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SFPIM, the investment vehicle of the federal state, continues its purchases of strategic holdings. It is buying part of the hydrogen branch of Liège-based industrial group John Cockerill.

Hydrogen is a potential CO2-free energy carrier for many industrial activities. H2 can also power cars, trucks and soon perhaps even airplanes. The European breakthrough depends on two things: can the hydrogen be produced and stored on a large scale and in a sustainable way, and will there be a network of regional pipelines?

In the news: Three new investors are pumping a total of 230 million euros into John Cockerill Hydrogen. That is a division of the industry group of the same name.

  • They include publicly traded energy technology company Schlumberger (SLB), with the backing of two public investors, SFPIM and Wallonie Entreprendre. The breakdown of the total amount remains confidential, but SLB is the largest of the three investors.
  • The division makes electrolysers, say generators of (green) hydrogen, and has now delivered 1,300 units worldwide.
  • As a reminder, electrolysis is the chemical separation process of extracting hydrogen from water, with the help of electricity. Only when that electricity comes from a renewable source, such as wind turbines, is it referred to as green hydrogen.

Strategic anchoring

Zooming out: SFPIM also recently stepped into metals company Umicore. "At SFPIM, we are committed to supporting innovative and sustainable technologies that drive the energy transition," said CEO Koen Van Loo in a press release. "Our investment in John Cockerill Hydrogen underscores that goal. This strategic investment not only strengthens Belgium's position in the global hydrogen economy, but also supports the decarbonization of the industry worldwide."

Another this: "But who was John Cockerill again?", you may ask. The British Belgian was the founder of the Belgian steel industry in the nineteenth century.

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