Hydrogen Solutions (HYDS) has acquired a 33% stake in HyFuel, a developer of a green hydrogen production project for the maritime industry at Fjord Base in Florø, Norway.
HYDS acquired a stake in HyFuel from compatriot small-scale LNG platform developer Gasnor and thus entered the project at Fjord Base as a key partner, leveraging project management and operational experience from its portfolio of hydrogen production plants.
As explained, Gasnor divested its share in the HyFuel hydrogen production plant, prioritizing its role in the hydrogen value chain within sales and distribution, and will continue collaborating with HyFuel.
The HyFuel hydrogen production plant at Fjord Base will have an electrolyzer capacity of 20 MW. Project development will continue with the aim of participating in the ENOVA program “Hydrogen Production for Maritime Transport 2027.”
Together with the existing owners Fjord Base Holding and Sogn og Fjordane Energi (SFE), HyFuel and HYDS target an investment decision by the first quarter of 2025, with construction scheduled for 2026 and commercial production starting in 2027.
“This acquisition offers numerous advantages. Combining our expertise in developing, building, and operating hydrogen production plants with the existing knowledge in HyFuel 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 decarbonisation strengthens our partnership, and the cooperation underscores 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 a part of the EU-funded ROBINSON H2020 project.
The Norwegian company recently also formed a partnership with UK-based infrastructure solutions business px Group seeking to accelerate the energy transition through the development of low-carbon, renewable fuels and power.