Gen2 Energy and SEFE Securing Energy for Europe (SEFE), via its subsidiary WINGAS GmbH, have signed a Transaction Term Sheet for the delivery of green hydrogen. This defines the terms and conditions for a final Sales and Purchasing Agreement and represents as such a major step to realize the import of green hydrogen from Norway to Germany.
Earlier in December 2022, a Memorandum of Understanding was signed between SEFE and Gen2 Energy. By signing this Transaction Term Sheet the companies confirm their commitment to succeed in establishing a supply chain for green hydrogen between the two countries.
The Term Sheet represents significant progress on Gen2 Energy’s path to delivering green hydrogen from their first production plant in Mosjøen, Norway, and provides the company with credible evidence of market interest and commitment, a vital element towards a final investment decision for the hydrogen plant and related supply-chain.
Frédéric Barnaud, Chief Commercial Officer of SEFE says: “Together with our Norwegian partner we have made significant strides in aligning our strategies and conditions for the successful delivery of green hydrogen in the near future. The signing of Term Sheet empowers SEFE to enter more advanced discussions with our valued end-users. This milestone paves the way for innovative and environmentally friendly solutions to meet the energy demands of the German market.”
Jonas Meyer, Chief Executive Officer in Gen2 Energy, says: “We are excited about what we have achieved with SEFE since the MoU was signed some months ago. This Term Sheet not only reinforces our commitment to providing green hydrogen but also represents a key step towards securing the necessary investments to make our project a reality.”
SEFE Securing Energy for Europe GmbH (SEFE) is an integrated midstream energy company headquartered in Berlin, Germany. SEFE is active in energy trading & portfolio management, sales, and storage operations and has its strongest presence in Germany and the United Kingdom. SEFE employs around 1.500 people and supplies more than 50.000 customers, in particular industrial customers, and municipal utilities in Germany and seven European markets. With sales volumes of more than 210 TWh gas SEFE plays a pivotal role in providing energy supply stability for Germany and Europe. SEFE is owned by the Federal Republic of Germany.
About Gen2 Energy
Gen2 Energy is a Norwegian company dedicated to developing, building, owning and operating an integrated value chain for green hydrogen. The company targets to have several large-scale production facilities for green hydrogen located in Norway and Northern Europe as well as an efficient distribution network ensuring safe and reliable delivery for customers. We also aim to use low/zero emission fuel in our distribution system, taking a wholistic view on the environmental footprint of the hydrogen value chain.
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