HydrogenPro's Strategic Investment in Gen3 Electrodes to Revolutionize Hydrogen Production
Key Ideas
- HydrogenPro ASA is investing in a new production line for its Gen3 electrodes to increase capacity, with total annual capacity expected to be 90-100 MW by Q1 2025.
- The Gen3 electrode technology developed by HydrogenPro enables electrolyzers to achieve industry-leading efficiency, reducing the Levelized Cost of Hydrogen.
- CEO Jarle Dragvik expressed satisfaction with the decision, citing a strong demand for the technology and the successful testing results of Gen3 electrodes.
- The total investment for the new production line is 70 MNOK, with plans to utilize the experience gained for the future planning of a 'H2-GIGA factory'.
HydrogenPro ASA, a company listed on the Oslo Stock Exchange (OSE: HYPRO), is making a significant strategic move by investing in a new production line for its Gen3 electrodes. This investment aims to enhance the production capacity of large electrodes and is expected to reach a minimum of 90-100 MW annually by the first quarter of 2025. The Gen3 electrode technology developed by HydrogenPro is unique in the industry, allowing electrolyzers to operate with exceptional efficiency and lower the Levelized Cost of Hydrogen. CEO Jarle Dragvik expressed great satisfaction with the decision, highlighting the increasing demand for Gen3 electrodes and the promising testing results. The total investment for this capacity expansion is estimated at 70 MNOK, with plans to leverage the gained experience for the future establishment of an H2-GIGA factory. This initiative aligns with HydrogenPro's vision to meet the growing market needs for hydrogen technology and solidifies its position as a key player in the industry.