JLEN Group to invest USD 10 mn in Germany-based green hydrogen plant: Guernsey-based investment firm JLEN Environmental Assets Group (JLEN) said it will invest EUR 9.2 mn (c. USD 10 mn) along with Berlin-based clean energy supplier HH2E and a number of investment funds in a green hydrogen facility with an annual production capacity of 6k tons in its first phase, Reuters reports. The green hydrogen plant — to be built and operated by HH2E in Lubmin — is expected to increase its electrolyzer capacity to 1 GW in upcoming phases and have a generation volume in excess of 60k tons annually when fully operational, the newswire notes. For context, 1 ton of green hydrogen generates the equivalent of 33 MWh in clean energy. A final investment decision on the project is expected within the coming months.

Toyota is increasing its focus on hydrogen-powered vehicles: Japanese automaker Toyota will focus on the sale of hydrogen-powered trucks and vehicles in Europe and China under a plan to sell 200k of such vehicles by 2030, Reuters reports, citing company executives. Toyota established a separate hydrogen-focused unit earlier this month aimed at boosting the application of fuel-cell technology into large scale uses, including industrial power generation and commercial trucks. The focus on China and Europe, which are both seeing a demand on hydrogen, will help slash costs for Toyota, Toyota's Chief Technology Officer Hiroki Nakajima said. The move by Toyota marks a shift from the Japanese automaker’s focus on passenger cars and the market in North America.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • The European Investment Bank approved a 25-year EUR 79 mn financing package for Djibouti to support desalination and wastewater treatment projects in the country. (Statement)
  • The world’s largest solar energy plant — located in a salt farm in the north of China and boasting a generation capacity of 1 GW — has been connected to the country’s electricity grid. (Global Times)
Tags: