My guest for episode 126 of Cleaning Up with Michael Liebreich was Marco Alvera’, co-founder of clean energy project developer Zhero and CEO of TES-H2 . In our conversation, we focused on TES-H2, which is is building a terminal in Wilhelmshaven, Germany, to import what Marco calls “eNG”, or synthetic methane made from green hydrogen. I called the episode Subsidies Everywhere All at Once, and if you watch or listen to the episode, you’ll see exactly why.

During our conversation, Marco ducked and weaved through multiple variants of his business model. He’s a smart guy and a fast talker, so there was no way I could dissect all of them on the fly. What I’ll do here is a deep dive into just one of the pathways he is looking to develop, which lies at the core of TES’s eNG concept. TLDR: it’s ten units of subsidy for every one unit of commodity value.