Denmark's Export and Investment Fund (EIFO) has just signed an agreement on the financing of Topsoe's first factory, which will supply electrolysis units for Power-to-X.

The factory will be built in Herning, and the guarantee from EIFO amounts to DKK333 million ($48.7 million). 

The electrolysis units will primarily go to export markets and be included in Power-to-X projects. The plant is expected to be fully operational by 2025 with an annual capacity of 500MW electrolysis units with more projects in the pipeline.