Lausanne/Espoo – Alpiq has acquired a majority stake in Finnish hydrogen pioneer P2X Solutions with immediate effect. This will make the Lausanne-based energy group one of the leading companies in Northern Europe in the production of green hydrogen.
Alpiq is the new majority shareholder of the Finnish hydrogen pioneer P2X Solutions. According to a press release, the investment was made primarily through a capital increase. In addition, the energy group has acquired the minority shareholding of a previous institutional investor. As a result, Alpiq now holds 54.9 percent of the shares, with the option to increase its stake to up to 100 percent by the end of 2028. P2X Solutions will continue to operate in partnership and as an independent company. Founding partner Herkko Plit remains CEO and shareholder.
P2X is a Power-to-X developer. Power denotes the temporary surplus of green electricity above demand and X stands for the form of energy or the intended use. The company focuses on the production and sale of green hydrogen and synthetic fuels, green hydrogen for various industries or as fuel for trucks, e-methane for feeding into the gas grid or e-methanol for the international market.
Accordingly, P2X intends to expand from the Finnish market to other Nordic countries in the next step. “Thanks to Alpiq, we can optimize our value chain of renewable electricity, green hydrogen and e-fuels,” P2X CEO Herkko Plit is quoted as saying.
P2X Solutions is building Finland’s first industrial-scale green hydrogen production plant in the town of Harjavalta in southwest Finland. The plant is scheduled to go into operation at the beginning of 2025.
According to the announcement, this acquisition will result in synergies with Alpiq’s power purchase agreement business in the Nordic countries, B2B sales activities and the expansion of Alpiq’s offering to include hydrogen, as well as Alpiq’s flexibility expertise in asset management. ce/mm
