HH2E

HH2E AG Appoints EY as M&A Advisor and Opens Call for Investment Offers. As part of HH2E Group's restructuring strategy to attract new investment and ensure long-term growth, Ernst & Young (EY) has been engaged to advise on a structured merger and acquisition (M&A) process. Operating under preliminary self-administration proceedings (vorläufige Eigenverwaltung), HH2E keeps its value intact. This strategy enables the company to safeguard critical assets, retain top talent, and execute a systematic corporate restructuring to build a sustainable future. The M&A process will begin with an initial exchange of information with potential bidders, several of whom have already expressed interest following recent press coverage. The information-sharing phase will conclude with the submission of indicative offers, after which a shortlist of the most competitive bids will be finalized. The process is targeted for completion by the end of January 2025. HH2E is one of the largest and most advanced green hydrogen production platforms in Europe, with one of its planned industrial scale production units is ready for Final Investment Decision (FID) and requiring only two years after FID confirmation until Commercial Operation Date, as all key milestones critical for a FID have been achieved or are in advanced stages of completion. The HH2E-Werk Lubmin Front-End Engineering Design has been finalized, ensuring the project's technical feasibility. Agreements or contracts are secured with reputable counterparties for essential components such as grid connection (50Hertz Transmission GmbH, Siemens Energy), gas pipelines (GASCADE Gastransport GmbH), electrolyzers (Nel Hydrogen), and batteries (BASF/NGK). Permitting processes have advanced, with key applications submitted and final approvals anticipated shortly. Civil works and plant-related contracts are in advanced negotiation stages, with drafts prepared for imminent signing. The HH2E-Werk Lubmin leads as the most advanced project in the HH2E projects platform, followed closely by a second unit in Thierbach, near Borna/Leipzig. The projects platform also includes two locations in the pre-Project Investment Decision phase and others ready for development. All projects are strategically located in regions with abundant surplus renewable electricity and are well-positioned for connection to the hydrogen pipeline core network currently under development in Germany. The M&A process is conducted by a dedicated team composed by HH2E and EY executives supervised by the HH2E Board, now including the experts Sascha Feies and Dr. Karl-Friedrich Curtze from GÖRG law firm, and the co-founders Alexander Voigt, Peter Blauwhoff, and Marcus Süllmann. The process is being supervised by the preliminary Custodian (vorläufiger Sachwalter), Dr. Gordon Geiser (GT Restructuring), appointed by the Local Court of Berlin-Charlottenburg. 

𝗛𝗛𝟮𝗘 𝗔𝗚 𝗦𝘂𝗰𝗰𝗲𝘀𝘀𝗳𝘂𝗹𝗹𝘆 𝗘𝗻𝘁𝗲𝗿𝘀 𝗣𝗿𝗲𝗹𝗶𝗺𝗶𝗻𝗮𝗿𝘆 𝗦𝗲𝗹𝗳-𝗔𝗱𝗺𝗶𝗻𝗶𝘀𝘁𝗿𝗮𝘁𝗶𝗼𝗻, 𝗦𝗽𝗮𝗿𝗸𝗶𝗻𝗴 𝗠𝗮𝗿𝗸𝗲𝘁 𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁. On November 12th, 2024, the Local Court of Berlin-Charlottenburg has approved the applications of HH2E AGand HH2E Werk Lubmin GmbH for preliminary self-administration proceedings (vorläufige Eigenverwaltung) and appointed Dr. Gordon Geiser (GT Restructuring) as preliminary Custodian (vorläufiger Sachwalter). The court order marks a significant step forward for HH2E Group’s restructuring strategy, aimed at securing new investment and ensuring long-term growth. HH2E Werk Thierbach GmbH is not subject to insolvency procedures. In line with the self-administration process, HH2E AG has strengthened its management team. Restructuring experts Sascha Feies and Dr. Karl-Friedrich Curtze from GÖRG law firm have joined the leadership of HH2E Werk Lubmin GmbH, as well as the management board of HH2E AG alongside its  board members Alexander Voigt, Peter Blauwhoff, and Marcus Süllmann. The self-administration strategy aims to facilitate a structured merger and acquisition (M&A) process, seeking a new investor to bolster HH2E Group's ambitious renewable energy goals. This approach allows the company to preserve key assets, retain valuable talent, and implement a systematic corporate restructuring to achieve a sustainable future. Since announcing last week its decision to pursue self-administration, HH2E AG has received interest from a number of reputable parties, underscoring the viability of its business model and market potential. “Although filing for self-administration wasn’t part of our original plan, early-stage challenges are not uncommon for new companies,” said Alexander Voigt, Co-founder and Management Board Member of HH2E. "Our foundation is built on a solid business concept and a future-driven market. The transition to a 100% renewable energy society is unstoppable, with green hydrogen set to play a key role in the energy mix."

