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    Reference: 20220548
    Release date: 11 May 2023

    Promoter – Financial Intermediary




    The project supports the demonstration efforts of serial production by an innovative start-up bringing a new more performant technology to market. The product is a first-of-its-kind electrolyser stack of cells to be deployed within dedicated installations at customer industrial sites for producing green hydrogen. The promoter's business model consists in developing sales of manufactured stacks and after-sales services. The project will be located in the Rotterdam area (NL).


    The aim is to bring a new technology to market that helps lowering the Levelised Cost of Hydrogen (LCOH). The business plan foresees the rapid dissemination of the technology. Although electrolysers are growingly used for the supply of green hydrogen, they are still facing significant challenges including in operating performance energy efficiency and LCOH production. The project will lead to significant indirect greenhouse gas emissions savings by contributing to deploy the least cost solutions for the supply of green hydrogen. The project is therefore eligible under Article 309 point (c) common interest. Additionally, it contributes to foster innovation and skills, through the planned research, development and innovation activities and the interaction with universities, suppliers and customers in the field of electrolysers.


    Proposed EIB finance (Approximate amount)

    EUR 40 million

    Total cost (Approximate amount)

    EUR 106 million

    Environmental aspects

    The project complies with relevant EU and national environmental legislation and being small, its overall environmental impact is not significant. The products resulting from the project will help accelerate the deployment of electrolysers and green hydrogen, thereby support the decarbonisation of industry.


    The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions.


    Signed - 10/10/2023

    Under appraisal
    14 June 2023
    10 October 2023


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    The Netherlands Industry