HydrogenOne Capital Growth plc announced its first investment commitment in a green hydrogen supply project. The Thierbach Project is a development project for the construction of an industrial-scale green hydrogen production plant that will serve customers across the energy, transportation and industrials sectors in Germany. Thierbach is projected to have the capacity to produce c.6,000 tonnes of green hydrogen per year, displacing fossil fuels and, therefore, avoiding harmful greenhouse gas emissions.

Further expansion phases could increase production to more than 60,000 tonnes in the medium term, which could result in over 10 million tonnes of greenhouse gas emissions ("GHGs") avoided over the life of the project. The Thierbach Project will be built and operated by HH2E AG ("HH2E"), a specialist in developing projects to decarbonise industry across Germany using green hydrogen.Following today's announcements, the HH2E team will progress with the development of the Thierbach project, including the procurement of long-lead equipment, ahead of a final investment decision expected later in 2023. HydrogenOne will invest £2.4 million (EUR 2.8 million) in the Thierbach Project, alongside other institutional investors and HH2E.

The company's investment commitment will be completed in the coming months.