- Joint venture P2X Europe to purchase CO2-neutral Power-to-X products (E-Fuels and petrochemical specialties) from corresponding projects and market them through the respective distribution channels
- H&R to build Power-to-Liquids pilot plant in preparation for market launch
- The two companies are thus extending their cooperation by a further joint venture
H&R Refining GmbH and Mabanaft GmbH & Co. KG have signed an agreement, subject to the condition precedent of necessary antitrust approvals being granted, to establish the joint venture P2X Europe. The joint venture will purchase carbon-neutral products such as E-Fuels and petrochemical specialties such as waxes from corresponding projects and market them through the respective distribution channels of Mabanaft and H&R. In this context, H&R is building a pilot plant at its production site in Hamburg. The green hydrogen already available there and carbon dioxide will be used to produce synthetic raw waxes and E-Fuels in a climate-neutral way in the so-called Power-to-Liquid process. Following the successful implementation of the 5 MWel electrolysis hydrogen project in 2017, H&R is thus realizing another major milestone in its sustainability strategy!
E-Fuels can be used in conventional combustion engines and thereby directly reduce the CO2 footprint of the vehicles without additional logistics costs. The existing engine technology can continue to be used as well as the existing filling station and transport infrastructure. The use of E-Fuels will therefore avoid the logistical challenges usually associated with e-mobility such as new charging stations, additional battery production and disposal. The Mabanaft Group aims to be one of the first companies in Germany to supply its customers with CO2-neutral E-Fuels through its extensive network of service stations and wholesale supply locations.
The joint venture also pursues the same sustainability goals for petrochemical specialties. Demand for sustainable raw materials is also growing rapidly in the industries that require these products, such as cosmetics and pharmaceuticals. Many customers are increasingly looking to add climate-neutral, hydrogen-based synthetic components to their portfolio of products that were previously based mainly on fossil raw materials.
P2X Europe fosters sustainable decarbonization
H&R and Mabanaft see themselves as innovation and market leaders for hydrogen-based products and business models. With the joint venture P2X Europe, they want to make their contribution to a sustainable decarbonization of their respective industries.
Both partners will have an equal share in the joint venture company, which will be based in Hamburg after the necessary approvals under cartel law have been granted. The business of the joint venture will be conducted by Volker Ebeling, who was nominated by Mabanaft GmbH & Co. KG, and Thorsten Frick, who was appointed by H&R Refining GmbH.