Nobian and Macquarie’s Green Investment Group (GIG) have executed their agreement on the shared ownership of green hydrogen developer HyCC.
In December 2021 the two companies agreed on shared ownership of the new joint venture, which specialises in water electrolysis to produce green hydrogen from renewable power at an industrial scale.
With the closing of the deal, HyCC will benefit from Nobian’s expertise in large-scale electrolysis and GIG’s resources and project development experience.
HyCC already has more than 400MW of green hydrogen projects under development. The company recently received all required permits for a 20MW green hydrogen plant in Delfzijl, in the Netherlands.
In February, it also announced the joint development with BP of H2-Fifty, a 250MW project in Rotterdam.
Other projects include a 40MW in Delfzijl to provide hydrogen for sustainable aviation fuel and a 100MW project in IJmuiden with Tata Steel and the Port of Amsterdam.
HyCC managing director Marcel Galjee said: “Green hydrogen is key to decarbonising large industries such as steel, aviation and chemistry, enabling the development of a truly sustainable economy.
“With the backing of two strong shareholders and a dedicated team of specialists we can accelerate our growth and continue to play a leading role in the new hydrogen economy.”
Nobian chief executive Michael Koenig added: “With our leading and long-standing expertise in large scale electrochemistry we are able to invest in an exciting and developing hydrogen market.”
Kate Vidgen, head of industrial transition and clean fuels at GIG, said: “HyCC has the capabilities required to scale up green hydrogen production to enable the transition to a truly circular economy.”