HYON enters hydrogen fueling partnership with Mitsui
Norway’s hydrogen bunkering specialist HYON has entered into a collaboration agreement with Japanese trading and investment company Mitsui, setting the stage for large-scale development of hydrogen fueling solutions, starting with a joint feasibility study in the second half of 2022.
Together, the parties aim to venture into business opportunities related to establishing hydrogen fueling infrastructure in Europe, Asia, or any other geographies with potential hydrogen demand.
The agreement, signed on 10 May, also explores a potential financial and strategic commitment by Mitsui. Mitsui has a diversified portfolio of business in various sectors, including shipping, offshore development, mobility, infrastructure, chemicals and energy.
“With its vast network and global presence, Mitsui is an important strategic partner that will allow us to scale the business volume quickly and thereby provide highly competitive offerings to the market. This agreement is an important step towards making HYON a … global provider of hydrogen fueling solutions,” Jørn K. Lindtvedt, CEO of HYON, commented.
HYON was founded in 2017 on a mission to accelerate the energy transition in the maritime sector. It is backed by owners including Saga Pure, Norwegian Hydrogen and Nel.
The company’s mission is to deliver ‘fast and safe’ bunkering of hydrogen for ships.
“The hydrogen market is expected to grow significantly within the shipping industry, accelerated by stringent regulations, guidelines and initiatives for GHG emission reductions. By combining Mitsui’s track record and global network in the shipping industry with HYON’s expertise in hydrogen solutions, we aim to capture this growth and penetrate new markets,” Kensuke Kubota, General Manager of Transportation & Machinery Bus Div. IV at Mitsui, said.
As a first step of the collaboration, HYON and Mitsui will conduct a feasibility study to define relevant parameters for the global presence of hydrogen fueling solutions, roll-out plan, cost and specification of the technical solutions.
The feasibility study will be undertaken in the second half of 2022, lasting a minimum of three to six months.
In late April 2022, HYON, together with compatriot green hydrogen company Gen2 Energy AS and supply base services provider ASCO Norway, applied for soft funding from Enova for a hydrogen hub for maritime transport in Nordland to be named the Green Artic HyHub.
The hydrogen hub will include large-scale production of compressed hydrogen in Mosjøen and bunkering sites for maritime transport in Sandnessjøen and Mosjøen.
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