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Author: kersavond

Climate finance: EIB advises STOFF2 on project financing for innovative technologies

The European Investment Bank (EIB), one of the world’s largest climate financiers, has signed an advisory agreement with STOFF2 to provide financial advisory services under the InvestEU Advisory Hub programme. Under this agreement, STOFF2 will be supported in the preparation of potential project financing. The InvestEU Advisory Hub aims to promote key investments across Europe in support of EU policy priorities such as the European Green Deal.

Sebastian Sipp, Managing Director of STOFF2: “With our Zinc Intermediate Electrolysis, STOFF2 has developed a technology that combines hydrogen production and battery storage in one device, enabling affordable and reliable 100% renewable energy 24/7. We are very pleased to have the EIB on our side with its long-standing project and financing expertise. The exchange with the EIB enables us to take further steps in project development and sensible project financing”.

Location advantage: STOFF2 develops future technology at the transformation location Berlin-Tegel

Since September 2022, STOFF2 has been part or a cooperation partner of the Urban Tech Republic (UTR) at the location of the former Berlin-Tegel Airport. In the huge former cargo hangar, around 15 young companies are currently working there on innovative technologies, products and applications that enable a climate-neutral energy and economic system. Where planes used to take off and land every minute, a development and implementation cluster for the energies of the future has now emerged. An ideal location for the development and production of STOFF2 technology. The employees of the companies at the site benefit from close cooperation, intensive exchange and joint ideas. Berlin-Tegel is thus a prime example of a “cooperative economy” from which all participants benefit.

Sebastian Sipp, Managing Director of STOFF2, is enthusiastic about the location: “With the move to Tegel, STOFF2 has not only taken a decisive further step in the development of the company. We have also found a very inspiring environment that not only offers optimal working conditions, but also enables valuable exchange within the .GUT network. These are the best prerequisites for continuing to take off with STOFF2”.

Statement on the energy transition by Sebastian Sipp: “Don’t wait, start”.

This guest article appeared in a slightly amended version in the energate Messenger on 06.07.2023.

The German government’s PV strategy has attracted a lot of public attention. Many became aware of the PV potential in Germany for the first time. At the same time, it is becoming clear that despite accelerated electricity grid expansion, it will not be possible to fully integrate the increasing shares of solar and wind power into the electricity grid.

Storage and sector coupling plants are therefore necessary. These plants can store the electricity quantities not absorbed by the electricity grid or convert them into green hydrogen and thus make them usable across sectors. The necessary technologies have been developed and are ready for the market. However, the hardware capacities for widespread use of these technologies are still lacking.

The opportunities for a climate-neutral industrial revolution are immense. We should (re)build a complete renewable value chain. From cell and module production as hardware for solar power generation to battery and electrolyser gigafactories. Otherwise, Germany will remain an energy importer and become a technology importer.

In concrete terms, we need instruments that better secure venture capital investments, such as KfW guarantees, subordinate shareholder loans from KfW to young technology companies, and the associated willingness to secure the purchase of raw materials. In this way, we can minimise our dependence on raw materials in the long term.

“We don’t wait, we start” should be the new motto. For the energy transition and for Germany as a business location, there could not be a better time for a climate-neutral industrial revolution.

Interesting facts, simply explained: Why do we need hydrogen?

In times when binding climate protection targets lie ahead and time is pressing, hydrogen is of crucial importance. Sun and wind, our renewable energy sources, are not always available and cannot be controlled. This is where hydrogen comes in, because it can be stored excellently and can be used when the sun is not shining and the wind is not blowing.

Today, around 75 percent of our energy comes from gaseous or liquid sources, primarily from fossil fuels. In the future, around 70 per cent of our energy will come from green molecules. In this context, it is impressive to note that all electricity storage facilities in Germany together can hold energy for just 15 minutes for the whole of Germany, while all gas storage facilities together can store energy for four months. Hydrogen thus enables the cost-effective and long-term storage of large amounts of energy.

As a leading industrial and technology location, Germany is dependent on a reliable energy supply. Hydrogen is the key to a successful transformation to climate neutrality. Particularly important is that the production of hydrogen by means of electrolysis creates a new business approach for renewable energy plants. This prevents surplus energy from being shut off and not remunerated.

The expansion of renewable energies knows no natural limits and is becoming more and more cost-effective, so that ever greater quantities of green hydrogen will be available. With the intelligent interaction of green electrons and green molecules, we can successfully implement the energy transition.