German green hydrogen company HH2E has initiated self-administration and a structured restructuring process after its majority shareholder, Foresight Group, declined further financing for its planned green hydrogen production facility in Lubmin. This facility, located near the Baltic coast in Western Pomerania, is projected to host 500 MW of electrolyzers and 2,000 MWh of batteries, targeting an annual production of 60,000 tonnes of green hydrogen by 2030.

Two months prior, HH2E had signed a €45 million contract with Gebrüder Karstens Bauunternehmung to begin construction on this facility, awaiting approvals under the German Federal Immission Control Act (BImschG) and final shareholder investment decisions. However, despite intensive discussions with Foresight Group, which became HH2E’s majority shareholder in May 2024, the group ultimately decided against the necessary financing. Consequently, HH2E and its subsidiary, HH2E Werk Lubmin GmbH, are legally required to initiate insolvency proceedings.

HH2E’s management is now actively seeking a new investor to sustain its vision for large-scale green hydrogen production in Germany. CEO Alexander Voigt expressed optimism, stating, “We are committed to maintaining stability in our operations as we seek a strategic partner aligned with our green energy goals.