HydrogenPro ASA has secured about $6.2 MM in new equity through a private placement of new shares towards its existing shareholders ANDRITZ AG and Mitsubishi Heavy Industries. (MHI). The company is further pleased to announce that it has entered into an investment agreement regarding a conditional equity investment of $6.2 MM (the LONGi Investment) by LONGi Hydrogen Technology (Xi’an) Co., Ltd. (LONGi Hydrogen) and a cooperation agreement with LONGi Hydrogen. Thus, provided successful completion of the LONGi Investment, the total gross proceeds to the Company from the Private Placement and the LONGi Investment amount to approximately $6.2 MM. The subscription price in the Private Placement and LONGi Investment is NOK 5.50 per share (compared to NOK 4.50 per share as of close on 20 December 2024).

LONGi Hydrogen is engaged in the development and manufacturing of green hydrogen equipment and solutions. It is a holding subsidiary of LONGi Green Energy Technology Co., Ltd., a world leader in solar PV products and solutions, listed on the Shanghai Stock Exchange.

Jarle Dragvik, CEO of HydrogenPro, commented, “We are grateful for the trust and vote of confidence from our two largest industrial shareholders. Over the past few years, we have demonstrated the importance of our strong partnerships with MHI and ANDRITZ, delivering two of the world’s largest green hydrogen projects. This investment further strengthens the solid cooperation within technology and market development.”

Dragvik added, “We are further delighted to welcome LONGi Hydrogen as a strategic partner as we continue to execute on our vision of delivering sustainable hydrogen solutions globally. They bring first-class industrial and technical expertise. We see a great strategic fit that together with all of our industrial partners on board we will broaden our opportunities to further optimize our current offering on the market.”