Power2X has acquired HyCC, adding a portfolio of green hydrogen and clean molecule projects in the Netherlands and Germany as the sector shifts from early-stage development to large-scale delivery.

The transaction, announced on 24 February, strengthens Power2X’s position in clean fuels and feedstocks for industrial customers in north-west Europe. Financial terms were not disclosed.

HyCC has developed hydrogen and clean molecule projects in locations including Amsterdam, Delfzijl and Rotterdam. Under the combined structure, these projects are expected to benefit from increased scale, broader development capabilities and access to capital.

Power2X focuses on clean hydrogen, renewable methanol and sustainable aviation fuel for the decarbonisation of aviation, maritime and heavy industry. The company said the enlarged portfolio has the potential to unlock significant investment in the coming years as projects advance toward execution.

Occo Roelofsen, founder and CEO of Power2X, commented: "With the acquisition of HyCC we are adding valuable and strategic projects in key industrial hubs to our portfolio. It brings us into a new phase where we have increased focus on delivery and a more diverse group of industrial customers."

Marcel Galjee, managing director of HyCC, remarked: "Our ongoing focus on water electrolysis has enabled us to develop a strong portfolio of green hydrogen projects at HyCC. Now it is time to move to the next phase of these projects, and with Power2X we have found the perfect partner to do so."

Power2X said the deal reflects wider consolidation in the clean molecules market as developers transition from concept and permitting stages into construction and large-scale delivery.

According to the company, clean molecules such as green hydrogen are expected to play a key role in strengthening Europe’s industrial competitiveness and energy security. It added that a stable and reliable regulatory framework across Europe, particularly in the Netherlands and Germany, will be essential to enable project realisation.

In 2023, Canada Pension Plan Investment Board (CPP Investments) entered into a long-term investment partnership with Power2X to support the development of clean hydrogen and derivative fuel projects, including the company’s EFR project in the Port of Rotterdam.

HyCC positions itself as an industrial partner for green hydrogen supply and circular chemistry solutions, developing water electrolysis projects to deliver renewable hydrogen to industry.

The acquisition further consolidates Power2X’s footprint in north-west Europe as it seeks to scale clean molecule production for industrial decarbonisation.