P2X Solutions, a Finnish green hydrogen and power-to-x technology pioneer, has reached an agreement on an equity investment of EUR 20 million in its funding round. The company has on December 8, 2021, signed an agreement with Enersense International Oyj, a creator of zero-emission energy solutions, for an investment of EUR 13–18 million in P2X Solutions Oy. In addition to Enersense, e.g., Lifeline Ventures, an early-stage investor in the company, will participate in the investment round.
In connection with the investment, P2X Solutions and Enersense have agreed on an arrangement in which Enersense, subject to certain conditions, will become a preferred supplier in construction services, maintenance, and operation of P2X Solutions’ first green hydrogen production plant in Harjavalta. The partnership arrangement also applies to P2X Solutions’ potential future projects over the next three years.
“We are creating a green hydrogen market in Finland and ensuring that we keep up with the rest of Europe. P2X Solutions will produce green hydrogen and further process part of it into renewable synthetic fuels in a cost-effective manner. After securing a EUR 20 million equity funding, the project has taken a big step closer to implementation. Having Enersense, a creator of emission-free energy solutions as an owner and partner brings great additional value for our company. With green hydrogen and power-to-x technology, we can significantly reduce emissions and thus promote an emission-free welfare society”, says Herkko Plit, CEO of P2X Solutions.
The completion of the funding round requires investment support for new energy technology and large-scale demonstration projects, which the company has applied for from the Ministry of Employment and the Economy.
More information:
Herkko Plit, CEO
herkko.plit@p2x.fi
+358 50 462 0788
P2X Solutions is a Finnish pioneer in green hydrogen and Power-to-X technology. We are accelerating the rise of the hydrogen market holistically and innovatively in all areas of the value chain. We operate as a producer and distributor of green hydrogen and synthetic fuel, and we deliver hydrogen plants in a customer-oriented manner, if necessary, on a turnkey basis. We will make the world cleaner – together. https://p2x.fi/