Hy2gen Canada and SAF+ Consortium have signed a memorandum of understanding that may enable them to contribute collectively to the event of the Québec hydrogen sector. The 2 corporations will work collectively in direction of the event of structuring initiatives within the hydrogen trade sector, extra particularly inexperienced aviation fuels, beginning with a Quebec-based mission.
Hy2gen AG efficiently accomplished a 200 million Euros fundraising earlier this 12 months. That capital will likely be used for the development of installations on quite a few geographic areas, together with Europe, that will likely be producing artificial inexperienced hydrogen-based fuels, or “e-fuels,” for land and sea transportation, aviation and the trade. That funding which is now the most important personal funds mobilization devoted to inexperienced hydrogen growth up to now, in being performed by Hy24. The Caisse de dépôt et placement du Québec (CDPQ) is a associate and a strategic investor.
The SAF+ Consortium also can depend on quite a few well-known companions within the aeronautic sector’s worth chain. Amongst them are Airbus, the world’s most essential plane producer, Air Transat, which will likely be testing the clear gasoline on their crafts; ADM Montreal Airport, which is able to deliver assist for the transportation of unpolluted fuels to YUL Aéroport worldwide Montréal-Trudeau; and Aéro-Montréal, Québec’s Aerospace Cluster.
Based on Hy2gen CEO and Hy2gen Canada President Cyril Dufau-Sansot: “Hy2gen is satisfied that hydrogen-based renewable fuels are an ideal short-term answer to the decarbonization of the primary producers of the greenhouse gasses such because the air sector and welcomes this partnership settlement with the SAF+ Consortium as a part of our efforts and our experience to assist Québec not solely to satisfy its greenhouse objectives for 2030, but in addition to cleared the path.”
Based on SAF+ Consortium CEO Jean Paquin, “The alliance of our two corporations creates a champion in Québec’s inexperienced hydrogen trade and the organising of a powerful renewable gasoline trade for the decarbonization of the aviation sector.”
About Hy2gen AG
Primarily based in Wiesbaden, Germany, Hy2gen AG develops, funds, builds and operates crops for the manufacturing of inexperienced hydrogen and hydrogen-based e-fuels worldwide. In 2019, Hy2gen based an offshoot in Québec/Canada. These merchandise are used to create local weather impartial and aggressive fuels and industrial options. The primary crops are being inbuilt France, Norway, Canada, Germany, and the USA. Hy2gen’s purpose is to grow to be the market chief within the manufacturing of inexperienced hydrogen and inexperienced e-fuels for mobility, agriculture, and trade. Based in 2017, the corporate’s first-mover benefit is underlined by a present mission pipeline in planning and development of 880MW and a mission pipeline of over 12GW in growth. For the primary rounds of financing, Trafigura and different personal traders have already invested in Hy2gen.
Aboutthe SAF+ Consortium
The SAF+ Consortium is a Québec firm that focuses on the conceptualization and manufacturing of renewable fuels produced by capturing the CO2 emissions launched by the big industries and mixing it with inexperienced hydrogen to provide artificial kerosene. It brings collectively a consortium of front-line actors representing all the aviation worth chain with a view to present a renewable enterprise answer for low carbon emission flights.