Japanese company Mitsubishi Heavy Industries (MHI) has made a financial investment in Norwegian company HydrogenPro, which develops and manufactures of electrolysers to produce hydrogen.
MHI subscribed to newly issued shares placed by HydrogenPro in an initial public offering undertaken to fund expansion of its business operations.
The strategic partnership with HydrogenPro will further expand MHI’s portfolio and provide green hydrogen production plants to the market going forward.
HydrogenPro was established in 2013 based in the Norwegian city of Porsgrunn in Telemark County.
It has already developed a 9MW class hydrogen production system with production capacity of 4.4 tonnes a day, adopting water electrolysis technology incorporating a pressurized cells with alkaline electrolyte.
Plans are now underway toward achieving a 100MW plant that will generate 48 tonnes a day.