Markets Insider
Summary
2G Energy AG, one of the leading international manufacturers of gas-powered combined heat and power (CHP) systems, received an order in April for the delivery of a hydrogen-powered CHP system of the agenitor 404c H2 type from a company in the energy sector in North America. This is the first hydrogen project that 2G has received on the American continent.
The customer has its own electrolyzer and consequently large volumes of hydrogen, which will be converted into electricity and heat as needed with the help of 2G's H2 CHP system.
"Having already sold several hydrogen CHP units to European countries outside Germany and especially to Japan, we are now pleased that our hydrogen solutions are also gaining recognition in North America. Our first successful placement of a hydrogen CHP in North America is also an incentive to further strengthen and expand our global technology leadership in hydrogen," comments CEO Christian Grotholt. "All other CHP systems with 2G engine concepts that we deliver can also be converted for operation with hydrogen or biogas at a later date. For example, retrofitting can be performed cost-effectively on-site where the system is located as part of a major scheduled overhaul."
In total, 2G has already sold four fully hydrogen-powered systems to date during the current financial year. Further projects are currently under negotiation and will lead to new order intake over the course of the year.
"New order intake for CHP systems powered by alternative gases grew by 39% in Q1 2022 compared to Q1 2021, and now account for well over one third of our new order intake," notes CFO Friedrich Pehle. "Many lean gas projects, such as in the area of gas from purification plants or at landfills, have gained tremendously in profitability with the new price levels for thermal and electrical energy, and sustainably so."
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