5th Hydrogen Finance and Investment Summit

What is the potential for hydrogen trade between Europe and its southern neighbours? What is required to integrate the European and Southern Mediterranean energy markets? What can we learn from the checkered past?What physical infrastructure is required to enable a liquid market for hydrogen? Who would pay for this?

• Funding for hydrogen mobility in Germany - status quo

• How to adress different market stages - from R&D to market ramp up

• Is public funding (still) the right way to go or do we need other instruments for a further roll-out.

• Implementation of the German National Hydrogen Strategy

 • Identifying the most promising investment opportunities in the hydrogen sector

• Evaluating the risks and returns of hydrogen projects.

• Discussing the role of public-private partnerships in attracting investments

 Panelists

 Jun Sasamura / Senior Analyst - Hydrogen / Westwood   Global Energy

 Dr Fatemeh Rezazadeh / Vice President, Hydrogen / Varo  Energy

 Frank Wouters / Senior Vice President of New Energy /   Reliance Industries

 Samuel Simon / Director - Energy and Infrastructure Advisory / JLL

 • Connecting supply and demand in a proper way

• Close alignment throughout the value chain: requirement of well-coordinated development of hydrogen industry and wider collaboration,

• Challenges: the gap between offtakers’ willingness to pay and achievable hydrogen price level at delivery points,and approach to narrow discrepancy.

Join us in this Speed Networking Session where you will be able to meet other participants at the forum! During this session, you will have the opportunity to engage with several leaders in a short amount of time and exchange business cards to take conversations beyond the forum

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• Confirming supply-demand scenarios and raising development  capital to FID

• Engaging regulators on potential business models

• Key principles of a regulatory business model for pipeline   transmission operators

 The widespread deployment of clean hydrogen will not happen without long-term finance. Despite significant interest in new hydrogen technologies, few projects have successfully been brought from pilot to full-scale development. Public and private sectors must work together to unlock capital flows and ensure hydrogen takes its critical place in a clean energy future.

• How can hydrogen projects be financed and what sources of finance are available?

• What support do governments need to provide to stimulate demand and mitigate financial risk for investors?

• Will the EU’s Clean Tech Act compete with the Inflation Reduction  Act? Is there an opportunity for successful transatlantic co-ordination?

• How can the development of certification and standardization  schemes be accelerated? What role will international collaboration play in this process?

Panelists

 Bart White / Managing Director, Head of Structured Finance / 

 SCIB UK Santander Corporate & Investment Banking

 William Mezzullo / Head of Hydrogen / Centrica

 Allan Baker / MD - Global Head of Energy Transition  

 (Energy+Group) / Societe Generale 

 Catherine Gras / CEO Storengy UK & Germany / Managing 

 Director - Storengy Deutschland GmbH

• Risks and mitigants from a banking perspective

• Financing structures – what works and what does not

• Importance of early bankability advice

 Ramon Van Den Dungen / Managing Director - Energy  

 Sector, Hydrogen Lead NL / ING

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 • Green Financing: Mobilizing capital for hydrogen infrastructure

projects

• Investment Strategies: Analysing market trends and potential

returns in the hydrogen sector

• Hydrogen Bonds: Unlocking financing solutions for the clean

energy transition

• Financial Models: Assessing risks and returns for hydrogen

investments.

• Diversifying Portfolios: Exploring investment funds that focus

on hydrogen companies.

 Panelist

 Thomas Fureder / Managing Director / Barclays Investment Bank

 Robbert Lagerweij / Director Project Finance / Rabobank

 Art Pithayachariyakul / Principal / CPP Investments |Investissements RPC

Tryggvi Thor Herbertsson / Head of Hydrogen Strategy and Partnership / Qair International

 • Capital Flow: Evaluating the direction of capital in the tax equity  market for hydrogen projects.

• Risk and Return: Assessing the revaluation of risk and return on existing assets in light of tax equity opportunities.

• Market Changes: Predicting the expected changes and shifts in the tax equity market for hydrogen projects.

• Bonus Qualifications: Understanding the criteria and qualifications  for bonus provisions in tax equity investment.

• Incentives and Direct Pay: Analyzing the effectiveness and practical  implementation of new provisions in tax equity investments.

• Compliance Documentation: Exploring how hydrogen projects  document compliance with tax equity regulations.

 • CPPIB approach to decarbonization and energy transition; thesis on hydrogen as a scalable sector

• Our platform investment approach: backing teams with follow-on capital makes nascent sector scalable for a large institutional investor

• Customer-back approach to hydrogen; existing industrial users of grey hydrogen key to first-wave FID

• Return drivers: project de-risking, portfolio synergies, and platform value

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Models for production of hydrogen from offshore wind – offshore, onshore, centralised & decentralised

Offshore hydrogen pipeline infrastructure and connection of hydrogen from offshore wind to shore

Requirements for finance of hydrogen from offshore wind projects

 • Main challenges on project development of Green H2 production  from OFW.

• Opportunities for suppliers

• Opportunities for investors

 After some key facts on the different available technologies, the underground potential in Europe and the development timeline, the presentation will focus on the role of hydrogen storage and the hurdles that need to be overcome to come to final investment decision.

 • Overview of our broad testing infrastructure - ranging from   relatively small cell- und stack test stands in the kW-range  all the way up to our multi-MW full system test benches

• We are involved in developing standardized testing protocols, to allow for comparable performance analysis, such that confidence in hydrogen assets can grow among financers and project developers

• I can show how these tests are set up in principle and what they  cover

• We can offer a sort of type certification testing, such that projects with large modular plants can be verified and validated and in the end de-risked, by putting one of the modules on our test benches

• Government grants and subsidies for hydrogen production are only temporary. The taxpayer will only consent to so much support. Thus, projects that rely on such financing are unsustainable in the longer run.