𝐇𝐇𝟐𝐄 𝐀𝐆 𝐅𝐢𝐥𝐞𝐬 𝐟𝐨𝐫 𝐒𝐞𝐥𝐟-𝐀𝐝𝐦𝐢𝐧𝐢𝐬𝐭𝐫𝐚𝐭𝐢𝐨𝐧 𝐭𝐨 𝐒𝐞𝐜𝐮𝐫𝐞 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 Berlin, 8 November 2024 - HH2E AG, a pioneering player in green hydrogen production in Germany, will file for self-administration to secure the company's future amid a shift in its financing structure. In May 2024, the Foresight Group became the majority shareholder of HH2E AG and its subsidiaries through a consolidation process. Over the past few weeks, HH2E was in intensive negotiations with Foresight regarding the funding of its first green hydrogen production facility. These negotiations resulted in final agreements, which were expected to be concluded this week. However, as of yesterday, Foresight Group reinformed HH2E AG that its Investment Committee had ultimately decided against providing the necessary financing. Consequently, HH2E AG and its subsidiary, HH2E Werk Lubmin GmbH, are legally obligated to initiate insolvency proceedings. The HH2E AG management was prepared, has taken proactive measures, and intends to file for self-administration today. This approach allows the company to pursue a structured corporate restructuring process and to focus on securing a new investor aiming to champion HH2E AG’s vision for establishing an industrial scale platform of green hydrogen production in Germany. “We remain committed to maintaining continuity and stability in our operations as we work toward a long-term solution,” said Alexander Voigt, HH2E CEO. “I am convinced we will soon find a strategic partner who shares our passion for green energy and can support HH2E AG’s vision.”

𝐎𝐡𝐧𝐞 𝐌𝐞𝐧𝐬𝐜𝐡𝐞𝐧 𝐠𝐢𝐛𝐭 𝐞𝐬 𝐤𝐞𝐢𝐧𝐞 𝐄𝐧𝐞𝐫𝐠𝐢𝐞𝐰𝐞𝐧𝐝𝐞.  Auf der #HBEnergie wird Anke Brinkmann von HH2E diesen wichtigen Faktor mit HR-Führungskräften anderer Energieunternehmen, wie Colette Rückert-Hennen - EnBW Energie Baden-Württemberg AG, diskutieren. Handelsblatt Live Handelsblatt

Few in the world have built a large-scale green hydrogen plant like the HH2E-Werk we’re developing in Lubmin, Germany. HH2E's new technology mix requires collaboration with key partners, and Ingeteam is a perfect example. Power electronics, converters and rectifiers are essential to enable the #sun and #wind power we receive to be used by the HH2E-Werk electrolysers and high-capacity batteries. Ingeteam excels in this area. Thank you for the inspiring discussion! 🚀 Olatz Lejarza Loizaga, Iker Peña Gonzalez, Ingeteam Green H2 🚀 Ina Hahndorf, Udo Berninger, HH2E

A big step forward for Germany's green hydrogen sector: the Federal Network Agency has approved a core network spanning 9,040 kilometers. About 60% of the pipelines will be converted from existing natural gas infrastructure, while the rest will be newly constructed. By 2032, the network will have a feed-in capacity of 101 GW and a feed-out capacity of 87 GW, making it the largest hydrogen pipeline system in Europe. The 15 transmission system operators (TSOs) responsible for building and operating the network will invest €18.9 billion, with the project set for completion in 2032. This is great news for HH2E. Most of our planned green hydrogen production sites, including Lubmin and others not yet announced, are strategically located with direct access or close proximity to the core network. #H2Kernnetz Federal Ministry for Economic Affairs and Climate Action Bundesnetzagentur

