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Unigel invests in green hydrogen

Unigel invests in green hydrogen

July 27, 2022 | Thierry Ogier
Brazilian chemical group plans to spend $120 mln and start production by the end of 2023

Corporate & Sovereign Strategy Equity Brazil Capital Markets Energy ESG Biofuels

Brazilian chemical company Unigel said it plans to invest $120 million to build a green hydrogen plant in the state of Bahia and start production by the end of 2023. "The funding will come from two sources: first from export credit agencies that will finance the purchase of electrolyzers and also from Brazilian development banks," Luis Felipe Fustaino, head of investor relations at Unigel, told LatinFinance, referring to state-run lenders BNDES and Banco do Nordeste (BNB). Germany's thyssenkrupp

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