• Consequently, major projects will only be developed in regions where support is not needed, where energy and land are inexpensive and abundant – far from main markets.

• As a result of this transportation will be a major issue. Global trade will revolve around hydrogen derivatives that can easily be transported over long distances.

• So, the big question is which carrier should the industry bet on?

• Start with the European Strategy and the last information available as additionality, renewable hydrogen definition, geographic nd time rules, EU investment bank, etc.

• Continue with the Spanish strategy and the last updates as our new challenges on climate and environmental goals, as well as hydrogen KPAs.

• Once the Spanish and European Strategies are further developed, I will present the Spanish hydrogen projects to be further develop in the following short years up to 2025-2026.

• Other part for the European projects regarding the strategies.

• The last part is for the future challenges of the hydrogen sector, not only the public and private partnerships, but also the cost reduction with the economies of scale, as well as the new regulation to be further developed.

• Should we worry about technology?

• What are the barriers to financing of hydrogen projects?

• What can we learn from projects that are moving ahead?

• Can hydrogen ever be a global commodity?

• Infrastructure (Pipeline, Shipping) to establish global hydrogen supply chain network and Hydrogen carrier technology

• Key points of LOHC-MCH technology as hydrogen carrier (technology overview, technology development history & update)

• Ongoing global hydrogen supply chain projects by LOHC-MCH technology and target schedule for commercialization

 • Large scale green hydrogen production as a flexibility

in the energy sector

• Large scale hydrogen storage in salt caverns

• Large scale hydrogen transport via pipelines

• Industrial use in the steel industry

 • Analysis of medium-term trends influencing the hydrogen market's growth

• Understanding the current and projected near-term supply and demand dynamics for hydrogen

• Exploring forecasts for hydrogen supply, including production  capacities and distribution networks

• Assessing factors driving the increasing demand for hydrogen across industries and sectors

• Examining the potential impact of policy incentives and government initiatives on hydrogen growth

• Identifying challenges and opportunities for meeting the growing demand for hydrogen

Matti Malkamäki / Founder, Chairman of the Board / Hycamite TCD Technologies Ltd

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• Evaluating bankability: Exploring the financial community's perspective on assessing the viability of hydrogen hub projects for capital raising.

• Project financing: Understanding the key considerations and criteria for evaluating the bankability of hydrogen hub   projects.

• Risk assessment: Analyzing the financial risks associated with Hydrogen Hub Projects and Their Impact on Capital Raising.

• Funding Sources: Examining the Various Options Available for Raising Capital, Including Traditional Lenders, Private Equity, and Government-Backed Programs.

• Financial Models: Discussing the Development and Utilization of Accurate Financial Models to Evaluate the Financial Feasibility and Attractiveness of Hydrogen Hub Projects.

• Regulation: What is the role of regulation and how does it affect bankability?

• The Importance of Thorough P2X Feasibility Studies:  Assessing off-take, cost efficiency and scalability is crucial, as it sets a strong foundation for commercial success.

• Selecting Appropriate and Efficient Technologies for P2X:                                                                                 Emphasize the significance of strategically  choosingtechnologies that contribute to lowering the Levelized Cost of X (LCOx) and strengthening the overall business case.

• Biogas in P2X Projects:                                            Focus on the strategic development of Power-to-X projects from a biogas perspective, underlining the commercial value of biogenic CO2. Explore how effectively coupling biogas with the production of eMethane and eMethanol can open new avenues for business growth.

Valley

• How are banks and investors viewing the pros and cons in hydrogen development?

• What are the turn-ons and turn-offs to hydrogen financing, and where’s the capital coming from?

• Barriers to entry for hydrogen financiers: are the current project finance models sufficient considering the scale of the projects?

• How to make projects still viable given rising costs and supply chain constraints? How does tax equity for offshore wind work

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 • Integrating of variable renewable energy through digital twins

• Scaling up of Ez

• From medium scale grid connected projects to large scale isolated grid projects

• Different project development practices from energy and oil&gas

 • Production of hydrogen

• Hydrogen in road and rail transportation.

• Hydrogen in aircraft.

• Hydrogen in shipping

Renewable power plants investing in hydrogen have emerged as a promising solution to provide, stable power to the grid. This session focuses on successful business models, fundraising strategies.

• Strategies for developers to attract funding and investments for their green hydrogen initiatives.

• Overcoming challenges and regulatory considerations in scaling up green hydrogen projects

• Leveraging public-private partnerships to enhance project viability and accelerate deployment.

• Identifying key market opportunities and potential for collaboration within the green hydrogen sector

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• Policy. What are the pull and push policies that are required?

• Technology. A look back of RE industry and a forward wish to electrolytic suppliers.

• Market and key stakeholders. Other key enablers of industry sustainability.

Examining the regulatory actions inside the European Union (EU) that are promoting the growth of a hydrogen economy is the main objective of this session. Key topics include reviewing current policy support across Europe, examining the effectiveness of EU hydrogen policies in driving growth, investigating the policy measures required to stimulate hydrogen consumption, and considering the updated hydrogen taxonomy in Europe.

• An analysis of the current policy environment supporting   hydrogen development in the EU - An assessment of how well EU hydrogen policies are working to promote growth

• Determining the necessary policy changes to encourage a rise in hydrogen demand.

• Examining the new hydrogen taxonomy in Europe and its effects on the sector - Taking into account

Panelists

Tobias Bühnen / Policy Advisor / Gas Infrastructure Europe (GIE)

Imran Abdulla / Associate Director | Energy System Decarbonisation | Hydrogen & CCS / Guidehouse

Ryo Kogure / VP Hydrogen Supply Chain & Infrastructure, European Markets / Mitsubishi Nederland B.V.