Watson Farley & Williams (“WFW”) advised Ilios Hydrogen Canada Limited (“Ilios”) on the development of its first green hydrogen production projects in Italy.
Canada-based Ilios is a private international producer and distributor of green hydrogen, managed in Italy by Salvatore Magazu. It has a pipeline of five modular sites under development in Italy, each designed to produce an initial 20 MW of carbon-neutral supply, with an option to expand the capacity to up to 100 MW per site.
In November 2023, a non-binding agreement was announced between Ilios and Pineapple Power Corporation PLC (“Pineapple”), a special purpose acquisition company listed on the London Stock Exchange. Under the terms of the agreement, Pineapple will acquire 100% of the issued share capital in Ilios.
The WFW Italy Energy team that advised Ilios on the corporate, administrative and permitting aspects of the transaction was led by Partner and WFW Italy Head Eugenio Tranchino, working closely with Partners Tiziana Manenti and Luca Sfrecola, and supported by Senior Associates Cristina Betti and Anthony Bellacci.