The Norwegian leading high-tech company Hystar AS specializing in green hydrogen production, has announced its ambitious venture—a state-of-the-art 4 gigawatts fully automated electrolyser factory in Norway, while planning towards international expansion into North America to benefit from investment incentives in the region.
Water electrolysis is one of the most promising alternatives to store energy from renewable energy resources, considered as most promising techniques for high pure efficient hydrogen production from renewable energy sources.
The news comes as Hyster CEO Fredrik Mowill and his colleagues Leila Asdal Danielsen, Magnus Thomassen and Tina Andersen participate in the Hydrogen America Summit in Washington D.C from October 2nd.
“Our Høvik GW factory demonstrates our commitment to rapidly expanding our European operations and meeting the strong demand for our technology across Europe. As we continue to scale up our operations, we are now looking at opportunities beyond Europe – the North American market has created a highly favourable environment for companies like ours to thrive in (…),” said Mowill.
The Norwegian tech company said it still has to identify the exact location for its future North American headquarter facility as “both the US and Canada have attractive incentives on offer””.
Last week the International Energy Agency (IEA) released its Global Hydrogen Review , highlighting the rising costs and a lack of government support as significant barriers to the widespread commercialization of green hydrogen, crucial for decarbonizing heavily polluting, hard-to-abate industries such as steel and ammonia.
Hystar started in 2019 as a spin-off from Norwegian SINTEF, one of Europe’s largest independent research organizations. Its existing 50 MW facility located in Norway has already commenced production of its electrolyser stacks for its upcoming deliveries.
Among its clients, both energy company Equinor and fertilizer giant Yara will receive a total of 1 megawatt by the end of 2023. In 2024, the facility will deliver 5 megawatt Poland’s largest private energy company Polenergia.
The new Norwegian facility is set to be delivered by 2025, while the multi-GW factory in North America will be completed by 2027.
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