Presentation

HydrogenPro is a Norwegian hydrogen company that was listed on Euronext Growth in October 2020. The company will together with its consortium partners Mitsubishi and ABB deliver turnkey large-scale green hydrogen plants for industrial use. It targets a fast-growing hydrogen market, which is forecasted to play an essential role in global decarbonisation. HydrogenPro will mainly target industries already heavy in consumption of hydrogen, replacing grey hydrogen with green, avoiding industries in need of much end-user infrastructure.

The company has been chosen for four green hydrogen projects, all larger than any plant built globally to date. In total, these amount to 353 MW. HydrogenPro has over the last two years completed feasibility and FEED studies for these projects, with only final permitting approval and FID remain before contracts are awarded. In addition, there is significant add-on potential from these key projects and a large pipeline of potential projects.

HydrogenPro will deliver the hydrogen systems and components in the consortium offering, with the key competence of the company being engineering, developing and integrating large-scale hydrogen systems. Included in the system, HydrogenPro offer the largest electrolyser in the world and an electrode coating technology increasing efficiency 15%. For a large-scale system, HydrogenPro will be able to reduce costs per unit hydrogen produced 20% compared to competing solutions.

The partnership with Mitsubishi goes beyond the consortium model. Mitsubishi seeks to make a standardised hydrogen system together with HydrogenPro, and for it to be an integrated part of Mitsubishi’s complete hydrogen offering in the US. Mitsubishi Heavy Industries also has skin in the game, owning almost 10% of the outstanding shares in HydrogenPro.