Hy24 and Everfuel launch Nordic JV

The €200mn JV will acquire its Danish parent’s 20MW Hysynergy Phase 1 project for €28mn

Investment firm Hy24 and Denmark’s Everfuel have formed a €200mn ($212mn) joint venture (JV) to accelerate hydrogen projects in the Nordic countries. Everfuel will own 51pc of the JV and the Hy24-managed Clean H2 Infra Fund will own 49pc. The JV will acquire Everfuel’s 20MW Hysynergy Phase 1 plant in Denmark for “a purchase price reflecting costs incurred at signing… subject to adjustment for additional costs incurred up until closing”. This is estimated at €28mn, with Everfuel also due to repay an outstanding €10mn loan from the European Investment Bank. Hysynergy Phase 1 is expected to begin operations in Q2 this year, with offtake from the adjacent Crossbridge Energy Refinery. Hy24 will p