renewable hydrogen and syngas as climate-neutral
substitutes for fossil energy. Sunfire's innovative and proven electrolysis
technology enables the transformation of carbon-intensive industries that are
currently dependent on fossil-based oil, gas, or coal. The company employs
more than 650 people located in Germany and Switzerland.

 

 

IMPORTANT NOTICE

 

This announcement contains (or may contain) certain forward-looking statements
with respect to certain of the Company's plans and/or the plans of one or more
of its investee companies and their respective current goals and expectations
relating to their respective future financial condition and performance and
which involve a number of risks and uncertainties. The Company cautions
readers that no forward- looking statement is a guarantee of future
performance and that actual results could differ materially from those
contained in the forward-looking statements.

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