HydrogenPro Secures Investment and Partnership Deal with Longi Green Energy Technology
Key Ideas
- HydrogenPro secures NOK 70m in equity from existing investors and plans to double the amount with Longi Green Energy Technology, potentially reaching NOK 140m for corporate purposes.
- Existing shareholders Andritz and Mitsubishi Heavy Industries (MHI) are part of the investment, with MHI having previously delivered electrolysers for a hydrogen project in the US.
- The partnership with Longi is seen as a strategic move to enhance global delivery of sustainable hydrogen solutions, utilizing the technical expertise and industrial capabilities of both companies.
- Both HydrogenPro and Longi aim to broaden their opportunities on the market and collaborate on future projects in China and Europe to expand their presence in the hydrogen industry.
HydrogenPro, a key player in the green hydrogen sector, has successfully raised NOK 70m in equity from existing investors, Andritz and Mitsubishi Heavy Industries (MHI). The company has also finalized an agreement with Longi Green Energy Technology, a Chinese electrolyser manufacturer, to potentially double this amount to NOK 140m. This investment will be utilized for general corporate purposes, as stated by HydrogenPro's CEO, Jarle Dragvik. The collaboration with Longi is expected to further strengthen HydrogenPro's position in the market and enhance its global reach in delivering sustainable hydrogen solutions.
MHI's previous delivery of electrolysers for a hydrogen production project in Utah, US, highlights their involvement in the green hydrogen sector. The agreement with Longi signifies a strategic partnership aimed at leveraging each other's industrial expertise to optimize offerings in the market. Both companies express the intent to work together on upcoming projects to increase their presence in China and Europe, demonstrating a commitment to expanding their footprint in the hydrogen industry. The positive sentiment towards hydrogen and the emphasis on collaboration and market development indicate a promising future for HydrogenPro and its partners in the renewable energy space.
Topics
South America
Renewable Energy
Investment
Green Technology
Partnership
Market Development
Industry Collaboration
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