Macquarie’s Green Investment Group (GIG) and Nobian and are joining forces to form an industrial green hydrogen developer.
Hydrogen Chemistry Company (HyCC) has been set up to provide safe, reliable, and affordable green hydrogen solutions to help decarbonise large industries such as aviation, steel, chemicals and refineries.
Nobian’s experience in large-scale electrolysis will be combined with GIG’s resources and project development experience to enable HyCC to “accelerate investments” and the development of more large-scale projects.
Marcel Galjee, managing director of HyCC, added: “We have a strong technical and commercial team and a healthy pipeline of large green hydrogen projects.
“The backing of these two leading companies allows us to further scale-up our portfolio to become a leader in the safe and reliable supply of green hydrogen and make a critical contribution to the EU’s target of realising 40GW of hydrogen electrolysers by 2030”.
GIG and Nobian will each have a 50% share in HyCC, and the deal is expected to close in March 2022.
HyCC will launch with a purpose-built team of hydrogen specialists spanning expertise across technology, manufacturing, project management and commercial development as well as a pipeline of more than 400MW of electrolysis projects.
This includes a planned 60MW facility in the north of the Netherlands to supply green hydrogen for renewable methanol and aviation fuels, a 100MW project near Amsterdam to enable sustainable steel production, and a 250MW project in Rotterdam to replace fossil-based hydrogen.
The deal will allow HyCC to grow this pipeline and expand further into the European market.
Kate Vidgen, head of industrial transition and clean fuels at Macquarie’s Green Investment Group, said: “Green hydrogen is vital to reduce emissions in a wide range of industries that are traditionally difficult to decarbonise – from steel and chemicals to shipping and aviation.
“We expect a rapid acceleration in the energy transition and are excited to invest alongside an experienced business in this field, to accelerate its development and help industries become more sustainable.”