Japan’s LNG trading giant Jera said it would invest about 15 million euros ($17.7 million) in Germany-based hydrogen tech firm Hydrogenious LOHC.
Jera said in a statement it had entered into an investment agreement and shareholders’ deal with Hydrogenious through its unit, Jera Americas.
This is a joint investment with Temasek, Chevron Technology Ventures and Pavilion Capital, while Jera Americas is a lead investor, it said.
Hydrogenius said in a separate statement it had raised in total 50 million euros ($59 million) to scale and commercialize its technology.
The German firm specializes in hydrogen storage and transportation technology. Its Liquid Organic Hydrogen Carrier (LOHC) technology bonds hydrogen to a non-toxic, non-flammable liquid, making it suitable for safe as well as efficient transportation and distribution, according to the firm.
Also, Hydrogenius is building the world’s largest LOHC plant in Dormagen, Germany, with commissioning scheduled in 2023.
“By investing in the company, Jera will strive to acquire knowledge of LOHC technology, a potential game-changer as a hydrogen energy carrier, and will support development of LOHC plants in Europe, North America, Asia, etc., thereby contributing to establishing hydrogen supply chains globally,” Jera said.
Jera has revealed several hydrogen-related developments lately, including plans to supply hydrogen to one of its LNG-powered plants in Japan as part of a pilot project.
