ENGIE New Ventures has invested in the German start-up MAGNOTHERM to develop innovative hydrogen liquefaction technology using magnetic refrigeration, supporting the establishment of a sustainable hydrogen supply chain in Europe.

Target Company Overview

MAGNOTHERM is a German start-up established in 2019, located in Darmstadt. The company is at the forefront of developing a revolutionary hydrogen liquefaction process utilizing magnetic refrigeration technology. Recently, MAGNOTHERM raised €6.8 million to further enhance its innovative solutions. The core of its technology is based on the magnetocaloric effect (MCE), which allows for the efficient liquefaction of hydrogen, and offers applications beyond hydrogen, including cold production for refrigeration and air conditioning.

Currently, MAGNOTHERM’s hydrogen liquefaction technology is in its developmental stage. Through this investment from ENGIE New Ventures, MAGNOTHERM gains access to the extensive knowledge and resources provided by ENGIE’s Research & Development center, CRIGEN, which specializes in green gases, including hydrogen and biogas. Furthermore, both MAGNOTHERM and ENGIE are collaborating as part of the EU-funded HyLICAL project, aimed at constructing Europe’s first magnetic hydrogen liquefactor.

Industry Overview in Germany

The hydrogen industry in Germany is rapidly evolving, driven by government initiatives aimed at attaining climate neutrality by 2045. With the increase in hydrogen demand, particularly following the enactment of the Hydrogen Stra