Hyon raises funds for Norwegian hydrogen bunker hub

Norway-based Hyon has completed a NOK 50 million ($5.55 million) private placement with an eye on hydrogen bunkering in Hellesylt.

PHOTO: The densely populated town of Hellesylt has a tourist ferry that operates in Geiranger during the summer season. Norwegian Hydrogen Forum

The private placement of 21.36 million shares values Hyon at NOK 130 million ($14.42 million). The company is also eyeing a listing on the Euronext Growth index.

“The placement and potential listing will allow HYON to continue the growth and development to leverage on the leading position in the market for maritime hydrogen fueling solutions,” says Hyon chief executive Jørn Kristian Lindtvedt.

Hyon plans to provide technology for the world’s first commercial hydrogen bunkering station at Hellesylt Hydrogen Hub, Lindtvedt adds. Based in northwestern Norway, Hellesylt Hydrogen Hub will be run by green hydrogen company Norwegian Hydrogen.

Hyon is co-owned by Sustainable investment company Saga Pure (29%), renewables company Nel Hydrogen (29%) and Norwegian Hydrogen (29%).

Hellesylt Hydrogen Hub is scheduled to start fuelling operations by 2023.