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- Tree Energy Solutions
Tree Energy Solutions Valuation, Funding & Investors
Tree Energy Solutions is valued at $708M as of July 2022.
Last Tree Energy Solutions valuation
$708M
Series B · Jul 2022
Last Tree Energy Solutions funding round
$149M
Series C · Apr 2024
Cumulative funding Tree Energy Solutions raised
$245M
across 3 funding rounds
Key investors in Tree Energy Solutions
HSBC
E.ON
Fortescue
Zodiac Maritime
UniCredit
Azimut Group
About Tree Energy Solutions
Tree Energy Solutions is a green hydrogen producer deploying gigawatt-scale plants powered by solar PV and onshore wind in high-resource locations. Valencia, Spain-headquartered since 2021, it develops facilities in Spain, Australia, and Latin America, targeting industrial offtakers with pipeline-connected supply. Projects include the 1 GW Magallanes plant in Chile.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$708M (Jul 2022)
Tree Energy Solutions Valuation
Tree Energy Solutions is currently valued at $708M, based on its Series B in July 2022.
The $66M round included HSBC, UniCredit, E.ON and Zodiac Maritime.
Tree Energy Solutions valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2022 | Series B | $708M |
Tree Energy Solutions Funding History
Tree Energy Solutions has raised a total of $245M across 3 funding rounds.
Tree Energy Solutions' first fundraising round was a $66M Series B in July 2022. The most recent completed round was a $149M Series C in April 2024.
Tree Energy Solutions funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2024 | Series C | HSBC; Reggeborgh; Azimut Group; E.ON; Zhero; OG Energy; Zodiac Maritime; Fortescue; AtlasInvest | $149M | - | Tree Energy Solutions is a global green energy company specializing in the production of e-NG (electric natural gas derived from green hydrogen), with a mission to deliver reliable and affordable green energy through giga-scale projects. The company focuses on decarbonizing the energy chain and building world-scale hydrogen projects by 2030. Tree Energy Solutions completed a Series C funding round on April 6, 2024, raising $151.62 million from a consortium of leading investors including AtlasInvest, Azimut, E.ON, Fortescue Future Industries, HSBC, Ofer Global, Reggeborgh, Zhero, and Zodiac Maritime. Prior to this round, the company had raised €65 million in a second funding round and €140 million in a third round to support development of its key e-NG projects and accelerate progress toward Final Investment Decision (FID). TES has entered strategic collaborations with major energy companies such as TotalEnergies to develop large-scale e-NG production units in the United States, with plans to benefit from tax credits under the 2022 Inflation Reduction Act. The company attracted interest from global financial institutions and international energy corporations, demonstrating growing market appetite for renewable and low-carbon hydrogen solutions aligned with the European Green Deal and decarbonization objectives. |
| Oct 2022 | Strategic investment | Fortescue (lead) | $30M | - | Tree Energy Solutions (TES) is a green hydrogen and energy infrastructure developer focused on importing green molecules to Europe, combining hydrogen with recycled CO2 for a net-zero energy loop. In October 2022, Fortescue Future Industries (FFI), a subsidiary of Fortescue, announced a strategic collaboration with TES to develop the world's largest green hydrogen integrated project, targeting industrial-scale production initially in Australia, Europe, the Middle East, and Africa. The partnership leverages FFI's renewable energy production expertise and TES's European market access. FFI committed €130 million (US$127 million) total, with €30 million (US$29-29.7 million) as an equity investment to acquire a shareholder stake in Tree Energy Solutions B.V., and €100 million (US$98-99 million) for constructing TES's green hydrogen import terminal in Wilhelmshaven, Germany, gaining a 30% stake in TES subsidiary Deutsche Grüngas und Energieversorgung GmbH. First green hydrogen deliveries are expected by 2026, with initial supply of 300,000 tons of green H2. The investment was funded from FFI's unutilised capital commitment of US$1.1 billion as of June 2022, revising FY23 capex guidance to US$230 million. TES counts other strategic investors like E.ON, HSBC, UniCredit, and Zodiac Maritime. The project aims to produce renewable energy for 1.5 million households and supports Fortescue's supply agreement with E.ON for 5 million tonnes of green hydrogen from mid-decade. |
| Jul 2022 | Series B | HSBC; UniCredit; E.ON; Zodiac Maritime | $66M | $708M | Tree Energy Solutions (TES) is a clean energy company focused on green hydrogen and renewable energy solutions. TES has raised capital to scale green energy projects amid growing demand for hydrogen technologies. The July 2022 round contributed to TES's total funding of $247.24M across three rounds as of the latest data. Investors in subsequent rounds like the April 2024 Series C ($151.62M) overlapped with E.ON, HSBC, and Zodiac Maritime, alongside new participants such as AtlasInvest, Azimut, Fortescue Future Industries, Ofer Global, Reggeborgh, Zhero, and undisclosed investors. The company's funding trajectory continued with a larger Series C in 2024, reflecting investor confidence in its positioning in the renewable sector. |
Who has invested in Tree Energy Solutions?
