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Signature(s)

Amount
€ 40,000,000
Countries
Sector(s)
The Netherlands : € 40,000,000
Industry : € 40,000,000
Signature date(s)
10/10/2023 : € 40,000,000
Link to source

Summary sheet

Release date
11 May 2023
Status
Reference
Signed | 10/10/2023
20220548
Project name
Promoter - financial intermediary
H2BATTERY (IEU GT)
BATTOLYSER HOLDING BV
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 40 million
EUR 106 million
Location
Sector(s)
Description
Objectives

The project supports the demonstration efforts of serial production by an innovative start-up bringing a new more performant technology to market. The product is a first-of-its-kind electrolyser stack of cells to be deployed within dedicated installations at customer industrial sites for producing green hydrogen. The promoter's business model consists in developing sales of manufactured stacks and after-sales services. The project will be located in the Rotterdam area (NL).

The aim is to bring a new technology to market that helps lowering the Levelised Cost of Hydrogen (LCOH). The business plan foresees the rapid dissemination of the technology. Although electrolysers are growingly used for the supply of green hydrogen, they are still facing significant challenges including in operating performance energy efficiency and LCOH production. The project will lead to significant indirect greenhouse gas emissions savings by contributing to deploy the least cost solutions for the supply of green hydrogen. The project is therefore eligible under Article 309 point (c) common interest. Additionally, it contributes to foster innovation and skills, through the planned research, development and innovation activities and the interaction with universities, suppliers and customers in the field of electrolysers.

Environmental aspects
Procurement

The project complies with relevant EU and national environmental legislation and being small, its overall environmental impact is not significant. The products resulting from the project will help accelerate the deployment of electrolysers and green hydrogen, thereby support the decarbonisation of industry.

The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions.

Milestone
Under appraisal
Approved
Signed
14 June 2023
10 October 2023
Related projects
Link to source
Summary sheet

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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