What H2Brazil does

H2Brazil is a privately held Brazilian project developer building large-scale green hydrogen and green ammonia production infrastructure to serve domestic industrial off-takers and export markets in Europe and Asia. The company operates two named projects: H2X Minas Gerais, a flagship 820 MW (840 MW target by 2030) plant within Uberaba's Export Processing Zone (ZPE) on a 70-hectare site, and H2X Rio de Janeiro, a structuring-phase project at the Port of Açu Complex in Rio de Janeiro. Production is planned at 124,325 tons of hydrogen and 689,000 tons of ammonia annually at full scale, with an estimated production cost of €2.5/kg and a stated project IRR of approximately 15%.

The underlying technology combines alkaline and solid oxide electrolyzer cell (SOEC) stacks powered exclusively by solar and wind energy, integrated with IoT-based smart control systems for real-time monitoring and optimization, and structured as a modular plant for phased scalability from a 20 MW pilot (2026) to 840 MW full operation (2030). The business model is B2B enterprise sales of green hydrogen and ammonia under long-term supply contracts to four primary segments: agribusiness/fertilizers (up to 983,000 tons of NH₃/year for over 6 million hectares of farmland), heavy industry (steel, mining), mobility (capacity equivalent to ~250,000 fuel cell buses/year), and export markets. Strategic alliances with CEMIG (energy infrastructure), FIEMG (industrial/capital network), the City of Uberaba, and the Government of Minas Gerais provide institutional and policy support, while the ZPE and Port of Açu provide logistics and fiscal advantages for export.

The company is led by a three-person executive team — CEO Pedro Caçorino (physicist engineer with 20+ years in renewable energy), CFO Miguel Lourenço (corporate finance specialist in large-scale green hydrogen/e-fuels structuring), and COO Nathália Ervedosa (lawyer focused on strategic partnerships and offtake negotiations). The company is currently pre-revenue and in the project development/licensing phase, with the first producing asset scheduled for 2026 and full-scale commercial operations targeted for 2030.

Name

H2Brazil

Legal name

H2Brazil

Website

https://h2brazil.com.br

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

H2Brazil is a privately held Brazilian green hydrogen and ammonia project developer building large-scale electrolyzer plants — the 820 MW H2X Minas Gerais in Uberaba's ZPE and H2X Rio de Janeiro at Port of Açu — to serve industrial off-takers and export markets in Europe and Asia, with full-scale operations targeted for 2030.

Ownership category

akta.pro rank

Headquarters

HQ city

Lisbon

HQ country

Portugal

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Technology or R&D, Operations, Supply Chain, Personnel, Marketing or Sales

Revenue model

1. Green Hydrogen Sales: Production and sale of green hydrogen (H₂) to industrial off-takers in Brazil and export markets. H2X Minas Gerais targets 124,325 tons of annual hydrogen production for use in fertilizers, transport, steelmaking, and mining sectors.
2. Green Ammonia Sales: Production and sale of green ammonia (NH₃) derived from green hydrogen. H2X Minas Gerais projects 689,000 tons per year of ammonia production, serving the fertilizer/agribusiness market (supplying over 6 million hectares of farmland) and export markets (up to 1.2 million tons per year exportable).
3. Carbon Credit / Emission Avoidance Revenue: Potential revenue from carbon credits associated with avoided CO₂ emissions — estimated at over 2 million tons of CO₂ per year by replacing fossil fuels. Positioning Brazil as a green energy exporter to Europe and Asia.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

H2Brazil is a project developer that designs, builds, and operates large-scale green hydrogen and green ammonia production plants in Brazil. Its flagship facility, H2X Minas Gerais (820 MW, 70 hectares inside Uberaba's Export Processing Zone), combines alkaline and SOEC electrolyzers with solar and wind power to produce 124,325 tons of hydrogen and 689,000 tons of ammonia annually for industrial off-takers and export to Europe and Asia. A second project, H2X Rio de Janeiro, is being developed at the Port of Açu Complex.

Product overview

H2Brazil is a developer of green hydrogen and green ammonia solutions operating in Brazil. The company operates two main projects: H2X Minas Gerais, a 70-hectare production facility in Uberaba's Export Processing Zone utilizing alkaline and SOEC electrolyzer technologies with 820 MW total capacity, and H2X Rio de Janeiro, a port-based production platform at the Port of Açu Complex. Both projects focus on renewable energy production for domestic consumption and export markets, integrating solar and wind power with IoT-enabled smart control systems.

