HyFive signs term sheet to offtake up to 50% of output from Gijón e-methanol plant

Renewable hydrogen and e-methanol producers HyFive on Tuesday (17 March) announced the signing of a comprehensive term sheet for the offtake of up to 50% of the production from its Musel GreenMet project in Gijón, at an agreed and mutually acceptable price range.

HyFive is a vertically integrated company focused on developing strategically located, industrial-scale renewable hydrogen and hydrogen derivatives—such as e-methanol—for the chemical, shipping, and aviation industries across the Iberian Peninsula and other Southern European countries.

The company said the signing marked a significant milestone for its company and for the e‑methanol sector. 

“The market is clearly moving from initial expressions of interest toward more substantial commercial commitments — admittedly at a slower pace than many anticipated, but steadily and with increasing depth,” HyFive said. 

By locating its projects in major port areas, HyFive said it can leverage synergies with established infrastructure operators, enhance cost competitiveness, and ensure efficient downstream logistics. 

These elements strengthen the economic resilience of its project pipeline and allow the company to continue advancing with confidence.

 At the same time, Hy5 said the regulatory momentum across Europe is unmistakable. 

“With RED III, FuelEU Maritime and ReFuelEU Aviation, the shift toward renewable fuels — including e‑methanol and methanol‑to‑jet SAF — is no longer a question of ‘if’, but ‘when’,” it added.

Yet one crucial point remains underestimated by many market participants: When demand becomes fully activated, alternative fuels will be structurally scarce.

• The pipeline of credible, large‑scale projects is limited.
• Development cycles are long, capital‑intensive, and subject to high technical scrutiny.
• Not all projects announced today will reach final investment decision — let alone deliver molecules at scale before 2030.

As highlighted recently by several industry voices — including major shipowners and downstream users — those waiting for “perfect certainty” risk finding themselves in a market where availability, not price, becomes the defining constraint.

“For maritime and aviation players facing fast‑approaching compliance milestones, securing access early to robust e‑fuel supply is rapidly becoming a strategic necessity,” the company added. 

“The term sheet we have signed is a clear example of how forward‑looking partners are already positioning themselves.”

Photo credit: HyFive
Published: 19 March, 2026