e-Fuels project developer StormFisher Hydrogen announced that it has secured a $50 million investment from Hy24’s Clean Hydrogen Infrastructure Fund, with proceeds aimed at accelerating its pipeline of clean fuel production projects in North America.

Founded in 2006, Houston-based StormFisher Hydrogen develops and operates production facilities that produce e-Fuels, providing clean fuel solutions to help decarbonize hard-to-abate industrial sectors. The company’s facilities use electrolysis technology powered by renewable energy to produce green hydrogen, which is combined with captured CO2 to produce clean fuel such as e-Methane or e-Methanol. StormFisher works with hard-to-abate sectors such as transportation, heavy industry, and gas utility companies, as well as traditional methanol users seeking clean fuel solutions to support long-term decarbonization goals, the company said.

The company’s current project pipeline includes several facilities located across the United States (Texas, Kansas, Minnesota) and Canada (Ontario region). Together, they will have the capacity to convert up to 1.8 GW of renewable energy from solar and wind into RFNBO e-Fuels (renewable fuel of non-biological origin), such as green hydrogen, e-Methanol, green ammonia, and e-Methane, the company said. Its most advanced project located in North Texas will be able to produce more than 120,000 tons of e-Methanol annually when it comes online.

StormFisher said that the new investment will be used to accelerate the deployment of its U.S. and Canada projects, including helping them to reach final investment decisions (FID).

Judson Whiteside, President and CEO of StormFisher Hydrogen, said:

“This collaboration with Hy24 enables us to advance projects in our pipeline and reinforces our role as a leader in project development. We bring a lot of value and long-term jobs to the communities we are developing in, while increasing molecule exports to Europe and Asia. With cutting-edge energy infrastructure and highly skilled workforce, the United States is poised to lead the global low-carbon fuels market. Our projects strengthen America’s position in the energy transition while enhancing domestic energy resilience and independence.”

Launched in 2021, Paris-based Hy24 is a joint venture between the private investment house Ardian and hydrogen-enabling investment platform FiveT Hydrogen. The firm’s Clean Hydrogen Infrastructure Fund has raised €2 billion, making it one of the world’s largest infrastructure funds to exclusively invest in the clean hydrogen value chain.

With previous investment from ARC Financial Corp.’s ARC Energy Transition Fund and this new investment from Hy24, StormFisher Hydrogen said that it expects to deploy several billion dollars of capital over the next decade.

Pierre-Etienne Franc, co-founder and CEO of Hy24, said:

“We are pleased to make our first direct investment in North America to support the growth of StormFisher Hydrogen. The company can leverage its energy platform approach, strong offtaker strategy, and a favorable international regulatory landscape to deploy its robust pipeline of e-Fuels projects and drive its export ambitions to European and Asian markets. These clean energy solutions present a significant opportunity for North America in its pursuit of energy security, economic growth, and its trade and continued leadership in the sector.”