Erlangen based clean tech company Hydrogenious LOHC Technologies could win strong partners with Royal Vopak, Mitsubishi Corporation and Covestro. Hydrogenious LOHC Technologies GmbH operates worldwide offering innovative technologies in storage and supply of hydrogen in the fields of renewable energy, emission free fuel supply of vehicles as well as industrial use.
Initial investor in Hydrogemious LOHC Technologies is AP Ventures, venture capital fond specialising in new technologies dependent on platinum group metals. AP Ventures once again increases its 2014 investment. Alongside three corporate groups, each leading in its field of activities, decided to participate as strategic investors in Hydrogenious LOHC Technnologies. The overall volume of the investments amounts to EUR 17 million.
The new investors are Royal Vopak, worldwide leading in storage and distribution of mineral oil, gas and chemical products, Mitsubishi Corporation, worldwide known and Nikkei listed Japanese trading company with activities in finances, banking, energy, machines, chemistry and nutrition, and Covestro, one of world’s largest polymer companies, emerged from the plastic division of Bayer Group in 2015.
The advantages of the partnership are not limited to financial support. The strategic international investors are committed to developing the LOHC technology as an essential component of the international hydrogen infrastructure. The operational expertise of the new investors will enable international distribution of renewable energies via hydrogen.
TRACC LEGAL advised Hydrogenious Technologies in the transaction, led by attorney Matthias Jacobs, LL.M. AP Ventures has been advised by Linklaters, Royal Vopak by the dutch law firm NautaDutilh, Mitsubishi Corporation by a reputable German lawfirm and Covestro by its in-house legal department.