Yesterday's TEDxBerlin Salon: "The Future of Energy" at the former freight terminal of the Berlin-Tegel airport was incredible. Now home to 24 innovative companies focused on climate solutions, the venue set the stage for inspiring TED talks and discussions by speakers like Judith Klose, Gerard Reid, Carla Hinrichs, Alexander Voigt, Chen (Chris) Gong, Mario Schirru, Volker Ratzmann, Dorina Döring, and Jan Lozek. We’re especially proud that Alexander Voigt was invited to speak, and we’d like to thank our business partners, investors, customers, and political stakeholders for joining us. While everyone in the energy sector is aware that we're not doing enough to prevent a climate catastrophe, the technologies and solutions to significantly reduce carbon emissions —while driving economic growth— are either already available or in a mature enough stage for immediate implementation. It's crucial to have more public discussions like the ones we witnessed yesterday, especially when research like that by Civey and the facts&figures revealed by Gerard Reid show that much of German society remains complacent, believing that past successes will carry us forward. The time for decisive action on energy transition is now. A big compliment to Stephan Balzer and the TEDxBerlin team for the amazing organization and to the .GUT Am Flughafen 1 team for the support. PIK - Potsdam Institute for Climate Impact Research, Letzte Generation, HSB Heat Storage Berlin GmbH, Future Energy Ventures, Alexa Capital, Civey, DHL

We at aireg - Aviation Initiative for Renewable Energy in Germany e.V. are proud to have signed the "Declaration on Green Aviation" at today’s Hamburg Sustainability Conference—a significant step forward for the future of sustainable aviation. This Declaration underscores the urgent need for global collaboration to accelerate the defossilization of aviation. It highlights the pivotal role of Sustainable Aviation Fuels (SAF) and calls for joint efforts to meet the UN’s 2030 climate goals. Key objectives include: - Strengthening collaboration between airports, airlines, manufacturers, and SAF producers. - Developing green aviation hubs powered by synthetic fuels. - Promoting innovation and knowledge sharing. - Exploring financial mechanisms for sustainable aviation projects. At aireg, we are fully committed to driving this mission forward and believe SAF is a crucial solution to reduce aviation’s climate impact. Together, we can achieve a more sustainable future for aviation. Many thanks to Bundesministerium für wirtschaftliche Zusammenarbeit und Entwicklung (BMZ), Deutsche Post und DHL, Sasol, Deutsches Zentrum für Luft-und Raumfahrt e.V., Griesemann Gruppe, HH2E, Hamburg Airport, HIF Global, Mabanaft, Sunfire, Zaffra #HSC #SAF #SustainableFuels #UN2030 #Defossilization #Sustainability

The Aurora Energy Research Hydrogen Conference never disappoints. Fantastic expert speakers delivered updated insights and fact-based research with remarkable clarity to an audience of around 500 energy sector professionals. Here are some key takeaways: 👉 In the last 12 months, at least 4.7 GW of electrolyser capacity has reached FID, marking a significant increase from previous years. 👉 By 2030, Germany is projected to lead Europe in hydrogen demand, with estimates ranging between 53-70 TWh. 👉 The new 13k legislation strengthens the competitiveness of green hydrogen production in Germany, positioning it against regions with a higher share of renewable electricity in their grids, such as Iberia and the Nordics. 👉 The initial hype has faded, shifting from the belief that hydrogen would solve all of the energy sector's problems, to the emergence of a market grounded in much-needed reality. The demand is there, and the means to develop production are beginning to take shape. The panel, moderated by Alexander Esser from Aurora, featured Nathalie Lemarcis Societe Generale , Alexander Voigt HH2E André Pina EDP Renewables and Pierre-Germain (PG) MARLIER Hy24. Together, they explored how to make hydrogen projects financially viable. 💡🌎 After the panel, Alexander Voigt expressed his excitement about the historic moment unfolding before us. A new energy market is emerging, and in a few years, society will likely forget these early stages—just as solar, wind power, and batteries are now taken for granted despite the initial doubts. He believes the green hydrogen sector will evolve faster than any previous development in the energy industry. A huge thank you to the Aurora Hydrogen Conference organization team members, moderators and all the speakers!

It is so wonderful to learn how the future is paving its way and to see how the hydrogen business is evolving in front of our eyes..we are all witnesses of a historic moment…the birth of the new energy age..in a few years, nobody will remember these early days as it was with batteries and PV, but much faster this time with green H2! Aurora Energy Research, thank you for creating these annual snapshots for us that enable us to realize what Change is. A big thank you to the community, and let’s #changethegameofenergy together 💪🤩