Hystar AS has unveiled ambitious plans to extend its footprint into North America, with the establishment of a new presence slated for 2024, and the development of a multi-gigawatt (GW) factory expected to be operational by 2027.

In a significant move towards this expansion, the Norwegian company is gearing up to commence the recruitment process for its forthcoming North American headquarters. Furthermore, Hystar is currently engaged in discussions with key stakeholders in both the United States and Canada with the aim of establishing its inaugural gigafactory on the continent. Hystar anticipates that its commercial activities in North America could surpass the scale of its European endeavors within the coming decade. The company has also left the door open to the possibility of additional gigafactories coming into play prior to 2030.

Fredrik Mowill, CEO of Hystar, emphasized the attractiveness of incentives offered by both the United States and Canada, underscoring their commitment to providing the industry with the essential elements of certainty and financial backing. Mowill stated, "Opening a North American headquarters and establishing a factory on the continent represents a significant milestone in Hystar's journey toward deploying green hydrogen on a large scale. This is of paramount importance in the global mission to decarbonize the economy, particularly in addressing heavily polluting, hard-to-abate sectors such as steel and ammonia."

Hystar's strategic expansion into North America aligns with recent developments in the hydrogen sector, as highlighted by the International Energy Agency's (IEA) Global Hydrogen Review, which was released last week. The report underscored that rising costs and a lack of government support have posed significant barriers to the widespread commercialization of green hydrogen—a critical component in the effort to decarbonize industries with substantial emissions, such as steel and ammonia.

In contrast, the United States has taken proactive steps by offering substantial hydrogen subsidies through the Inflation Reduction Act. Additionally, the nation is in the process of developing plans for the establishment of ten major hydrogen hubs, indicative of its strong commitment to hydrogen initiatives. Meanwhile, Canada has made strides by making an investment tax credit accessible for clean hydrogen production, further fostering the growth of the green hydrogen sector.

Hystar's expansion into North America signifies a pivotal moment in the company's journey to become a major player in the global green hydrogen landscape. By tapping into the incentives and support mechanisms offered by both the United States and Canada, Hystar aims to contribute significantly to the widespread adoption of green hydrogen, addressing critical challenges in the journey towards a more sustainable, decarbonized economy.