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Danish hydrogen fuel company Everfuel A/S (OSE:EFUEL) is on track to see the HySynergy phase 1 project in Denmark, which includes the installation of a 20-MW electrolyser for green hydrogen production, completed in the first quarter of next year.
The project marked the first acquisition of a EUR-200-million (USD 218.0m) green hydrogen joint venture established earlier this year between Everfuel and Hy24, an equally-owned business of Ardian and FiveT Hydrogen.
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Everfuel noted in a recent statement that it is making progress on the HySynergy phase 1 under an updated timeline supported by fully developed operational organisation and procedures.
The Danish firm said that it is also advancing its strategy realignment that seeks to shift the focus on the development of large-scale green hydrogen production and refuelling solutions for heavy-duty vehicles, as announced in August.
“The strategic realignment and related organisational adjustment are expected to enable Everfuel to execute current growth plans into 2025 before requiring additional equity as large-scale electrolyser projects are brought to final investment decision,” the company said in the press release.
(EUR 1 = USD 1.090)
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