Several European companies such as British BP, Repsol, and Norsk Hydro have either canceled or temporarily halted their green hydrogen projects due to increased costs, regulatory reasons, etc.

Finland's P2X Solutions has started its commercial green hydrogen production, making it the first company in Finland as well as in Europe. The company uses renewable energy, such as wind power which is one of the most abundant resources in Finland, which enables it to call the hydrogen it produces "green."

P2X Solutions' CEO Herkko Plit said that the investment decision had been made prior to the beginning of Russia's invasion of Ukraine in 2022, which caused inflation and fossil demand to increase again, slowing down the development of clean fuels.

The company has plans for two other similar facilities in Finland, with capacities of 40 MW and 100 MW, respectively.