Hexagon Composites ASA has finalized the joint venture agreement with Nel ASA and PowerCell Sweden AB for the development of integrated hydrogen projects. The equally owned joint venture will initially focus on opportunities in the maritime and marine segments as well as projects to capture stranded renewable energy.
The entity will create a one-stop-shop for customers wanting to utilize hydrogen technologies across the value chain from renewable hydrogen production to storage, distribution and dispensing, as well as generating electricity via fuel cells. The entity will manage and develop the projects to ensure that technologies from the partners are effectively integrated into complete and optimal solutions for the customers.
“Since we announced the intention to join forces, we have received numerous requests, ranging from governmental organizations to maritime transportation. We see significant opportunities for the joint venture and believe it is well positioned to deliver unique customer value,” said Jon Erik Engeset, President and CEO of Hexagon Composites ASA.
“The collaboration with these strong market leaders is a logical step in shaping the emerging market for zero-emission power solutions,” added Engeset.
Source: Hexagon Composites