Energiefonds Overijssel funds first hydrogen project

16 January 2024

Energiefonds Overijssel recently issued a €2 million loan to a hydrogen producer H2-GO. This is the fund's first hydrogen financing and the first hydrogen project in Overijssel. H2-GO contributes to solving grid congestion and to the greening of transport.

Smart Energy Hub

H2-GO is using financing from Energiefonds Overijssel to produce and sell hydrogen on a large scale in the region. In addition, H2-GO has used the financing to build an electrolyser with the Drents Overijsselse Delta Water Authority. This installation converts water into hydrogen and oxygen using sustainable electricity. The electrolyser will thus become part of the Smart Energy Hub at the Hessenpoort business park near Zwolle. By matching local supply and demand and by intelligently switching between sustainable electricity, gas (including hydrogen) and heat, the hub will relieve the strain on the electricity grid.

Willem Dubbelman, Investment Manager at Energiefonds Overijssel:

‘With the financing of H2-GO, the fund is contributing to solving grid congestion and to making the transport sector greener, as hydrogen is a sustainable fuel alternative. Furthermore, the construction of the electrolyser together with the water board is an innovative solution. This not only reduces energy consumption in Hessenpoort, but there is a strong indication that the use of the produced oxygen also leads to a reduction in the emission of nitrous oxide, an even more harmful greenhouse gas. These are positive developments in Overijssel, which show where hydrogen can offer a solution.’

See also StartGreen helps make hydrogen projects 'bankable'

Nice yield

The project delivers an annual saving of 555,556 litres of diesel and 218,458 kWh of electricity. This is equivalent to a saving of 22.2 TJ of energy and a reduction of 1,841,132 kg of CO2 emissions per year. The electricity required for the hydrogen-oxygen installation is already fully green and has therefore not been included in this calculation. To put it in concrete terms: with H2-GO's annual hydrogen production, a passenger car can drive 1 million kilometres per year.