Differentiator

Problem solved

Functional benefit

Brands

• H2X Minas Gerais: Green hydrogen and ammonia production plant located in Uberaba's Export Processing Zone (EPZ/ZPE), featuring alkaline and SOEC electrolyzer technologies with 820 MW total capacity.
• H2X Rio de Janeiro

Products and services

• H2X Minas Gerais

Quantifiable outcome

• Green hydrogen production cost of €2.5/kg — among the most competitive globally
• +6 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and flagship.

• CEMIGcoreStrategic or Co-development PartnerCEMIG, a benchmark in clean energy in Brazil, contributes energy infrastructure and technical expertise to enable safe and efficient green hydrogen production. The partnership supports the project's energy supply chain and operational integration.
• FIEMG (Federação das Indústrias de Minas Gerais)coreStrategic or Co-development PartnerFIEMG connects the project to investors and supports capital attraction to Minas Gerais. The federation leverages its industrial network to facilitate partnership development and investor engagement for the H2Brazil project.
• City of UberabaflagshipStrategic or Co-development PartnerThe City of Uberaba provides institutional support and logistical incentives, positioning the municipality as a strategic hub for Brazil's energy transition. The municipal government offers regulatory facilitation within the Export Processing Zone (ZPE).
• Government of Minas GeraisflagshipStrategic or Co-development PartnerThe Government of Minas Gerais reinforces its commitment to innovation and sustainability by supporting H2Brazil, driving the green economy and creating jobs across the state. The government provides institutional backing and policy support for the project.
• Porto do Açu / Açu ProjectcoreStrategic or Co-development PartnerH2X Rio de Janeiro is developed in partnership with what is described as Brazil's largest private port complex, integrating green H₂ and derivative production with strong logistical and energy potential. Located on the northern coastline of Rio de Janeiro, the Açu Project is in structuring phase with partner prospecting underway.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• NEOM Green Hydrogen Company: Joint venture of ACWA Power, Air Products and NEOM building one of the world's largest green hydrogen and ammonia plants. Same business model as H2Brazil — large-scale green H2/NH3 project development — making it the most directly comparable global benchmark.
• Fortescue Future Industries: Fortescue's green energy arm developing multi-gigawatt green hydrogen projects globally, including ammonia for export. Closely matches H2Brazil's model of large-scale, export-oriented green H2/ammonia project development.
• HIF Global: Developer of e-fuels (green hydrogen-derived) projects in Chile, USA, Australia and Uruguay, using renewable power to produce carbon-neutral fuels. Same project-development DNA as H2Brazil with overlapping downstream molecules and export thesis.
• CWP Global: Developer of large-scale green hydrogen and ammonia projects across multiple continents with an export-focused, offtake-driven business model. Comparable to H2Brazil in project scale, multi-jurisdiction strategy and focus on green molecules for hard-to-abate sectors.

Emerging players

• Plug Power: US-based hydrogen fuel cell and electrolyzer company building green hydrogen production assets and offtake arrangements for mobility/industrial customers. Overlaps with H2Brazil on green H2 production, mobility demand segment and project development activity.

Broad incumbents

• ACWA Power: Saudi-listed power and green hydrogen developer with a global portfolio including the NEOM Green Hydrogen project. Larger and more diversified than H2Brazil but directly comparable in green H2 project development economics and emerging-market execution.
• Iberdrola: Spanish utility with a significant green hydrogen pipeline across Europe and Latin America (including Brazil). A larger incumbent operating broadly in renewables, but with overlapping green H2 ambitions and customer base as H2Brazil.
• Yara International: Global ammonia and fertilizer giant investing in green ammonia projects and offtake partnerships. Relevant as both a potential anchor customer for H2Brazil's green ammonia and a benchmark for green ammonia project economics.

Others

• ITM Power: UK-based PEM electrolyzer manufacturer and green hydrogen project developer. Comparable to H2Brazil through its electrolyzer technology overlap and its pursuit of large-scale green H2 offtake arrangements with industrial users.
• Nel ASA: Norwegian electrolyzer manufacturer supplying alkaline and PEM stacks to global green hydrogen developers. Comparable through its role as a likely technology supplier to H2Brazil's alkaline/SOEC architecture and as a benchmark for H2Brazil's proprietary electrolyzer claims.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/h2brazil

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about H2Brazil