Green hydrogen developer HH2E advances M&A restructuring
HH2E AG, a German green hydrogen project developer which filed for self-administration in November, unveiled “a large number” of indicative offers for its business, and affirmed its goal of completing a transaction by end-January, 2025.The company said on Monday it has selected the interested bidders that will move forward to the next phase of its restructuring process. “Based on the indicative offers, the prospects for the future development of the company and its employees are good,” it added.HH2E entered preliminary self-administration proceedings after failing to obtain funding from the Foresight Group for the company’s most advanced project -- a green hydrogen plant in Lubmin near Germany's Baltic Sea coast. The project is ready for a final investment decision (FID) and will need two years after that to be commissioned.Meanwhile, HH2E said it has secured a construction and environmental license for another project, which will create a hydrogen production facility in the Thierbach area in eastern Germany. The permit was issued by the State Directorate of Saxony.HH2E is aiming to produce more than 500,000 tonnes of green hydrogen in Germany by 2032.
HH2E AG, a German green hydrogen project developer which filed for self-administration in November, unveiled “a large number” of indicative offers for its business, and affirmed its goal of completing a transaction by end-January, 2025.
The company said on Monday it has selected the interested bidders that will move forward to the next phase of its restructuring process. “Based on the indicative offers, the prospects for the future development of the company and its employees are good,” it added.
HH2E entered preliminary self-administration proceedings after failing to obtain funding from the Foresight Group for the company’s most advanced project -- a green hydrogen plant in Lubmin near Germany's Baltic Sea coast. The project is ready for a final investment decision (FID) and will need two years after that to be commissioned.
Meanwhile, HH2E said it has secured a construction and environmental license for another project, which will create a hydrogen production facility in the Thierbach area in eastern Germany. The permit was issued by the State Directorate of Saxony.
HH2E is aiming to produce more than 500,000 tonnes of green hydrogen in Germany by 2032.
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