German investment firm Wermuth Asset Management GmbH (WAM) has recently made an equity investment in Plagazi, a Swedish green hydrogen technology company, signaling a strategic move to contribute to Plagazi's expansion plans.
Plagazi specializes in cutting-edge technology capable of converting various types of waste, including non-recyclable materials, into green hydrogen through plasma gasification—a process involving exposure to temperatures exceeding 3,000°C. The company is recognized for its expertise in developing and constructing plasma gasification plants, currently engaged in multiple projects across Europe.
One notable project in Plagazi's pipeline is the Köping Hydrogen Park in Sweden, where the planned facility aims to annually produce 12,000 tons of green hydrogen from 66,000 tons of unrecyclable waste. Additionally, the facility will provide the municipality with 10 MW of district heating.
WAM's equity investment, facilitated through its Green Growth Fund 2 (GGF2), is intended to support Plagazi's growth trajectory. The asset manager also envisions injecting additional capital from its forthcoming Clean Industrialization Fund (GGF3), targeting a substantial EUR 1 billion (USD 1.09bn) to bolster the growth of portfolio companies and their environmentally disruptive technologies.
Jochen Wermuth, Managing Director and Founder of WAM, expressed optimism about Plagazi's waste-to-hydrogen technology, citing its versatile and feedstock-agnostic approach. He emphasized the potential of Plagazi's role as a waste-recycler, hydrogen-producer, and carbon-capturer, signaling a shared vision to shape the future of the European circular hydrogen economy.
The investment underlines the growing interest and support for innovative technologies in the green hydrogen space, aligning with broader initiatives to foster sustainable and circular economies across Europe.
