Swiss Alpiq acquires majority stake in Finnish hydrogen firm P2X Alternatives

House Hydrogen Swiss Alpiq acquires majority stake in Finnish hydrogen firm P2X Alternatives

April 15, 2024,
by

Aida Čučuk

Swiss vitality companies provider Alpiq and Finnish green hydrogen firm P2X Alternatives bask in agreed on a financing affiliation in step with which Alpiq will make investments approximately €47 million in P2X, turning into its majority proprietor (54.9%).

Alpiq published the corporate has the selection to amplify its shareholding to up to 100% by the slay of 2028, adding that P2X will seemingly be managed on a partnership foundation and continue to be hunch as an independent company. Founding partner Herkko Plit will stay because the CEO and as a shareholder.

To indicate, P2X Alternatives is a Vitality-to-X developer focusing on producing and promoting green hydrogen and artificial fuels. The company is for the time being essentially active in the Finnish market, however in step with Alpiq, it plans to carry out bigger into totally different Nordic countries in the next stage.

P2X Alternatives is organising an industrial-scale green hydrogen manufacturing facility in Finland, which has an assign in electrolysis capability of 20 MW, making it one among the greatest of its form in Europe. It is far scheduled to be operational in early 2025.

As per Alpiq, P2X Alternatives offers the Swiss company a platform to originate green hydrogen and Vitality-to-X, as nicely as to carry out bigger previous Finland. Furthermore, the corporate identified that there are synergies with Alpiq’s commercial activities in the areas of origination and buying and selling and with Alpiq’s non-public venture pipeline in the place of hydrogen.

Amédée Murisier, a member of Alpiq’s executive board, acknowledged: “P2X Alternatives fits perfectly into Alpiq’s diagram thanks to its hydrogen activities. We are cushty that we are in a position to consolidate our space in Finland the usage of the sure guess of CEO Herkko Plit and his crew and might maybe maybe carry out a big contribution to integrating renewable vitality.”

Herkko Plit commented: “Alpiq is a big European vitality company, and we are very mad to partner with them. Establishing a strategic partnership with Alpiq substantially strengthens our space and skill to scale up our alternate. Furthermore, with Alpiq we are in a position to optimise our price chain of renewable electrical energy, green hydrogen and e-fuels.”

Click here to read extra about hydrogen in Finland.

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