HydrogenPro has secured NOK 82.7m ($7.6m) in new equity through a private placement of new shares in Andritz.
The green hydrogen plant and solution developer’s portflio aligns with HydrogenPro’s new strategic focus laid out by the company last year (2023). Andritz is understood to be a “global leader” in P2X solutions for green hydrogen and renewable fuel production, offering engineering, procurement and construction (EPC) services for plants.
Under its refreshed trajectory, HydrogenPro wants to expand its presence in the US and identify strategic partnerships and alternative funding sources. To deliver on these goals, HydrogenPro has established a sales organisation in the US and now made an investment into Andritz.
The two companies first collaborated last year, after Andritz agreed to use HydrogenPro’s high-pressure alkaline electrolyser (AEL) technology experience in its EPC offering of green hydrogen solutions.
Read more: HydrogenPro and ANDRITZ partner to accelerate AEL production
“We are delighted to strengthen the Andritz partnership as we continue to execute on our vision of delivering sustainable hydrogen solutions globally,” explained HydrogenPro CEO, Jarle Dragvik.
“Thanks to the partnership with Andritz and their EPC capability, HydrogenPro will together with Andritz achieve full scope delivery, fulfilling requirements of many customers in the large-scale electrolysis sector.”
Earlier this month (April), HydrogenPro announced its third Chair of the Board in the space of a year, after Terje Mikalsens stepped down after five months in the role.
Read more:HydrogenPro elects second Chair of the Board in less than a year
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