Brussels-based Tree Energy Solutions (TES), a player in the green energy sector, announced that it has completed its third fundraising round, securing €140M.
The investment came from a global investor base comprising financial institutions and energy investors, including Azimut Group, Fortescue, E.ON, HSBC, O.G. Energy, Zhero and others.
Existing investors including AtlasInvest, Reggeborgh, Zhero, and Zodiac Maritime, participated in the funding round.
Marcel and Paul van Poecke, co-founders and co-chairmen of TES, in a joint statement, say, “Congratulations to Marco and the team for continuing the successful execution of our plan. We are delighted to be well supported by our existing investor base and to have attracted new, well-regarded, investors who share our vision for the company.”
Capital utilisation
The funds raised will be allocated towards the advancement of TES’ worldwide assortment of large-scale e-NG production projects, as well as its import terminal initiative in Wilhelmshaven, Germany.
Marco Alverà, co-founder and CEO of TES, says, “We are excited to announce this significant new milestone. The fundraising is an important step on our journey to deliver affordable e-NG and hydrogen.”
“This newly raised capital will be used to advance the development of our upstream and downstream e-NG projects internationally. Our sustainable business model has attracted world-class strategic and financial partners to continue executing on our projects.”
Democratising access to affordable green energy
Founded in 2019, TES specialises in producing e-NG (electric natural gas) from green hydrogen and aims to provide cost-effective green energy through large-scale projects worldwide.
e-NG is a hydrogen-based green molecule that shares identical chemical properties with natural gas. It is produced by combining green hydrogen with biogenic or recycled CO2.
e-NG offers the advantage of being easily transportable and storable using existing infrastructure. As a result, it serves as a green solution for industries and customers seeking to decarbonise their operations.
TES has forged strategic alliances with several energy firms such as TotalEnergies, Osaka Gas, Toho Gas, Tokyo Gas, Fortescue, and ADNOC. Through these collaborations, TES has cultivated a pipeline portfolio comprising large-scale e-NG projects spanning across North America, the Middle East, Australia, and Europe.
TES is also constructing a green energy hub in Wilhelmshaven, Germany, as a component of its pledge to decarbonise the German and neighboring energy markets.
The hub will facilitate the import of natural gas and e-NG, the export of CO2, and the production of green hydrogen and power.