HydrogenPro ASA
0.03
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HydrogenPro ASA
GETTEX:R6Z
(Gettex)
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ROIC.AI
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- HydrogenPro ASA designs, engineers and supplies large-scale alkaline electrolyzer technology plants and systems for green hydrogen production to industrial clients worldwide. The Norway-based company, founded in 2013 and headquartered at Hydrovegen 55 in Porsgrunn, specializes in high-pressure alkaline electrolyzers featuring proprietary electrode technology; gas separation units; customized turn-key hydrogen production plants; R&D and FEED studies; and service and aftermarket support, all developed in cooperation with global partners and suppliers certified to ISO 9001, ISO 45001 and ISO 14001 standards. It targets applications including power-to-gas, refinery decarbonization, synthetic fuels, fertilizer and ammonia production, and steel manufacturing, with operations spanning Europe, the United States, Asia Pacific and other regions through R&D, sales and manufacturing facilities in Denmark, Germany, the US and China. HydrogenPro maintains strategic partnerships with industrial leaders such as ANDRITZ AG, Mitsubishi Heavy Industries Ltd. and, most recently, LONGi Hydrogen Technology (Xi'an) Co., Ltd., a subsidiary of LONGi Green Energy Technology Co., Ltd. In December 2024, the company secured NOK 70 million in equity from existing investors ANDRITZ and Mitsubishi via a private placement, alongside a conditional NOK 70 million investment and cooperation agreement with LONGi Hydrogen, subject to Chinese regulatory approval and expected to close in the first half of 2025 to support general corporate purposes, joint project bidding, product optimization and expanded manufacturing in China and Europe. Recent developments include the startup of a 350 MW manufacturing facility for third-generation electrode technology in Aarhus, Denmark; receipt of a EUR 16.5 million EU Innovation Fund grant in November 2024 for large-scale next-generation electrode production; completion of an electrode facility in Aarhus following the acquisition of intellectual property from Advanced Surface Plating ApS; establishment of a majority-owned joint venture with THM in Tianjin, China; listing on the main Oslo Stock Exchange in October 2024 (ticker: HYPRO.OL); ASME authorization in February 2024; and a landmark 220 MW purchase order from Mitsubishi for delivery in Utah, US.