HH2E’s 1GW Hydrogen Project in Lubmin Gets New Life With H2Apex Acquisition 

Rostock-based project developer H2Apex has taken over HH2E’s 1GW green hydrogen production plant located in Lubmin, Germany.

Through an investor agreement, H2Apex will acquire the insolvent green hydrogen company’s project subsidiary HH2E Lubminwerk to further its hydrogen development plans in northern Germany. 

The agreement stipulates that the transaction is contingent on the court’s approval of HH2E’s insolvency plan and the finalisation of this decision.

Furthermore, H2Apex is expected to commit €7 million towards financing the purchase.

Although HH2E had awarded a €45 million contract to Gerbrüder Karstens for the plant’s construction last year, the project failed to reach a final investment decision (FID).

Now equipped with the project’s assets, H2Apex aims to see the completion of the facility.

Since 2023, H2Apex has been working on its own 100MW hydrogen plant in Lubmin, with aspirations to expand this initiative to 600MW.

The initial 100MW phase is projected to become operational by 2028

By acquiring HH2E’s development, H2Apex now oversees two significant green hydrogen projects at the Greifswald Bodden.

The latest acquisition has the potential to attract several hundred million euros in investment during its initial phase and plans to grow the project from 100MW to an eventual 1GW.

Construction and operations will be managed directly by H2Apex, drawing upon its experience from past projects and its robust network of partners.

“Lubmin is the most promising location for the German hydrogen industry, serving as a key hub in the country’s core hydrogen network and benefiting from its proximity to offshore wind farms,” explained Peter Röbner, CEO of H2Apex.

This newly acquired project complements our existing engagement perfectly. It allows us to leverage synergies, enhance efficiencies, and gain a strategic competitive advantage.

H2Apex took over the project after HH2E entered self-administration last November, triggered by the withdrawal of financial support from its majority shareholder, Foresight Environmental Infrastructure Limited (FGEN), for the proposed 1GW hydrogen facility.

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