OSLO, NORWAY: Aker Clean Hydrogen, through investing in a private placement, has acquired 20 percent ownership in Meraker Hydrogen AS, a news release said.

The aim of the investment is to accelerate the development of green hydrogen production in Mid-Norway and decarbonize local transportation and industry.

The company intends to build a plant producing up to 10 tons of green hydrogen per day, equivalent to 23 MW of installed electrolyser capacity, using local renewable energy sources. Production start is expected early in 2024.

The production plant will be built in Kopperå in Meråker municipality, in the immediate vicinity of the railway and the European route E14.

 “Meraker Hydrogen is well positioned to create green value chains and decarbonize local shipping and transportation sectors in addition to other potential industry users,” said Knut Nyborg, Chief Executive Officer of Aker Clean Hydrogen.

Aker Clean Hydrogen holds 22 percent of the shares in Greenstat AS, which is one of the other main owners (25 percent) of Meraker Hydrogen AS together with NTE Energi AS (25 percent) and Gen2 Energy AS (10 percent). The remaining shares are owned by local investors, amongst others Meråker municipality.

Aker Clean Hydrogen aims to develop, build, own and operate clean hydrogen production on an industrial scale.

Aker Horizons is the majority shareholder of the company, and Aker Clean Hydrogen uses domain expertise across the Aker Group, including systems integration, engineering, technology development, project implementation, digitization and financial optimization to increase efficiency and reduce project costs.

The company aims to reach a net installed capacity of 5 GW by 2030, and will make a major contribution to realizing the hydrogen industry and reducing greenhouse gas emissions globally.