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everfuel-transfers-ownership-of-20mw-norwegian-hydrogen-hub-to-greenstat
everfuel-transfers-ownership-of-20mw-norwegian-hydrogen-hub-to-greenstat

Everfuel transfers ownership of 20MW Norwegian hydrogen hub to Greenstat

Denmark’s Everfuel has transferred the ownership of a planned 20MW hydrogen hub in Norway to Greenstat Hydrogen in exchange for potential future milestone-based payments.

The Hydrogen Hub Adger in Kristiansand, Norway, was being developed by Everfuel and Greenstat Energy. Set to see an initial 20MW electrolyser produce eight tonnes of hydrogen per day, the site was anticipated to be scaled up to 60MW.

Greenstat has said it is working towards starting construction of the facility in early autumn this year (2024).

Jacob Krogsgaard, founder and CEO of Everfuel, said the transaction was in line with the company’s “realigned strategy” to focused on phased developments of large-scale electrolyser projects in its home nation.

In September (2023), the company revealed that among closing “unprofitable” legacy hydrogen refuelling stations for cars, it would be focusing on establishing projects in Denmark.

Read more:Everfuel to close ‘unprofitable’ hydrogen refuelling stations to refocus on production

Under the new strategy, Everfuel said it would look to meet demand for green hydrogen from large industrial users in Germany and continental Europe.

Under the transaction, Everfuel could receive future payments from Greenstat for its early involvement in the project’s development. But they will depend on the project reaching final investment decision (FID).

“We are pleased that our project partner Greenstat Hydrogen now assumes full ownership to further mature the project and bringing the facility into production to decarbonise maritime,” Krogsgaard said.

Previously, Everfuel and Greenstat said Letters of Intent (LoI) had been signed for the off-take of over 8,000 tonnes of compressed hydrogen per year with shipping firms Holland-Norway Lines, FFS Marine and Arriva Shipping.

In 2022, the pair received an NOK 148m ($14.2m) from Enova to establish the hub.

Read more: Norwegian hydrogen hub plans receive NOK 148m grant

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