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P2X Solutions receives public funding to build Finland’s first green hydrogen production plant – A great leap towards an emission-free welfare society.

12/20/2021

Press Release - P2x Solutions

P2X Solutions, a Finnish pioneer in green hydrogen and power-to-x technology, has received approximately EUR 26 million grant for new energy technology and large-scale demonstration projects from the Ministry of Employment and the Economy to build Finland’s first industrial scale green hydrogen production plant and methanation unit in Harjavalta. In addition, the Climate Fund has granted the company a capital loan of EUR 10 million. The total investment planned by P2X Solutions is approximately EUR 70 million.

The emergence of the hydrogen market will play a significant role in combating climate change and achieving Finland’s emission reduction targets. Green hydrogen is produced emission-free by electrolysis from water using renewable electricity. Renewable electricity is generated e.g. by wind power, which is under construction in Finland in large quantities. Part of the green hydrogen produced by P2X Solutions is planned to be further processed into renewable synthetic fuels, such as synthetic methane. It enables the use of zero-emission fuels in existing vehicles, providing a fast way to achieve significant emission reductions. The capacity of the planned green hydrogen production plant in Harjavalta Industrial Park is 20 MW.

“The grant decision of the Ministry of Employment and the Economy and the financing decision of the Climate Fund are important steps towards starting the production of green hydrogen in Finland. Green hydrogen and further processed renewable fuels are key to significant emission reductions where electrification is challenging. The involvement of the state, as well as investors and partners , reflect a strong and broad confidence in our operations and a shared desire to achieve a cleaner future. We are now creating a green hydrogen market, keeping pace with the rest of Europe and moving towards an emission-free welfare society,” says Herkko Plit, CEO of P2X Solutions.

The goal of P2X Solutions is to start construction work on the plant in Harjavalta in the autumn of 2022, and commissioning of the plant is planned for the first half of 2024. The company intends to implement other green hydrogen production facilities with the same concept.