Hyphen gets €5m from Development Bank of Southern Africa

By Confidente Reporter

Hyphen Hydrogen Energy and the Development Bank of Southern Africa (DBSA) have closed the €5m funding facility at the COP28 Climate Conference. DBSA announced the plan to fund Hyphen Hydrogen Energy’s project in October 2023.

The €5m will go towards the partial funding of engineering, environmental, and socio-economic development workstreams related to the project’s development up to the final investment decision.

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Hyphen Hydrogen Energy CEO Marco Raffinette said the collaboration and partnerships with African lending institutions will be critical to the success of the Hyphen project.

“This funding facility shows these partnerships in action. It will provide crucial funding for developing and integrating the project and, subsequently, the socio-economic development of Namibia,” Raffinette said.
According to Raffinette, Hyphen and the DBSA are aligned with the common purpose to drive the future of renewable energy in Namibia and beyond.
DBSA executive project preparation Catherine Koffman said the Hyphen Hydrogen project demonstrates the catalytic impact of the private sector and development capital collaboration.

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