Norwegian electrolyser producer HydrogenPro has agreed to buy the remaining 25% stake in its 500-MW production facility in Tianjin, China. The shares will be acquired from local partner Tianjin Miaoqing Machinery Equipment Co Ltd, pending Chinese anti-trust approval.
The deal includes 3 million CNY in cash, about 424,000$, plus equipment valued at around 1.8 million CNY. HydrogenPro originally bought 75% of the Tianjin facility in 2021.
Since then, the Chinese plant has been upgraded with improved quality systems and advanced equipment. It has already supplied electrolyser systems for two of the world’s largest green hydrogen projects.
CEO Jarle Dragvik said full ownership will give HydrogenPro a cost-efficient setup with capacity for large international projects. He added that the company is in dialogue with Chinese partner LONGi on optimising manufacturing and further synergies under their cooperation agreement.
HydrogenPro was founded in 2013 and focuses on green hydrogen technology. In addition to its Norwegian base, the company runs R&D, sales and manufacturing operations in Denmark, Germany and China.
[…] Norwegian hydrogen firm takes full control of 500-MW electrolyser plant in China, source […]