JLEN Environmental Assets Group [JLEN:LN] announced on Monday that it, along with a consortium of investment funds and clean energy developer HH2E, plans to invest up to EUR9.2m (USD10m) in a green hydrogen production site in Lubmin, Germany, as reported by Reuters on July 10. The initial phase of the project will enable the production of over 6,000 tonnes of green hydrogen per year. Subsequent development phases are expected to significantly increase the capacity, reaching over 1 gigawatt and an annual production exceeding 60,000 tonnes of green hydrogen. Green hydrogen, which is produced by electrolyzing water using renewable energy sources like wind or solar power, is highly regarded as a fuel capable of decarbonizing heavy-emitting industries and transportation.

The Lubmin plant will be constructed and operated by HH2E and will primarily supply green hydrogen to the transport industry, as well as large-scale energy and industrial consumers. JLEN expressed its expectation for a final investment decision to be made in the coming months, followed by immediate commencement of the plant’s construction. This investment represents a significant step towards advancing the adoption of green hydrogen as a sustainable fuel source in Germany and promoting the transition to a cleaner and greener energy future.

Sources:

https://www.reuters.com/business/energy/jlen-invest-german-green-hydrogen-production-site-2023-07-10/