HydrogenPro ASA has secured $7.59 MM 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 H₂ 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: expanding its presence in the U.S., and seeking strategic partnerships and alternative funding sources. The company is now continuing to achieve these goals. First by establishing a sales organization in the U.S., and now by this strategic investment made by the strategic partner Andritz.

Jarle Dragvik, CEO of HydrogenPro said, “We are delighted to strengthen the ANDRITZ partnership as we continue to execute our vision of delivering sustainable H₂ solutions globally. They bring valuable industrial expertise as one of the leading actors within green H₂ plants and solutions. Thanks to the partnership with Andritz and their engineering, procurement and construction (EPC) 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.”