Everfuel A/S and Hy24 A/S announced that the JV has signed the final agreement with the Danish Government in relation to the Power-to-X tender for supporting production and supply of green hydrogen. The increased grant is valued at DKK 211 million (EUR 28.3 million) following the revised offer provided by the Danish Energy Agency on November 17. The tender's built-in subsidy is provided as support for operating expenses and is recognised per kilogram of green hydrogen produced.

The subsidy will run for ten years and is dependent on the operational performance of the project. The tender for large-scale green hydrogen production and supply is the first of its kind and supports Denmark's power-to-X strategy to build upwards of 4-6 GW electrolyser capacity.