HyFive

Type
Renewable Gases - Greenfield
Investment Date
2021
Jurisdiction
Spain
Status
Under Management

Description

In 2021, White Summit Capital founded HyFive, a Spain-based vertically-integrated green hydrogen company. This project stemmed from WSC’s conviction in the potential of green hydrogen as a crucial tool for decarbonisation, coupled with a desire to expedite the decarbonisation of Nortegas, its gas distribution asset.

The Iberian Peninsula is an ideal location for the cost-effective production and export of green hydrogen, owing to several factors. It boasts abundant renewable energy resources, leading to a low Levelised Cost of Energy (LCOE). Additionally, the region benefits from well-established logistical connections, an extensive natural gas network, and a relatively low population density, all of which further enhance its suitability for green hydrogen production and export.

Today, HyFive has partners in a diverse range of sectors, including hard-to-abate industries such as cement, steel, and mining companies, as well as mobility players and freight carriers. WSC aims to develop projects that are financially sound, strategically positioned, and tailored to meet the needs of its partners. With a robust pipeline of projects across Europe, HyFive aims to attain over 1 GW of installed capacity by 2035, thereby making a substantial contribution to the growth and widespread adoption of sustainable energy solutions.

Impact

Generation of clean, renewable hydrogen.
Decarbonising hard to abate industries.

Sustainable Development Goals