HydrogenPro ASA: Secures strategic NOK 82.7 million investment from ANDRITZ AG

PORSGRUNN, Norway, April 11, 2024 /PRNewswire/ -- HydrogenPro ASA (OSE: HYPRO), HydrogenPro ASA is pleased to announce that it has secured NOK 82.7 million in new equity through a private placement of new shares towards ANDRITZ AG, an international technology group listed on the Vienna stock exchange and one of the leading companies within green hydrogen plants and solutions.

HydrogenPro embarked on a new trajectory in August last year, aligning its operations with a strategic vision that emphasized two key thrusts, led by the CEO Jarle Dragvik: i) expanding its presence in the United States, and ii) seeking strategic partnerships and alternative funding sources. The company is now continuing to deliver on these goals. First by establishing a sales organization in the US, and now by this strategic investment made by the strategic partner Andritz.

Jarle Dragvik, CEO of HydrogenPro, comments: "We are delighted to strengthen the ANDRITZ partnership as we continue to execute on our vision of delivering sustainable hydrogen solutions globally. They bring valuable industrial expertise as one of the leading actors within green hydrogen plants and solutions. Thanks to the partnership with Andritz and their EPC (Engineering, Procurement and Construction) capability, HydrogenPro will together with Andritz achieve full scope delivery, fulfilling requirements of many customers in the large-scale electrolysis sector. I have been actively engaged in the cooperation with ANDRITZ for the last nine months and believe this puts us in a great position to further expand HydrogenPro according to our strategy".

For detailed information about this transaction please follow this link: LINK TO THE STOCK EXCHANGE RELEASE ON OUR WEBPAGE

For further information, please contact:

Olaf Thommessen, Acting Head of Communications
+47 97548585
[email protected]

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SOURCE HydrogenPro ASA