As part of HH2E Group’s restructuring strategy to attract new investment and ensure long-term growth, Ernst & Young (EY) has been engaged to advise on a structured merger and acquisition (M&A) process. Operating under preliminary self-administration proceedings (vorläufige Eigenverwaltung), HH2E keeps its value intact. This strategy enables the company to safeguard critical assets, retain top talent, and execute a systematic corporate restructuring to build a sustainable future.
The M&A process will begin with an initial exchange of information with potential bidders, several of whom have already expressed interest following recent press coverage. The information-sharing phase will conclude with the submission of indicative offers, after which a shortlist of the most competitive bids will be finalized. The process is targeted for completion by the end of January 2025.
HH2E is one of the largest and most advanced green hydrogen production platforms in Europe, with one of its planned industrial scale production units is ready for Final Investment Decision (FID) and requiring only two years after FID confirmation until Commercial Operation Date, as all key milestones critical for a FID have been achieved or are in advanced stages of completion.
The HH2E-Werk Lubmin Front-End Engineering Design has been finalized, ensuring the project’s technical feasibility. Agreements or contracts are secured with reputable counterparties for essential components such as grid connection (50hertz, Siemens Energy), gas pipelines (Gascade), electrolyzers (Nel Hydrogen), and batteries (BASF/NGK). Permitting processes have advanced, with key applications submitted and final approvals anticipated shortly. Civil works and plant-related contracts are in advanced negotiation stages, with drafts prepared for imminent signing.
The HH2E-Werk Lubmin leads as the most advanced project in the HH2E projects platform, followed closely by a second unit in Thierbach, near Borna/Leipzig. The projects platform also includes two locations in the pre-Project Investment Decision phase and others ready for development. All projects are strategically located in regions with abundant surplus renewable electricity and are well-positioned for connection to the hydrogen pipeline core network currently under development in Germany.
The M&A process is conducted by a dedicated team composed by HH2E and EY executives supervised by the HH2E Board, now including the experts Sascha Feies and Dr. Karl-Friedrich Curtze from GÖRG law firm, and the co-founders Alexander Voigt, Peter Blauwhoff, and Marcus Süllmann. The process is being supervised by the preliminary Custodian (vorläufiger Sachwalter), Dr. Gordon Geiser (GT Restructuring), appointed by the Local Court of Berlin-Charlottenburg.
“Our journey, like that of many early-stage companies, has its challenges, but HH2E has consistently emerged stronger, having established a leading platform for industrial-scale green hydrogen projects in just three years,” said Alexander Voigt, Co-founder and Management Board Member of HH2E. “With our flagship site now FID-ready and capable of reaching COD within two years, we’re transforming a temporary setback into a compelling investment opportunity. The demand for green hydrogen is undeniable, and HH2E is poised to lead the charge in this new era of electrification while advancing innovation in Germany.”
For Media queries:
Luis Ramos, Head of Communications, HH2E AG
M: +49 152 56975341 ; Email: luis.ramos@hh2e.de
For Investor queries:
Gabor Stolmar,Senior Manager, EY Strategy & Transactions GmbH
M: +49 160 93912868 ; E-mail: Gabor.Stolmar@de.ey.com
