Photo: Illustration only; Courtesy of Enagas

Haldor Topsøe signs $50.9m loan with EIB for green hydrogen research

Danish CO2-reduction tech company Haldor Topsøe has signed a €45 million ($50.9m) loan agreement with European Investment Bank to support green hydrogen technologies research.

Haldor Topsøe has ambitions to become the global leader in carbon emission reduction technologies by 2024. Thus, it signed this loan agreement with the EIB to support its R&D investments in that domain.

In addition, the European Fund for Strategic Investments (EFSI) is supporting the EIB financing. It is also the main pillar of the European Commission’s Investment Plan for Europe.

Roeland Baan, CEO of Haldor Topsøe, said: “Transitioning society towards clean energy solutions is vital in the battle against climate change. This funding will support our research into innovative H2 technologies that will ultimately enable our customers to produce low-carbon products.”

The R&D investments support Haldor Topsøe’s ambition to develop new technologies. These are to push its customers towards the increased use of renewable energy. It also strives for the carbon neutrality of industrial operations.

In line with this goal, the company specifically focuses on R&D activities with the highest potential for reducing carbon emissions.

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EIB vice-president Christian Kettel Thomsen“Haldor Topsøe’s research and development tackles key challenges of our times by protecting our climate and the environment; (…) fully in line with the EIB’s climate action objectives.”

A clear focus is on R&D investments for the development of new hydrogen technologies to reduce carbon emissions. Some of the technologies are for the production of renewable fuels; such as green hydrogen, green ammonia, biofuels, and electrified methanol.

In conclusion, Valdis Dombrovskis, EC executive vice-president, said: “We need businesses and their innovation potential to deliver on the European Green Deal and our goal of carbon neutrality by 2050. This example is a great contribution to these efforts.”