HydrogenPro, H2V Industry and Mitsubishi Power Europe have signed a MoU forming a consortium that will develop and deliver green industrial hydrogen projects

Oslo, Paris, Duisburg 27 May 2021 – HydrogenPro (OSE: HYPRO), H2V Industry and Mitsubishi Power Europe have entered into an MoU (Memorandum of Understanding) forming a consortium that will develop and deliver green industrial hydrogen projects.

This MoU will form a long-term partnership, combining the value proposition and expertise of H2V Industry, HydrogenPro and Mitsubishi Power Europe supporting the European and French initiatives to reach the decarbonisation goals. Through this MoU the consortium partners will develop and deliver large scale hydrogen projects, including currently on-going projects.

H2V Industry will take on a lead role in the development phase, whereas HydrogenPro and Mitsubishi Power Europe will contribute with their expertise in the design, engineering, system and components, as well as their procurement competence. The current projects are founded on HydrogenPro´s 100MW high pressure modular system and represent the first large industrial scale projects, positioning the partnership in a global leading position. The partnership will also establish schemes to provide significant European supply content. An investigation has been started to determine European sourcing, manufacturing and/or assembly in France.

H2V Industry, owned by the French based Samfi Invest group (Samfi) is a leading player in the hydrogen space in France. H2V Industry is actively pursuing several green industrial scale hydrogen projects, on top of the present ones, where HydrogenPro has been contracted to supply the electrolyser installations for these sites.

“H2V Industry is pleased to further reinforce its technical and economical offerings through this partnership with our trusted partners Mitsubishi Power Europe and HydrogenPro. The opportunity to manufacture and assemble key components of the hydrogen value chain in France is a major driver to secure our projects, both in terms of capacity and services” says Jean Marc Leonhard, Managing Director of H2V.

Mårten Lunde, CEO of HydrogenPro, adds: “We are pleased to reinforce our relationship with strong partners H2V Industry and Mitsubishi Power Europe, both actively leading the global and European Energy transition. There are several attractive opportunities being developed in France which are ideal for the use of our leading high-pressure alkaline technology. HydrogenPro will leverage its new, improved and cost leading CAPEX-OPEX electrolyser technology for large industrial hydrogen installations, reducing power consumption by 14% giving a significant cost advantage compared to other technologies.”

Markus Bruegmann, Head of New Business and Senior Vice President for Mitsubishi Power Europe concludes: “The energy sector is experiencing significant and rapid change, driven by policy shifts and technological innovation, renewable energy evolution and widespread digital adoption. At Mitsubishi Power Europe we are excited to leverage our capabilities to deliver low carbon solutions. These hydrogen projects, which will use HydrogenPro´s leading technology, are part of our strategy to provide short- and long-term energy storage solutions. With Mitsubishi Power’s Service offering, including digitalization solutions – such as the advanced analytics technology embedded in TOMONI^TM digital solutions – support H2V Industry decarbonization and business performance goals with seamless plant operations, high reliability, optimized operations and maintenance (O&M) as well flexibility and increased efficiency.”