German Hydrogen Startup HH2E to Begin Insolvency Proceedings
- Hydrogen project developer failed to secure financing
- It planned to build a hydrogen plant in Baltic port Lubmin
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Project developer HH2E AG is set to file for self-administration after it failed to secure financing for one of Germany’s largest hydrogen projects.
HH2E has been fundraising for its first development project, a hydrogen production plant in the Baltic port of Lubmin. While it said negotiations resulted in final agreements, majority shareholder Foresight Group Holdings Ltd. ultimately decided against providing the necessary financing, HH2E said in a statement.