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2 minutes read

HYDS Becomes Key Partner in Green Hydrogen Production Project at Fjord Base

Hydrogen Solutions (HYDS) has acquired a 33% stake in HyFuel, a developer of a green hydrogen production project for the maritime industry located at Fjord Base in Florø, Norway. With this acquisition, HYDS joins the project as a key partner, bringing in its extensive project management and operational experience from its portfolio of hydrogen production plants.

HYDS obtained its stake in HyFuel from Gasnor, a small-scale LNG platform developer. Gasnor has chosen to divest its share in the HyFuel project to concentrate on its role in the hydrogen value chain, specifically in sales and distribution, while continuing its collaboration with HyFuel.

The HyFuel hydrogen production plant at Fjord Base will feature an electrolyzer with a 20 MW capacity. Project development will continue with the goal of participating in the ENOVA program “Hydrogen Production for Maritime Transport 2027.”

Alongside the existing stakeholders, Fjord Base Holding and Sogn og Fjordane Energi (SFE), HyFuel and HYDS aim to reach an investment decision by the first quarter of 2025. Construction is planned for 2026, with commercial production set to begin in 2027.

“This acquisition offers numerous advantages. By combining our expertise in developing, building, and operating hydrogen production plants with the existing knowledge in HyFuel, we will create a robust and effective team,” said Thor Henrik W. Hagen, CEO of HYDS. “We are eager to collaborate with the current owners on this project. Our mutual commitment to safety and dedication to decarbonization strengthens our partnership, highlighting the confidence that several influential entities have in the green hydrogen market.”

Earlier this year, HYDS, in collaboration with Dalane Energi, launched a hydrogen production facility in Egersund harbor as part of the EU-funded ROBINSON H2020 project. The Norwegian company has also recently formed a partnership with the UK-based infrastructure solutions business, px Group, to accelerate the energy transition through the development of low-carbon, renewable fuels and power.

 

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