Hystar will deliver an automated 4GW electrolyser factory in Hovik, Norway in 2025.
Construction at the project is scheduled to commence in early 2024.
In addition, Hystar aims to establish a new location in North America in 2024 and a multi-GW factory there by 2027.
As part of its expansion, Hystar will soon initiate the hiring process for its new North American headquarters.
Fredrik Mowill, CEO of Hystar, said: “Our Hovik 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. We are looking forward to identifying the ideal North American location for Hystar.
“Both the US and Canada have attractive incentives on offer, demonstrating a clear commitment to providing our industry with much-needed certainty and financial support. Opening a North American headquarters and delivering a factory on the continent is a major milestone in Hystar’s journey to deploying green hydrogen at scale. This is critical to decarbonising the global economy.”