Press Release: HH2E, new strong player in the German green energy sector

• HH2E plans investments of €2.7 billion (CAPEX) in projects in Germany.
• Smart technology, including a radical carbon-free power station, and robust business model assure the domestic production of cost-competitive green heat and hydrogen.
• HH2E green hydrogen can reach price parity with grey hydrogen five years earlier than expected.
• Industrial-scale and truly innovative approach to decarbonize.
• The founding leadership team of HH2E is now complete with Andreas Schierenbeck, former CEO of Uniper and thyssenkrupp Elevator, who joins Alexander Voigt, serial-entrepreneur and one of the most prominent German experts in the green energy sector and Mark Page, finance expert with experience in large-scale regulated infrastructure businesses.

Called HH2E-Werk, the radical new generation power station will transform the variable input of sun or wind energy into a stable flow of carbon-free power, green hydrogen, and steam to supply local industries and municipalities.

Alexander Voigt, HH2E co-founder and board member: “Our efficient new technology and business model, combined with solar and wind, is the most complete solution I’ve seen in the green energy industry in decades.   For HH2E, the natural fluctuation of renewables power generation and the volatility of energy prices are now opportunities, not threats.”

The HH2E-Werk only needs four hours a day of wind or sun power as input in order to supply a constant flow of carbon-free power, green hydrogen, and heat. Being able to use only the energy generated in the hours with the lowest sun or wind energy prices, its operating cost base is very competitive.

Already by 2025, HH2E will produce and supply green hydrogen in Germany at prices competitive with the expected cost of imports from regions like the Middle East or Australia

A decade ago, the biggest objective was to make wind and photovoltaics technologies better and cheaper. Today, the most important thing is to develop technology capable of making 100% renewable power possible 24×7, while decarbonizing with economic benefits the many industries that cannot work on an all-electric basis, like steel, chemical, mobility, heating and so many other industries and applications. Green hydrogen is the missing piece to realize that full decarbonization. This is a vital mission as these industries were responsible for approximately 60% of the total 644 Million tons of CO2 emissions in Germany in 2020 (Source: EU Emissions trading system, Global Carbon Project).

Andreas Schierenbeck, HH2E co-founder and board member: “I’ve spent over 20 years in large global organizations, addressing performance, introducing innovations and transforming their culture as well as dealing with their internal bureaucracy. Now I want to focus on what has a direct and fast impact; closely driving the development of innovation, technology, and profitable business models that positively change economy and society. This is what I call impact management.”

“It is time to address sector coupling in a comprehensive manner, and we can only build up a strong green energy sector if we find cost-effective and practical ways of decarbonizing important industries.”

The time of calling hydrogen “the champagne of the energy sector” is over. Now, green hydrogen is commonly understood as the key to the energy transition. The green hydrogen global market is expected to grow by 39% per year (CAGR), reaching €2.6 Billion in 2025. (source: Green Hydrogen Global Market Report).  The growth trend is expected to further increase after 2030, as various estimations say it can become price-competitive with the carbon (grey) hydrogen by that year. HH2E plans to achieve that price-parity in Germany by 2025 already, when its first projects start to earn commercial revenue.

Mark Page, HH2E co-founder and board member: “Infrastructure and energy-sector specialist funds with a green finance focus have demonstrated a strong appetite to invest in HH2E AG and our first wave of HH2E-Werk assets in Germany.”

“We target scalable projects that start at 100 MW capacity representing a capex volume of €2.7 Billion in our first wave. Ultimately, we aim to build a total of 4 GW of cost-competitive green hydrogen capacity by 2030. We are already significantly enlarging our team of energy and project management experts; together with green finance partners we will invest in technology development and project implementation to deliver our first wave projects and initiate a larger second wave later this decade.”

The technology

The HH2E-Werk is composed of three main components; a high temperature storage unit, a Zinc electrolyzer, and a power generation unit. The storage unit can accumulate large amounts of wind and solar power in the form of heat. The Zinc electrolyzer is the star innovation of the HH2E-Werk, its asynchronous charge-operate profile offers greater cost efficiency than other type of electrolyzers and produces hydrogen even when the energy input is not available. The power generation unit is composed of a hydrogen turbine or a fuel-cell that generates carbon-free power back.  Operating on a synchronized basis, the three components can supply local industries and municipalities with cost-competitive stable power, green hydrogen, and process steam.

About HH2E

As the world comes to realise the importance of sustainability and how much a green economy can generate value, profit, and new jobs, it is time to change the energy game.

HH2E is a German startup founded to promote immediate change, its technology-mix can transform a variable input of sun or wind energy into a constant flow of cost-competitive carbon-free electricity, green hydrogen, and steam, to supply local industries and municipalities. Learn more about the company, technology, projects and careers at www.hh2e.de

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