Macquarie and Nobian set up joint hydrogen company

Each company will own a 50% stake in HyCC

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Macquarie’s Green Investment Group and Nobian have teamed up to launch a joint hydrogen-focused company – the Hydrogen Chemistry Company (HyCC).

The company will specialise in water electrolysis processes to produce green hydrogen from renewable power.

HyCC is being set up to accelerate the adoption and increase the availability of green hydrogen for industries such as aviation, steel, chemicals and refineries.

It will have a pipeline of more than 400MW in electrolysis projects, with planning ongoing to build three 60MW, 100MW and 250MW projects throughout the Netherlands.

GIG and Nobian will each own a 50% share in the business, which is expected to begin operations from March 2022.

Nobian CEO Michael Koenig said: “With our leading and long-standing expertise in large-scale electrochemistry we are able to invest in an exciting and developing hydrogen market.

“Through this we will contribute to lower carbon emissions and sustainable economic growth, whilst also driving value creation.”

“We expect a rapid acceleration in the energy transition and are excited to invest alongside an experienced business in this field, to accelerate its development and help industries become more sustainable,” Macquarie’s Kate Vidgen added.