US clean fuel producer secures $50 million investment from Hy24

Clean fuels producer and developer StormFisher Hydrogen has secured a $50 million commitment from Hy24’s Clean Hydrogen Infrastructure Fund, a low-carbon hydrogen asset manager, to boost its clean fuel production projects in North America.

Through the strategic partnership with Hy24, StormFisher aims to accelerate its projects pipeline, reach final investment decisions (FIDs), and catalyze the transition to low-carbon energy solutions.

The company’s current project pipeline includes several facilities across the United States (Texas, Kansas, Minnesota) and Canada (Ontario region). Together, the projects will have the capacity to convert up to 1.8 GW of renewable energy from solar and wind into RFNBO e-fuels such as green hydrogen, e-methanol, green ammonia, and e-methane.

According to StormFisher, the most advanced project, which is located in North Texas, is expected to reach FID in early 2026 and will have an e-methanol production capacity of more than 120,000 tonnes per year.

Earlier this month, the company invited maritime, refining, petrochemical, aviation, and other parties to participate in its Expression of Interest (EOI) for the procurement of clean methanol volumes from the 200 MW facility.

StormFisher Hydrogen said it was committed to making “a significant contribution” to the development of North America’s e-fuel production capacity, which is critical for decarbonizing hard-to-abate industries such as maritime, aviation, and chemicals, and helping establish the United States as a key supplier to the global market.

With previous investment from ARC Financial Corp. and the new investment from Hy24, the company is expected to deploy several billion dollars of capital over the next decade, with its clean fuel production facilities creating approximately 50 permanent full-time jobs per site.

For Hy24, this marks the first direct investment in North America, contributing to the advancement of clean fuel deployment in the region while supporting StormFisher Hydrogen’s export ambitions to European and Asian markets.

Pierre-Etienne Franc, Co-Founder and CEO of Hy24, commented on the partnership: “We are pleased to make our first direct investment in North America to support the growth of StormFisher Hydrogen. The company can leverage its energy platform approach, strong offtaker strategy, and a favorable international regulatory landscape to deploy its robust pipeline of e-Fuels projects and drive its export ambitions to European and Asian markets. These clean energy solutions present a significant opportunity for North America in its pursuit of energy security, economic growth, and its trade and continued leadership in the sector.”