REG - HydrogenOne Cap Gwth - Investment in first green hydrogen project

Hydrogenone Capital GrowthAnnouncement

26/01/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230126:nRSZ8900Na&default-theme=true

RNS Number : 8900N  HydrogenOne Capital Growth PLC  26 January 2023

HydrogenOne Capital Growth plc ("HydrogenOne" or the "Company")

LEI: 213800PMTT98U879SF45

26 January 2023

Investment in first green hydrogen project, at Thierbach in Germany

 

HydrogenOne, the first London-listed fund investing in clean hydrogen for a
positive environmental impact, is pleased to announce its first investment
commitment in a green hydrogen supply project (the "Thierbach Project" or
"Thierbach").

 

The Thierbach Project is a development project for the construction of an
industrial-scale green hydrogen production plant that will serve customers
across the energy, transportation and industrials sectors in Germany.

 

Thierbach is projected to have the capacity to produce c.6,000 tonnes of green
hydrogen per year, displacing fossil fuels and, therefore, avoiding harmful
greenhouse gas emissions.  Further expansion phases could increase production
to more than 60,000 tonnes in the medium term, which could result in over 10
million tonnes of greenhouse gas emissions ("GHGs") avoided over the life of
the project.

 

The Thierbach Project will be built and operated by HH2E AG ("HH2E"), a
specialist in developing projects to decarbonise industry across Germany using
green hydrogen. Following today's announcements, the HH2E team will progress
with the development of the Thierbach project, including the procurement of
long-lead equipment, ahead of a final investment decision expected later in
2023.

 

As announced on 16 May 2022, the Company has invested £5 million (€6
million) in HH2E and benefits from the right to co-investment in certain
hydrogen supply projects developed by HH2E in Germany. Further information
about HH2E may be found on the Company's website at
https://hydrogenonecapitalgrowthplc.com/portfolio/private-investments/hh2e-ag/
(https://hydrogenonecapitalgrowthplc.com/portfolio/private-investments/hh2e-ag/)

 

HydrogenOne will invest £2.4 million (EUR 2.8 million) in the Thierbach
Project, alongside other institutional investors and HH2E. The Company's
investment commitment will be completed in the coming months.

 

The Investment Adviser, HydrogenOne Capital LLP, continues to review a number
of attractive investment opportunities in hydrogen supply projects, over 10 of
which are currently under exclusivity.

Simon Hogan, Chairman of HydrogenOne, commented: "We are pleased to start 2023
with our tenth investment, and first investment in a clean hydrogen project.
Germany is leading the way in green hydrogen development and production in
Europe with plans to develop an 1,800 km hydrogen pipeline by 2027, so we are
delighted to be actively involved in building out this industry. We look
forward to working with our consortium partners to bring the Thierbach project
into production. We expect this to be the first of a number of hydrogen supply
projects, where the Company has exclusivity on multiple opportunities in
several countries."

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

 

 HydrogenOne Capital LLP - Investment Adviser  +44 20 3830 8231
 JJ Traynor/Richard Hulf

 Eva Bezruchko

 Barclays Bank PLC - Corporate Broker          +44 20 7623 2323

 Dion Di Miceli                                BarclaysInvestmentCompanies@barclays.com

 Stuart Muress

 FTI Consulting - Media Enquiries

 Matthew O'Keeffe                              +44 20 3727 1725

 Christopher Laing                             +44 78 0923 4126

                                               hygen@fticonsulting.com

 

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
focussed 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.

 

About the Thierbach Project

 

The Thierbach Project is the second large-scale green hydrogen supply project
in Germany announced by HH2E, following a similar project under development in
Lubmin. The technology-mix and design of these two plants, and those that
could follow, is similar and applies proven systems and components, thus
potentially reducing risk and implementation time. The technology mix
developed by HH2E for these projects harnesses the volatility of renewable
energy production by combining an alkaline electrolyser with a high-capacity
battery, which enables constant production of cost-competitive green hydrogen
without a permanent supply of power.

 

IMPORTANT NOTICE

 

This announcement does not constitute an offer to sell, or the solicitation of
an offer to acquire or subscribe for, shares in the Company in any
jurisdiction. The distribution of this announcement outside the UK may be
restricted by law. No action has been taken by the Company that would permit
possession of this announcement in any jurisdiction outside the UK where
action for that purpose is required. Persons outside the UK who come into
possession of this announcement should inform themselves about the
distribution of this announcement in their particular jurisdiction.

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 or projects 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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCNKPBDFBKDCDB