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Klesch Group company logo
Corporation
ENERGY & UTILITIES | Energy Trading & Marketing
klesch.com

Investments

1

Funds

1

Partners & Customers

1

About Klesch Group

Klesch Group specializes in the production and trading of oil, chemicals, and metals, and the trading of other global commodities and related financial derivatives.

Headquarters Location

16 Palace Street

London, England, SW1E 5JD,

United Kingdom

+44 (0)20 7493 4300

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Latest Klesch Group News

EU’s Move To Replace Gas With Hydrogen Held Up By Red Tape

Sep 9, 2022

9:01 PM IST, 09 Sep 2022 9:01 PM IST, 09 Sep 2022 9:01 PM IST, 09 Sep 2022 Save ADVERTISEMENT (Bloomberg) -- Europe’s move to green hydrogen, a potential substitute for natural gas, is being held up by European Union proposals relating to its production, according to an industry group. (Bloomberg) -- Europe’s move to green hydrogen, a potential substitute for natural gas, is being held up by European Union proposals relating to its production, according to an industry group. A number of green hydrogen projects in Europe have already been put on hold or delayed by regulatory uncertainty, said Daryl Wilson, executive director of The Hydrogen Council, an industry group. The EU’s draft proposal on the matter was subject to public consultation in June, and is still a long way from becoming law. So-called green hydrogen is made from water using an electrolyzer powered by renewable sources and the technology has long been viewed as a solution for steel, chemicals and other carbon-intensive industries seeking to cut emissions. Relative to other energy sources, the economics for hydrogen have improved in Europe as natural gas last month surged to about ten times its usual level. Even so, projects to make green hydrogen, also known as renewable hydrogen, are small and mostly still in pilot stages. “The draft rules for qualifying hydrogen production in Europe -- as well as imported hydrogen -- as renewable have indeed been and remain a major concern for the industry,” Wilson said by email. Certifying the hydrogen as green may prove difficult under the EU’s current proposals. Klesch Group, whose Heide oil refinery in Germany is at the center of a green hydrogen hub, highlights one of the sticking points: According to Klesch, the draft proposals stipulate that green hydrogen must be produced within the same hour as the associated green electricity. Without the benefit of using batteries, production will be limited to windy periods of the day for an electrolyser linked to a wind farm. That will push up costs and could lead to more idling and equipment wear, said Sandra Niebler, head of commercial and economics at Heide. Read more: Europe’s Green Hydrogen Rules Raise Costs for Industry Electric cars are generally considered a greener form of transport, yet they aren’t subject to any restrictions on when they are charged, said Wilson at the Hydrogen Council. And of course, EVs can be charged irrespective of whether the electricity comes from green sources or carbon-emitting fossil fuels. “It’s like having a Tesla that has to sit on the driveway for 70% of the time,” said Wilson. “Uncertainty around rules that work against the economics is a problem.” The Klesch project includes cement maker Holcim AG and the local utility as partners, making it typical of such projects in Europe. The company is among several German oil refiners to outline plans to build a green hydrogen electrolyzer. Shell Plc’s Rhineland refinery in Germany was the first in Europe to start a pilot but plans to expand it appear to have stalled for now. Shell recently announced its intention to build an electrolyzer in the Netherlands, though. BP Plc has yet to take a final investment decision on an electrolyzer at Lingen in Germany. More stories like this are available on bloomberg.com ©2022 Bloomberg L.P.

Klesch Group Investments

1 Investments

Klesch Group has made 1 investments. Their latest investment was in Kem One Innovative Vinyls as part of their Other Investors on .

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Klesch Group Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

Other Investors

Kem One Innovative Vinyls

Yes

Date

Round

Other Investors

Company

Kem One Innovative Vinyls

Amount

New?

Yes

Co-Investors

Sources

Klesch Group Acquisitions

1 Acquisition

Klesch Group acquired 1 company. Their latest acquisition was Equinor - Denmark Refinery Business on June 10, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

6/10/2021

$99M

Acquired Unit

1

Date

6/10/2021

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Acquired Unit

Sources

1

Klesch Group Fund History

1 Fund History

Klesch Group has 1 fund, including Klesch Capital Partners LP.

Closing Date

Fund

Fund Type

Status

Amount

Sources

8/6/1997

Klesch Capital Partners LP

Restructuring/Distressed Debt

Closed

1

Closing Date

8/6/1997

Fund

Klesch Capital Partners LP

Fund Type

Restructuring/Distressed Debt

Status

Closed

Amount

Sources

1

Klesch Group Partners & Customers

1 Partners and customers

Klesch Group has 1 strategic partners and customers. Klesch Group recently partnered with AspenTech on September 9, 2020.

Date

Type

Business Partner

Country

News Snippet

Sources

9/8/2020

Licensor

United States

Heide Refinery selects AspenTech’s GDOT software to achieve optimized production

Heide Refinery selects AspenTech 's GDOT software to achieve optimized production

1

Date

9/8/2020

Type

Licensor

Business Partner

Country

United States

News Snippet

Heide Refinery selects AspenTech’s GDOT software to achieve optimized production

Heide Refinery selects AspenTech 's GDOT software to achieve optimized production

Sources

1

Klesch Group Team

2 Team Members

Klesch Group has 2 team members, including , .

Name

Work History

Title

Status

A. Gary Klesch

U.S. Department of Treasury

Founder

Current

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Name

A. Gary Klesch

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Work History

U.S. Department of Treasury

Title

Founder

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Status

Current

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