Everfuel A/S has entered into a strategic collaboration with HyVC ApS (Japanese consortium), a joint venture between ITOCHU Corporation and Osaka Gas Co. with the ambition of accelerating development of green hydrogen production and sharing of related technology, know-how and best-practices.

The agreement includes a commitment by the Japanese consortium to support a potential future Everfuel equity financing, subject to certain conditions.

Everfuel, ITOCHU and Osaka Gas plan to leverage their combined competencies and resources to develop and commercialise green hydrogen, initially targeting the German, Benelux and the Nordic countries, and over time expanding into new markets.

"We look forward to collaborating closely with ITOCHU and Osaka Gas on commercialising green hydrogen at scale in Europe. They bring a wealth of experience within development of complex energy and process facilities as well as deep understanding of energy markets which is highly complementary to our business. Their investment in Everfuel and commitment to support future long-term growth is a validation of our strategy and reflects a strong shared ambition of decarbonising industry and transport,” said Jacob Krogsgaard, Founder & CEO, Everfuel.

“Everfuel has in a short space of time become a leader within the European green hydrogen market supported by dedicated long-term owners, an experienced management team and a competent organisation. They have a strong platform for business development, project execution and operations covering the entire green hydrogen value chain, which we will further expand into wider markets by leveraging our global connection with various customers who need to decarbonise with hydrogen and its derivatives. We look forward to supporting the execution of Everfuel’s growth strategy over the coming years as a significant and active shareholder,” said Jun Inomata, Executive Officer, ITOCHU (Chief Operating Officer, Metal & Mineral Resources Division).

"We are thrilled to be joining Everfuel’s green hydrogen project alongside ITOCHU as involved shareholders," said Keiji Takemori, Senior Executive Officer, Head of Energy Resources & International Business Unit of Osaka Gas. "