HydrogenPro Partners with J.H.K. Group for Small-Scale Green Hydrogen Plants in Europe
Key Ideas
- HydrogenPro collaborates with J.H.K. Group to develop 5-50MW green hydrogen plants in Germany, Austria, and Benelux, focusing on smaller-scale projects with advanced electrolyser technology.
- Despite declining momentum in large-scale green hydrogen projects, HydrogenPro's Q3 2024 results show increased revenue and narrowed EBITDA loss, indicating a positive outlook for the company.
- The partnership aims to address market trends of slower developments and project cancellations, emphasizing the importance of flexible operations to adapt to changing demand in the green hydrogen sector.
- HydrogenPro CEO highlights the partnership with J.H.K. Group as mutually beneficial, leveraging expertise to capitalize on opportunities in the European market for green hydrogen initiatives.
Norwegian electrolyser firm HydrogenPro has entered a partnership with J.H.K. Group to establish smaller-scale green hydrogen plants in various European countries, including Germany, Austria, and Benelux. This collaborative effort intends to leverage J.H.K.'s role as a plant integrator and EPC contractor to implement HydrogenPro's pressurised alkaline electrolyser technology. Despite the industry's shift towards smaller projects compared to large-scale developments like the ACES project in Utah, HydrogenPro sees potential in catering to the emerging market demands for smaller green hydrogen initiatives. The partnership announcement coincided with the release of HydrogenPro's Q3 2024 financial results, showcasing a revenue increase to NOK 72m and a narrowed EBITDA loss. While the overall market experiences slower growth and project cancellations, HydrogenPro remains optimistic about its sales pipeline and emphasizes the importance of maintaining operational flexibility to adapt to changing industry dynamics. CEO Jarle Dragvik views the collaboration with J.H.K. Group as a strategic move to capitalize on opportunities in the European green hydrogen sector, positioning the company for continued success amidst market challenges.