Greenlab's 100 MW PTX Project at Risk of Losing EUR 30M EU Funding Due to Stalled Progress
Greenlab Skive's 100 MW PTX project, the Greenhyscale initiative, risks losing EUR 30 million in EU funding due to stalled progress, with a critical deadline set for September 2025. Despite securing significant funding in 2021, the project's viability has been challenged by a sluggish hydrogen market and insufficient operational electrolysis capacity across Europe. Key deliverables are prepared, but difficulties in hydrogen sales remain a major obstacle.
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The Greenhyscale project, a 100 MW PTX plant by Greenlab Skive, is at risk of losing EUR 30 million in EU funding if progress is not made by September 2026. Despite securing DKK 223 million in EU funding in 2021, the project has been on hold for years.
Partners include Siemens Gamesa, Equinor, Everfuel, and Green Hydrogen Systems. The hydrogen market's current challenges have diminished the project's viability, with only 6 GW of operational electrolysis capacity in Europe compared to a target of 140 GW by 2030.
Greenlab's CEO, Thomas Helsgaun, indicated that key deliverables are prepared, but selling the hydrogen remains a significant hurdle. The deadline for deciding the project's future is September 2025, and failure to secure funding could jeopardize its realization. Other hydrogen ventures, including Green Hydrogen Systems and Blue World Technologies, have faced similar struggles, resulting in bankruptcy or restructuring.
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