Hydrogen Solutions AS has acquired a 33 percent stake in HyFuel AS, marking a significant step towards expanding green hydrogen production. An investment decision for a 20 MW green hydrogen production plant is planned for Q1 2025, in collaboration with the existing owners, Fjord Base Holding and Sogn og Fjordane Energi. While GASNOR has divested its share, it will continue to collaborate with HyFuel as a strategic partner within sales and distribution.
Over the past few years, HyFuel has been developing a green hydrogen production project at Fjord Base in Florø. This initiative aligns with authorities’ efforts to meet climate targets for the maritime sector. HYDS values the opportunity and recognition of being invited into this strategic project and looks forward to collaborating with project partners, suppliers, and regional hydrogen end-users.
Florø, a major maritime hub with over 5,000 annual ship calls, makes Fjord Base an ideal location for local production of hydrogen-based fuels and offers cost-efficient bunkering for ships. As part of the project partners’ sustainability strategies, HyFuel will contribute to local industrial symbiosis and the circular economy by offering its by-products, oxygen and heat, to the onshore aquaculture project located at Fjord Base.
The HyFuel hydrogen production plant will have an electrolyser capacity of 20 MW. Project development will continue with the aim of participating in the ENOVA program “Hydrogen Production for Maritime Transport 2027.” HyFuel’s target is to reach an investment decision by Q1 2025, with construction scheduled for 2026 and commercial production starting in 2027.
HyFuel has built extensive knowledge of hydrogen-based fuels, production, market dynamics, and customer needs. HYDS has joined the project as a key partner, leveraging substantial project management and operational experience from its portfolio of hydrogen production plants. GASNOR, having divested its share in the HyFuel hydrogen production plant, will focus on its role in the hydrogen value chain within sales and distribution and will continue collaborating with HyFuel.
“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. 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,” stated Thor Henrik W. Hagen, CEO of HYDS.
Anders Rød, CEO of GASNOR, commented, “Together with our project partners SFE and Fjord Base, GASNOR is proud to have been involved in developing a great project at Fjord Base over the past few years. While we have made the strategic decision to divest our share in the hydrogen production plant, we will continue to support HyFuel as a strategic partner in sales and distribution. This collaboration aligns with our commitment to sustainable energy solutions and advancing the maritime sector’s climate goals. As part of the Molgas Group, we aim to expand our presence in Europe and, in addition to LNG, lead the way in the development of biogas, hydrogen, and other alternative fuels.”
Ole Schanke Eikum, chairman of HyFuel, added, “HYDS will significantly strengthen HyFuel, bringing their competence and experience in both constructing and operating commercial hydrogen production facilities. HyFuel now has a strong and committed ownership able to make hydrogen available at Fjord Base, which is important for reducing the climate footprint from the maritime sector.”
For more information visit www.hydrogensolutions.no
