H2APEX Group SCA, a developer and operator of green hydrogen plants, announced its financial results for the first quarter of 2026, reporting a 67% increase in revenue to EUR 3.5 million compared to EUR 2.1 million in the same period last year. The growth was primarily driven by a new Project Management Consultancy (PMC) contract for the 100 MW IPCEI project "WAL - Hydrogen from Lubmin" and increased sales of green hydrogen from the company's own production. In the first three months of 2026, H2APEX delivered 17 tonnes of green hydrogen.
The company's EBITDA remained stable at EUR -7.1 million, in line with the prior year. The order book stood at EUR 23.7 million as of March 31, 2026, slightly up from EUR 22.6 million at the end of 2025, reflecting scheduled project completions and new service contracts. H2APEX confirmed its revenue forecast for the full year 2026 of between EUR 14 million and EUR 16 million.
Bert Althaus, CFO of H2APEX, stated: "The first quarter of 2026 reflects the initial successes of our strategic shift: we have significantly increased our revenue compared with the same quarter last year whilst further improving the quality of our revenue base. With the PMC contract for the WAL project, we are securing continuous revenue contributions throughout the financial year."
The company highlighted the recent increase in Germany's greenhouse gas reduction quota as a positive development for the green hydrogen market. H2APEX aims to contribute to a secure and independent energy supply through its projects, including those in green aviation fuels, which enhance resilience to geopolitical influences.
The interim report for Q1 2026 is available on the company's website at https://h2apex.com/en/. H2APEX traces its origins to 2000 and has focused on clean hydrogen since 2012, developing plants with electrolysis capacity up to 2 GW for industrial decarbonisation.
