TES raises €65mn to advance German gas import project

FID on green gas terminal at Wilhelmshaven expected next year as investors including HSBC and Eon back project

Belgium-based Tree Energy Solutions (TES), which is developing a clean energy import hub at the northern German port of Wilhelmshaven, has raised €65mn ($66mn) from a group of investors including banking group HSBC and energy company Eon. TES says the new capital should enable it to take FID by the end of next year on the project, which will initially import LNG before switching to synthetic methane for conversion to green hydrogen. Other investors joining the latest fundraise include Milan-based investment bank Unicredit and Zodiac Maritime, a London-based shipping company. “Our sustainable business model has attracted the interest of world-class industrial and financial players, demonstrat