Mitsubishi Power Signs Purchase Contract with HydrogenPro for Large Scale Electrolyzer System

Integrates with Mitsubishi Power’s Hydaptive Standard Green Hydrogen Packages

LAKE MARY, Fla. (February 7, 2022) – Mitsubishi Power Americas, Inc. has signed a purchase contract with HydrogenPro AS (OSE: HYPRO) for an initial delivery of 40 electrolyzers.

The HydrogenPro electrolyzer system will use wind and solar energy to produce green hydrogen by splitting water into hydrogen and oxygen through electrolysis. The green hydrogen will be stored and used for power generation, transportation and industrial applications.

This contract strengthens the partnership between Mitsubishi Power and HydrogenPro, building on their Herøya, Norway project for a first of its kind electrolyzer system. The cooperation between companies to rapidly develop hydrogen technology with a common focus to deploy utility-scale green hydrogen in the U.S. will facilitate achieving global decarbonization targets.

“This is a major breakthrough for HydrogenPro. It demonstrates that our technology is well suited for large-scale projects, making affordable, reliable and clean hydrogen widely available to customers. We are proud to partner with Mitsubishi Power in delivering technological advancements to attain a carbon-free hydrogen society,” said Elling Nygaard, CEO of HydrogenPro. “Today’s announcement is a confirmation of the significant potential that resides in the U.S. market for us.”

Bill Newsom, President and CEO of Mitsubishi Power Americas, said, “Mitsubishi Power’s electrolyzer purchase further supports our mission to provide power generation and energy storage solutions to our customers, empowering them to affordably and reliably combat climate change and advance human prosperity. The electrolyzer system will work within our Hydaptive™ packages — the worlds’ first standard green hydrogen integration packages — to help accelerate the path to decarbonization. This order shows our confidence in HydrogenPro’s electrolyzer system due to work begun last year with HydrogenPro to construct and validate one of the world’s largest single stack high-pressure alkaline electrolyser systems in Norway. Together with our customers and partners, we are creating a Change in Power.”

Mitsubishi Power Americas signed a purchase contract with HydrogenPro for an initial delivery of 40 electrolyzers to produce green hydrogen for power generation, transportation and industrial applications. (Credit: HydrogenPro)

About Mitsubishi Power Americas, Inc.

Mitsubishi Power Americas, Inc. (Mitsubishi Power) headquartered in Lake Mary, Florida, employs more than 2,300 power generation, energy storage, and digital solutions experts and professionals. Our employees are focused on empowering customers to affordably and reliably combat climate change while also advancing human prosperity throughout North, Central, and South America. Mitsubishi Power’s power generation solutions include gas, steam, and aero-derivative turbines; power trains and power islands; geothermal systems; PV solar project development; environmental controls; and services. Energy storage solutions include green hydrogen, battery energy storage systems, and services. Mitsubishi Power also offers intelligent solutions that use artificial intelligence to enable autonomous operation of power plants. Mitsubishi Power is a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI). Headquartered in Tokyo, Japan, MHI is one of the world’s leading heavy machinery manufacturers with engineering and manufacturing businesses spanning energy, infrastructure, transport, aerospace, and defense. For more information, visit the Mitsubishi Power Americas website and follow us on LinkedIn.

About HydrogenPro AS

HydrogenPro designs and supplies customized hydrogen plants in cooperation with global partners and suppliers, all ISO 9001, ISO 45001 and ISO 14001 certified.

The Company was founded in 2013 by individuals with background from the electrolysis industry which was established in Telemark, Norway by Norsk Hydro in 1927. We are an experienced engineering team of leading industry experts, drawing upon unparalleled experience and expertise in the hydrogen and renewable energy industry.

Our core product is the alkaline high-pressure electrolyser. With the new electrode technology, we are able to increase the efficiency of each unit by 14% to reach 93% of the theoretical maximum. This is a significant step forward as the cost of electric power, depending on market prices, amounts to 70-90% of the cost of producing hydrogen, the value of such increased efficiency equals approximately the investment cost for the entire plant in a Total Cost of Operation perspective. The Company is targeting a production cost for green hydrogen of USD 1.2 per kg.