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HydrogenPro ASA Unveils Exceptional Third Quarter Performance

HydrogenPro ASA today announced impressive third-quarter financial results, marked by exceptional sales growth and significant milestones achieved.

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During this exceptional quarter, HydrogenPro ASA’s sales rose spectacularly, exceeding those of the previous year’s third quarter by more than a factor of ten.

Order confirmation with Andritz

One of the highlights of the quarter was the confirmation of an order for a 100 MW power plant in partnership with Andritz, an Austrian industrial giant. This order testifies to the success of the strategic partnership between HydrogenPro and Andritz.

Important milestones reached

In its financial report, HydrogenPro revealed several important milestones achieved over the past three months. In addition to the order with Andritz, the company is making progress on the delivery of 220 MW of high-pressure alkaline electrolyzers suitable for renewable energy input, with a contract estimated at over US$50 million in partnership with Mitsubishi Power.

Promising Projects

HydrogenPro is also the exclusive supplier of more than 800 MW of electrolysers for the DG Fuels sustainable aviation fuel plant in Louisiana, with an expected contract value in excess of 500 million US dollars. The company recently announced a strategic partnership with Airbus.

New CEO for HydrogenPro INC

Finally, HydrogenPro INC, the company’s US subsidiary, has appointed Jeff Spethmann as CEO, strengthening its strategic presence in the United States. The Biden/Harris administration continues to support the development of sustainable hydrogen value chains, with $7 billion in funding for seven regional clean hydrogen hubs.
All in all, HydrogenPro ASA had an exceptional quarter, marked by significant sales growth and the achievement of several major milestones. The partnership with Andritz, ongoing projects with Mitsubishi Power and DG Fuels, and political support in the USA, position the company for continued growth and positive margins. CEO Jarle Dragvik expresses confidence in the company’s future and looks forward to the opportunities ahead.

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