International trading company Trafigura is taking the helm of H2 Energy’s European business.

Trafigura has increased its stake so much that it’s now the majority owner of the hydrogen company H2 Energy Europe AG, while H2 Energy Holding retains a smaller stake, H2 Energy writes in a press release. 

Trafigura will now have an equal stake in the holding company, which focuses on the development of green hydrogen technologies and hydrogen ecosystems.

”This is a welcome development that strategically positions both companies for future growth and investment. As we move forward, our primary objective is to fortify our green hydrogen eco-system, focusing on infrastructural engineering projects, the development of fuel cell applications, and the development and commercialization of key hydrogen equipment,” says H2 Energy founder Rolf Huber.

According to Julien Rolland, head of Strategic Projects and Investments at Trafigura, today’s news will allow H2 Energy Europe to focus on the development of large-scale green hydrogen projects, while the holding company can focus on technology development.

”Trafigura and H2 Energy Holding AG will continue to co-operate closely and benefit from each partner’s respective expertise,” says Rolland.

Among other things, H2 Energy Europe is working on establishing a 1GW hydrogen production plant in Esbjerg, Denmark. A final investment decision is expected to be made in 2024.

(Translated using DeepL with additional editing by Kristoffer Grønbæk)