Everfuel to acquire H2CO

Everfuel to acquire H2CO

Everfuel will take over two hydrogen stations and distribution assets in Norway as part of a new acquisition announced on Thursday (5th Nov).

The Danish company, established in 2019 as a spin-off from Nel ASA, has inked a deal to buy H2CO, an Uno-X company, as Everfuel moves forward with its mission to make green hydrogen commercially viable for zero emission mobility across Europe.

The hydrogen stations are located at Hvam, just northeast of Oslo, and in Åsane, just north of Bergen.

Everfuel said it expects to assume operation of the station in Hvam in late 2020 or early 2021, and the Åsane station a few months later, subject to potential impact from the ongoing Covid-19 pandemic and related travel restrictions.

Final closing of the agreement is expected in December 2020.

“We have a stated ambition of making green hydrogen commercially available across Europe,” said Jacob Krogsgaard, CEO of Everfuel.

“Norway plays a key part in reaching that ambition and we are eager to start offering hydrogen to existing and new customers.”

“The hydrogen stations at Hvam and Åsane is our first step into the Norwegian market.”

“Our plan is to establish further stations in Norway to support private users and enterprise customers with their fleets of taxies, trucks and buses.”

“We recognise the efforts made by Uno-X to pioneer hydrogen fuel in the Norwegian market, and we are pleased to take over and continue developing green hydrogen solutions for zero emission mobility in Norway.”

Uno-X is currently carrying out a thorough review and upgrade of the Hvam and Åsane hydrogen stations in cooperation with Nel.

The stations will be fully operational and approved by the required authorities before formal handover.

Everfuel will at that time assume full responsibility for operation and maintenance of the stations.

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