12 July 2023
Canada Pension Plan Investment Board (CPP Investments) and hydrogen project developer Power2X today announced a long-term investment partnership aimed at advancing Power2X’s leading role in the global clean energy transition.
The partnership plans to invest an initial €130 million to accelerate the growth of Power2X as a development platform and fund green molecule projects. The investment supports Power2X’s mission to become a long-term developer, owner, and operator of next-generation energy assets with a focus on green hydrogen and other clean molecules such as green methanol and ammonia.
Power2X develops large-scale new energy assets and infrastructure focusing on decarbonizing industrial value chains and heavy transport in collaboration with industrial companies around the world. The company is focused on clean hydrogen, ammonia, and methanol, with a diverse portfolio of projects that are initially prioritising European demand. Under the terms of the deal, CPP Investments will acquire a majority interest in Power2X.
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