10 investors have backed Tree Energy Solutions across its funding rounds, including HSBC, E.ON, Fortescue, Zodiac Maritime, UniCredit and Azimut Group.
Lead investors include Fortescue.
Tree Energy Solutions Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Jul 2022 | ||
| 2 | Participant | Jul 2022 | ||
| 2 | Participant | Jul 2022 | ||
| 2 | Lead | Oct 2022 | ||
| 1 | Participant | Apr 2024 | ||
| 1 | Participant | Jul 2022 | ||
| 1 | Participant | Apr 2024 | ||
| 1 | Participant | Apr 2024 | ||
This data is available for Pro users. Sign up to see all 10 Tree Energy Solutions investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialTree Energy Solutions Competitors
Tree Energy Solutions competitors include listed companies like Array Technologies and Canadian Solar, and private ones like Amogy, NEXT Renewable Fuels, Koloma and Fulcrum Bioenergy.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $700M | - | ||
| Private | - | - | $666M | - | ||
| Publicly listed | $1.3B | $34M | $650M | 1.1x | ||
| Publicly listed | $5.6B | $546M | $798M | 1.5x | ||
| Private | - | - | $800M | - | ||
| Private | - | - | $603M | - |
Tree Energy Solutions Public Comps
Tree Energy Solutions is still privately-owned, but its public comps include Voltalia, Hyliion, Mogan Enerji, Array Technologies, Ballard Power Systems, Energy Vault, PNEGroup, General Fusion, Zhejiang Netsun and Suzhou Thvow Technology.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $677M | $163M | 5.0x | 4.8x | 20.9x | 13.9x | |||
| $3M | ($60M) | 192.1x | 60.8x | (11.2x) | (13.9x) | |||
| $223M | $105M | 3.0x | 1.8x | 6.3x | 3.4x | |||
| $1.3B | $34M | 1.2x | 1.1x | 47.5x | 7.5x | |||
| $99M | ($85M) | 2.7x | 2.6x | (3.2x) | (4.6x) | |||
| $204M | ($83M) | 4.6x | 3.6x | (11.4x) | (46.2x) | |||
| $265M | $49M | 5.7x | 3.7x | 31.0x | 14.7x | |||
| - | ($25M) | - | - | (28.3x) | - | |||
This data is available for Pro users. Sign up to see all Tree Energy Solutions competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Tree Energy Solutions
| When was Tree Energy Solutions founded? | Tree Energy Solutions was founded in 2019. |
| Where is Tree Energy Solutions headquartered? | Tree Energy Solutions is headquartered in Brussels, Belgium. |
| Is Tree Energy Solutions publicly listed? | No, Tree Energy Solutions is a private, VC-backed company. |
| What is Tree Energy Solutions' valuation? | Tree Energy Solutions was last valued at $708M in its Series B in July 2022. |
| How much funding has Tree Energy Solutions raised? | Tree Energy Solutions has raised $245M across 3 funding rounds. |
| What was Tree Energy Solutions' last funding round? | Tree Energy Solutions' last funding round was a $149M Series C in April 2024. |
| Who are Tree Energy Solutions' investors? | Tree Energy Solutions' investors include HSBC, E.ON, Zodiac Maritime, Fortescue, Reggeborgh, UniCredit, Azimut Group, Zhero, OG Energy and AtlasInvest. |
| Which companies are comparable to Tree Energy Solutions? | Companies comparable to Tree Energy Solutions include Amogy, NEXT Renewable Fuels, Array Technologies, Canadian Solar, Koloma and Fulcrum Bioenergy. |
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