Climate Horizon, a French company, is seeking more than €100 million in finance for projects including the production of hydrogen from biomass, the generation of carbon credits, and the leasing of vehicles powered by the clean fuel.
The business, which is owned by the Luxembourg-based family business Kouros, plans to build 10 hydrogen-distribution stations in France by the end of 2025, according to President Florent Bergeret in a January interview. Climate Horizon also plans to create approximately 15 green hydrogen and synthetic gas production plants in France, he added.
“We want to offer decarbonisation services to industries and heavy-duty transport,” said Bergeret, who joined Kouros and founded Climate Horizon after working 20 years at French energy giant Engie. “It’s for sectors that are the hardest to decarbonise.”
Climate Horizon is soliciting funds in collaboration with Nomura. Bergeret would not be more explicit about the group’s initial investment round, but the goal is said to be considerably more than €100 million.
With many European towns gradually restricting access to diesel trucks in order to reduce pollution, Climate Horizon believes that trucks fueled by hydrogen fuel cells will be more desirable than battery plug-in vehicles due to their higher autonomy.
Through its Carbonloop subsidiary, Climate Horizon plans to install units that produce synthetic gas and hydrogen by heating wood residues at extreme temperatures. The process creates biochar, which generates carbon credits by acting as a carbon sink. Biochar can then be sold to farmers, who add it to soil to retain nutrients.
Meantime, through its Hyliko unit, Climate Horizon plans to lease trucks powered by hydrogen fuel cells, deploy green hydrogen filling stations near clients’ facilities and ensure the certification of their carbon credits.
“This hydrogen provided by Hyliko is generating carbon credits, and that’s what’s interesting us,” Yann Colin, head of green mobility at French trucking company Bert, said in interview Wednesday. By the end of next year, the firm intends to rent five Hyliko vehicles, each of which will compensate for the emissions of more than two diesel trucks. According to Chief Executive Officer Ovarith Troeung, Hyliko has received preorders for 350 hydrogen trucks from a dozen clients.