Press release|2.2.2022

P2X has passed an investment decision on the construction of Finland’s first green hydrogen production plant – Enersense’s investment in P2X is expected to be completed in February

Enersense International Plc   
Press release 2.2.2022 at 12:45 p.m.

EnersenseInternationalPlc, a creator of zero-emission energy solutions,announced on 8 December 2021and 31 January 2022 its plans to invest an amount of EUR13million in P2XSolutionsOy, a green hydrogen production company.Subject to the completion of the arrangement, which is expected to take place in February 2022, Enersense and P2X agree on a significant partnership in relation to both construction of the hydrogen production plant and later also in relation to the plant’s maintenance, subject to the fulfilment of certain conditions.

In relation to the investment, P2X announced on 2 February 2022 that it has passed an investment decision of EUR 70 million in respect of the construction of the Finland’s first green hydrogen production plant in Harjavalta. The capacity of the green hydrogen production plant to be located in the Harjavalta Industrial Park is 20 MW and the construction works will begin in the autumn 2022. It is expected that the construction works of the plant are completed during the first half of the year 2024.

Jussi Holopainen, CEO, Enersense International Plc:

”The investment decision relating to Finland’s first green hydrogen production plant is a significant issue. Hydrogen has a key role in the development of zero-emission energy solutions and energy storage. The hydrogen market is growing fast and it is great that there are Finnish operators in leading roles in the development.”

The goal of P2X is to implement further green hydrogen production plants with the same concept, and preparations for the following plants have already started. P2X produces green hydrogen completely emission-free by electrolysis of water using renewable energy sources. The company further processes some of the green hydrogen into renewable synthetic fuels, such as synthetic methane. The heat and oxygen generated as by-products of the process can be utilized in industrial processes.

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