The decision by the Ohlthaver & List (O&L) Group of Companies to sell its 51% shareholding in Cleanergy Solutions Namibia to H₂Infra NV, a subsidiary of Belgian company CMB.TECH, has raised some concerns in certain quarters which view the move as signaling a vote of no confidence in Green Hydrogen.
The latest development comes just two months after the Cleanergy facility was officially launched by Prime Minister Elijah Ngurare. It also follows the recent withdrawal by German energy company RWE from its preliminary agreement to purchase green ammonia from the Hyphen Hydrogen Energy project in Namibia. RWE’s withdrawal was attributed to a slower-than-expected demand for hydrogen and its derivatives in Europe.
“H₂Infra NV, a subsidiary of CMB.TECH, will become the sole shareholder of Cleanergy Solutions Namibia, acquiring 51% shares currently held by the O&L group. The transaction is pending approval from the (Namibian) Competition Commission,” O&L Chairman Sven Thieme announced in a memo.
Thieme said CMB.TECH was ideally positioned to lead Cleanergy forward, bringing its international expertise, innovation and investment capacity to strengthen the company’s contribution to Namibia sustainable energy future.
“As O&L, we are immensely proud of our role in co-founding Cleanergy and laying the cornerstone of Namibia’s green hydrogen future,” said Thieme.
Cleanergy Solutions Namibia has been driving the growth of Namibia’s hydrogen economy while contributing to the global shift towards clean energy. Leveraging the O&L Group’s expertise in renewable energy, combined with CMB.TECH’s proficiency in producing and applying future fuels, Cleanergy Solutions Namibia has been at the forefront of sustainable energy solutions.
As the world races to limit global warming and reach net-zero emissions by 2050, in accordance with the United Nation’s global roadmap, one of the key shifts required to ensure a sustainable future includes the transition to clean energy solutions. Since 2021, Ohlthaver & List (O&L) and CMB.TECH have been working together to leverage their unique expertise.
The highlight of the joint efforts has been the realisation of Cleanergy’s first project, the Hydrogen Dune, with a hydrogen production facility, refuelling station and hydrogen academy.
Thieme said O&L’s involvement in Cleanergy reflects the company’s “longstanding purpose of creating a future where we enhance life and our commitment to pioneering industries that empower Namibia’s economy and enable sustainable, future-ready opportunities.”
“While our shareholder chapter in Cleanergy comes to an end, our partnership story with CMB.TECH does not. We look forward to continued collaboration with CMB.TECH on future pioneering projects that advance Namibia’s and Africa’s energy transition,” Thieme said.
Commenting on the transition, a CMB.TECH said it was grateful for O&L’s role in the partnership.
“We are deeply grateful to O&L for their foundational contributions and collaborative spirit throughout our joint venture. Together, we successfully delivered Namibia’s first public green hydrogen refuelling station — a landmark achievement that demonstrates the power of partnership and innovation.
“As we assume full ownership, we want to reassure all stakeholders that Cleanergy’s future plans and projects will continue as planned. Our commitment to local impact, environmental responsibility, and innovation remains unwavering. With a growing team of employees, we are eagerly looking forward to the next project phases, including ammonia production, storage, berthing and pipeline development.”
O&L said it remains committed to supporting national sustainability priorities through innovation, collaboration and strategic investment while exploring growth opportunities that advance economic development, industrial diversification and long-term prosperity.
