H2V Product is a France-based developer of renewable hydrogen projects focused on producing green hydrogen via water electrolysis using low‑carbon electricity. The company’s projects target decarbonization of industrial processes and, over time, support for heavy mobility applications.
H2V Product structures and develops large-scale production sites through dedicated project entities, working with technology suppliers and industrial partners for engineering, construction, and long-term operations. Its activities typically span site development, permitting, power sourcing, grid and offtake arrangements, and project financing to enable industrial-scale hydrogen supply in key French industrial hubs.
A 40% stake acquisition in H2V Normandy aims to build a 200 MW electrolyzer for renewable hydrogen, reducing 250,000 tonnes of CO2 annually and supporting industrial decarbonization in Normandy.
Due to limited progress and financing issues, Nel will focus on other high-value projects. The H2V project's halt won't impact Nel's order backlog or future hydrogen initiatives in Europe.
The agreement involves designing, constructing, and maintaining renewable hydrogen plants in France, aiming to inject hydrogen into natural gas pipelines, with potential expansion to 700 MW by 2025.
The plant will use water electrolysis to produce hydrogen and methane, reducing CO2 emissions. Half of the €450M investment is for production equipment, aiming for technology transfer and future expansion.
