HyFive signs term sheet to offtake up to 50% of output from Gijón e-methanol plant
In Singapore, Manifold Times reported that renewable hydrogen and e-methanol producers HyFive announced the signing of a comprehensive term sheet for the offtake of up to 50% of the production from its Musel GreenMet project in Gijón, Spain at an agreed and mutually acceptable price range.
HyFive is a vertically integrated company focused on developing strategically located, industrial-scale renewable hydrogen and hydrogen derivatives—such as e-methanol—for the chemical, shipping, and aviation industries across the Iberian Peninsula and other Southern European countries, according to the report.
“The market is clearly moving from initial expressions of interest toward more substantial commercial commitments — admittedly at a slower pace than many anticipated, but steadily and with increasing depth,” HyFive said.
By locating its projects in major port areas, HyFive said it can leverage synergies with established infrastructure operators, enhance cost competitiveness, and ensure efficient downstream logistics, the report added.
Category: Fuels
