H2APEX Reports Significant Revenue Growth for 2024

H2APEX Group SCA, a developer of green hydrogen plants, reported a remarkable increase in revenue for the first three quarters of 2024. Revenue surged to EUR 25.2 million, a significant jump from EUR 3.7 million in the same period last year. This growth was driven by the development of hydrogen plants for industrial and energy sectors.

The company anticipates a total revenue of at least EUR 28 million for 2024, a revision from the earlier prediction of EUR 35-40 million. This alteration primarily stems from supply chain challenges affecting project timelines. Despite these hurdles, H2APEX secured contractually guaranteed revenue amounting to EUR 15.3 million.

The company expanded its workforce to support its growth efforts, now employing 143 full-time equivalents. While supply chain issues have posed challenges, H2APEX remains focused on developing proprietary hydrogen plants with investment decisions expected in early 2025.