Norwegian Hydrogen, a leading green hydrogen producer with operations in Norway and Denmark, has acquired Aker Horizons' hydrogen project in Rjukan, Norway. This acquisition strengthens Norwegian Hydrogen's position in the Nordic market and positions the company for significant growth in the green hydrogen sector.

The Rjukan project, initially developed by Aker Horizons, will leverage an existing long-term power purchase agreement (PPA) with Tinn Energi, ensuring a stable supply of renewable energy for hydrogen production. Norwegian Hydrogen plans to construct a 25 MW electrolyzer plant, making it one of the largest green hydrogen projects in the Nordics.

The company has signed a Letter of Intent (LOI) with Nel for the supply of a pressurized alkaline electrolysis plant. This technology, previously supported by the EU Innovation Fund, is expected to enhance the efficiency and cost-effectiveness of hydrogen production.

"We are thrilled to acquire this promising project," said Jens Berge, CEO of Norwegian Hydrogen. "This acquisition aligns perfectly with our strategic goals and provides us with a significant opportunity to expand our green hydrogen production capacity and serve a growing customer base."

The Rjukan project is strategically located to serve a diverse range of industrial customers in the Nordics, including those in sectors demanding sustainable and innovative energy solutions. Norwegian Hydrogen aims to build upon the foundation laid by Aker Horizons and contribute to the region's green transition by delivering clean and affordable hydrogen.

Norwegian Hydrogen emphasizes its commitment to local collaboration, working closely with authorities, communities, and customers to ensure the successful implementation of the project. The company will provide regular updates on project progress as it moves forward.

Jens Berge, CEO of Norwegian Hydrogen stated in the company presser, “We are very pleased to be able to take over this exciting project. This acquisition provides us with an excellent opportunity to enhance our commitment and deliver innovative zero-emission solutions to both existing and new customers. At the same time, we look forward to realizing the project and contributing to the green transition in close cooperation with local stakeholders.”

Norwegian Hydrogen is a leading developer of green hydrogen production and distribution networks in the Nordics. Backed by a strong consortium of industrial investors, including Fortescue, Mitsui & Co., Ltd, Flakk Group, and Hexagon Purus, the company is committed to delivering sustainable and reliable green hydrogen solutions to a wide range of industrial customers.

Aker Horizons is a Norwegian investment company focused on developing and investing in companies within renewable energy and green industries.