Green Hydrogen Systems announced that it planned an IPO, offering new shares to raise proceeds of approximately DKK 1 billion, to support the execution of Green Hydrogen Systems’ strategy and strengthen its balance sheet to facilitate further growth. New and current investors have undertaken to subscribe for shares in the IPO based on a pre-money equity valuation of approximately DKK 2 billion. (Investor Announcement)
Norway’s Hydrogenpro has entered into a letter of intent with France’s H2V Industry and Mitsubishi Power Europe. A stock exchange announcement says "Through this agreement, the consortium's partners will develop and deliver large hydrogen projects, including ongoing projects." H2V Industry will take the lead in the development phase, while Hydrogenpro and Mitsubishi Power Europe will contribute with their expertise in design, engineering, systems and components, as well as their procurement expertise, the companies write about the European cooperation. (E24)
As reported yesterday, LO (the union movement) and NHO (The Confederation of Norwegian Enterprise) have joined together in an initiative to define Norway’s industrial policy. According to NHO CEO Ole Erik Almlid, Norway is at a crossroads, with climate and energy change gaining momentum. The value creation, jobs and exports of the future depend on making the right choices now. LO leader Peggy Hessen Følsvik said that there is a great potential for employment and jobs in the industrial ambitions. Norwegian working life is characterized by a generally high level of competence, with world-class skilled workers. Access to the right competence is a prerequisite for success.
The organizations want to see a strategy where:
Industri Energi also participated in the development of the proposal. In its press release it points to offshore wind, battery, hydrogen/ammonia, CCS and petroleum industries as future value creators
(Metal Supply, Industri Energi)
Nilar and Metacon, two Swedish energy start-ups reported losses in 1Q. Metacon, which develops energy systems for the production of hydrogen, electricity and heat, had revenues of SEK 740,000 and operating loss of SEK -6.0 million. Nilar, a battery maker which listed on NASDAQ First North in April, made a loss of SEK 70 million on sales of SEK 5.4 million. (Dagens industri, press release)
The Nordic countries are some of the most dynamic and successful economies in the world. They are also leaders in sustainability, from renewable energy, biofuels, carbon capture and storage and the hydrogen economy, circular economy business models and battery development, the Nordics are pioneers in policy design, technology development and consumer uptake. Mundus Nordic Green News is covering this transition for the international community. Every day we clip the stories of most relevance to international businesspeople and policy experts from the flow of news. We supplement these with our own opinion pieces and commentary, in English.