• The Danish Board of Business Development  is granting up to DKK 88,8 million to a partnership between Topsoe, Denmark’s Technical University and  Aarhus University . Topsoe is to receive up to DKK 80,3 million of the total grant sum.
• The funds will support innovation activities related to upscaling and globally deploying Topsoe’s SOEC technology.
• Topsoe is committed to lead the way to ensure the needed electrolyzer capacity is available in the near-term to help meet Danish and European Power-to-X and green hydrogen ambitions.

In the light of the ambitious Danish Power-to-X strategy and EU’s green hydrogen goals, which have now increased the demand for electrolyzers with the recent REPowerEU, Topsoe recently announced its intention to build the world’s most advanced industrial scale electrolyzer production facility to speed up commercial-size Power-to-X. The production facility will be able to support the GW-size green hydrogen projects that many developers have at the planning stage.

Now, the Danish Board of Business Development supports this work by granting up to DKK 88,8 million to a partnership between Topsoe, DTU and AU, as the partners’ research and innovation is strongly called for to address key technology risks needed for upscaling.

Topsoe CEO, Roeland Baan, said:
“Power-to-X technology will play a central role in the green transition, and right now we see a strong momentum for green energy solutions throughout Europe. At Topsoe, we are pioneering the Power-to-X landscape with our SOEC technology offering 30% higher efficiency than remaining technologies and even at a lower cost, and we are extremely happy to receive the support and trust from the Danish Board of Business Development to further this technology and pave the way for a faster deployment of Power-to-X nationally and globally.”

As a comment to the funding, Danish Minister for Industry, Business and Financial Affairs Simon Kollerup, said:
“Power-to-X and hydrogen can become a new business adventure for Danish companies, and it is fantastic to see so many ideas about future green fuels coming from Danish companies. It speaks directly to the Danish strategy on Power-to-X to industrialize and upscale production making it easier and more competitive to produce green hydrogen. Power-to-X fuels as replacement for fossil fuels will contribute to lowering CO2 emissions in Denmark and globally and it is vital that the companies have the will, ambitions, and skills to participate in the development. And we can see that they have.”

Funding is a prerequisite to meet Danish Power-to-X strategy and EU’s green hydrogen goals
Currently, a sufficient regulatory framework is missing to mobilize investment towards green hydrogen projects, which makes public funds critical for Topsoe’s large-scale ambitions in SOEC electrolysis.  

The funding from the Danish Board of Business Development is the first phase in funding Topsoe’s scale up activities in Power-to-X. Further national and international funding is necessary for the ambitious goals of Denmark and the Danish Power-to-X strategy. Topsoe is committed to lead the way to ensure the needed electrolyzer capacity is available in the near-term.

Facts about the funding

• Danish Board of Business Development supports the development of green innovative technologies with a total of DKK 225 million from the REACT-EU program
• 19 projects applied for funding, 14 projects were awarded funding 
• The projects must spend the funding no later than August 2023
• The funding is part of a strategy by the Danish government to develop and advance green hydrogen and fuels. 

Facts about Topsoe’s SOEC manufacturing facility

• Topsoe is building the globally most advanced industrial scale electrolyzer manufacturing facility to enable a faster deployment of Power-to-X globally.
• When in operation, it will be the world’s most advanced electrolyzer manufacturing facility with 500-megawatt capacity per year and with an option to expand to 5 gigawatts.
• The plan is to place the manufacturing facility in Herning, Denmark.