Norwegian firm raises USD 1m for green hydrogen in UNESCO area

April 7 (Renewables Now) - Norwegian Hydrogen AS, part of Norway’s Flakk Gruppen, has raised NOK 10.3 million (USD 1m/EUR 922,100) for a project involving the production of green hydrogen for mobility applications, mainly ferries and cruise ships.

The Pilot-E project Hellesylt Hydrogen HUB calls for the construction of a hydrogen production facility in the UNESCO-protected Geirangerfjord in the Norwegian fjords. The unit will use hydropower and will produce green hydrogen for fuel cell-driven ferries along the Hellesylt - Geiranger route.

Norwegian Hydrogen AS aims to start supplying green hydrogen to ferry owners that service the ferry connection from March 2022.

The companies that have taken part in Norwegian Hydrogen’s recent capital raise are its parent Flakk Gruppen, energy solutions provider Hexagon Composites ASA, hydropower group Tafjord, aquaculture specialist Hofseth Aqua AS and project management firm Astanel AS.

The project, launched in January, aims to cut carbon dioxide (CO2) emissions in the Geirangerfjord by 2,370 tonnes annually and potentially achieve zero-emission operations. Geirangerfjord is one of two World Heritage Fjords in Norway and, according to local regulations, all vessels that are not zero-emission will not be allowed to enter the territory from 2026.

The project is being financed by the Norwegian Research Council and Norway Innovation with some NOK 37.6 million.

(NOK 10 = USD 0.973/EUR 0.895)