Gen2 Energy
Gen2 Energy is a Norwegian green hydrogen developer building industrial-scale liquefied and compressed hydrogen facilities powered by hydropower, targeting maritime, industrial, steel, and aviation customers across Northern Europe with a 995 MW project portfolio and first production targeted for 2028.
- Company typePrivate
- Founded2021
- HeadquartersHorten, Norway
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Gen2 Energy does
Gen2 Energy AS is a Norwegian green hydrogen project developer founded in 2019, headquartered in Borre/Horten with corporate offices in Åsgårdstrand and Oslo and production project sites along the Norwegian coast. The company is building an integrated value chain for industrial-scale production, liquefaction, containerisation, and seaborne distribution of green hydrogen, targeting maritime operators, steel and process industries, sustainable aviation fuel producers, and European energy traders. Core technology centres on electrolysis powered by Norway's near-100% hydropower base — which exempts its output from the EU additionality principle and secures RFNBO compliance — combined with industrial-scale hydrogen liquefaction facilities and proprietary containerised compressed hydrogen transport systems (1-tonne, 500-bar containers) and custom hydrogen carrier vessel designs.
The company's business model is project-development driven and pre-revenue: it secures land leases, grid capacity reservations, regulatory permits, and grant funding to develop production sites, then enters into long-term offtake agreements with industrial off-takers. Commercial relationships to date consist of MoUs and Transaction Term Sheets with LH2 Shipping (maritime bunkering), SEFE/WINGAS (Germany distribution), Tata Steel Netherlands (steel decarbonisation), MB Energy (German offtake), and Norsk e-Fuel (SAF feedstock). The project portfolio totals approximately 995 MW across four sites — Nesbruket (195 MW), Holandsvika (500 MW), Monstad (150 MW), and Farsund (150 MW) — with first production at Nesbruket targeted for 2028. Capital sources include a NOK 150 million share offering (March 2022), Norwegian public grants (Innovation Norway, Enova, SkatteFUNN, Green Platform Initiative, regional research funds), a €62 million EU Innovation Fund award (May 2026), and private equity from HYCAP Group and Piney Point, with a minority strategic stake held by Höegh LNG. The company was selected for the EU Innovation Fund 2025 Hydrogen Auction on the basis of price and technical maturity.
Gen2 Energy firmographics
Firmographics- Name
- Gen2 Energy
- Legal name
- Gen2 Energy AS
- Website
- https://gen2energy.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Gen2 Energy is a Norwegian green hydrogen developer building industrial-scale liquefied and compressed hydrogen facilities powered by hydropower, targeting maritime, industrial, steel, and aviation customers across Northern Europe with a 995 MW project portfolio and first production targeted for 2028.
- Ownership category
- akta.pro rank
Gen2 Energy industry classification
Industry- Product category
- Green Hydrogen Production and Supply
- NAICS
- Electric Power Generation (22111), Other Electric Power Generation (221118)
- SIC
- Engines & Turbines (3510), Motors & Generators (3621), Water Transportation (4400)
- akta.pro primary industry
- Hydrogen (Industrial & Mobility) (IMAEACAB)
- akta.pro secondary industries
- Hydrogen Distribution Pipelines (Local/Regional Networks) (TLAGAGAB), Fuel Cell (Hydrogen) Bus Manufacturing (IMACADAF), Hydrogen Pipeline Construction, Conversion & Rehabilitation (Repurposing NG Pipelines) (TLAGAGAI), Hydrogen & Derivative Fuels for Industry (H₂, Ammonia, Methanol) (EUABAJAC)
Keywords
Where Gen2 Energy is headquartered
LocationHeadquarters
- HQ city
- Horten
- HQ country
- Norway
- HQ region
- Europe
Offices6 records
Markets served
Gen2 Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Technology or R&D, Personnel, Operations, Marketing or Sales
Revenue model
- Liquefied Green Hydrogen Sales: Gen2 Energy produces liquefied green hydrogen at its Norwegian production facilities (Nesbruket, Monstad, Holandsvika, Farsund) and sells it directly to maritime customers and industrial off-takers under long-term offtake agreements. Revenue is generated through the sale of LH2, with the company holding €62M Innovation Fund award to close the cost gap versus conventional marine fuels.
- Compressed Green Hydrogen Container Sales: Sale of containerised compressed green hydrogen shipped via dedicated vessels to customers in Germany, Netherlands, and UK. Hydrogen is delivered in specially designed 40-foot containers and transported by ship from Norwegian production sites to European ports. Long-term Sales and Purchasing Agreements underpin recurring revenue streams.
- Over-the-Fence Hydrogen Supply (Norsk e-Fuel): Direct supply of green hydrogen as feedstock to neighbouring Norsk e-Fuel facility at Nesbruket for sustainable aviation fuel (e-Fuel) production. Short-distance pipeline/over-the-fence supply of hydrogen feedstock, generating recurring revenue from industrial customer within same industrial site.
Go-to-market motion3 records
Distribution channels4 records
Marketing channels4 records
Gen2 Energy product offering
Product offeringCore offering
Gen2 Energy creates, runs, and manages an integrated green hydrogen supply chain. It produces liquefied and containerised compressed green hydrogen from hydropower-powered electrolysis at four Norwegian coastal sites and sells it via long-term offtake agreements to maritime operators, steel manufacturers and energy companies across Northern Europe. The offering combines industrial-scale hydrogen production, proprietary containerised logistics, and dedicated seaborne vessel transport for delivery to European ports.
Product overview
Gen2 Energy is a Norwegian green hydrogen production company operating multiple production facilities along the Norwegian coast (Nesbruket 195 MW, Holandsvika 500 MW, Monstad 150 MW, and Farsund 150 MW), totaling approximately 995 MW of planned capacity. The company produces and distributes two main product forms: liquefied green hydrogen (LH2) from the Nesbruket facility for maritime customers, and compressed green hydrogen delivered via containerized 40-foot shipping containers. Products integrate proprietary container solutions and vessel transportation for distribution across Europe. The portfolio targets maritime, mobility, and industrial sectors with RFNBO-compliant hydrogen meeting EU sustainability standards.
Differentiator
Problem solved
Functional benefit
Products and services
- Liquefied Green Hydrogen (LH2)
Quantifiable outcome
- Avoid approximately 9 million tonnes of CO2 equivalent emissions over 10 years from the EU-selected hydrogen projects portfolio (Gen2 Nesbruket part of this)
- +1 more outcomes
Companies that use Gen2 Energy
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles3 records
Gen2 Energy technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Gen2 Energy partnerships and signals
Strategic signalPartnerships
25 partnerships are on record, tiered core, minor and flagship.
- LH2 ShippingcoreLH2 Shipping will receive liquid hydrogen bunkering supply from Gen2 Energy's green hydrogen production facility at Mosjøen for its fleet of six zero-emission vessels, including two liquid hydrogen-powered 7,700-dwt bulk carriers for the StrandBulk Project. This partnership is a core element of Gen2 Energy's maritime offtake strategy.
- StatnettcoreGrid operator providing 150 MW grid capacity reservation for Monstad project in Åfjord. Statnett plays a key role in planned grid development in the Helgeland region. Partnership critical for securing power supply to production facilities.
- TensiocoreDistribution grid operator collaborating with Statnett on grid capacity for Monstad project in Åfjord. Tensio and Statnett working closely with Gen2 Energy toward project realisation.
- LineacoreLinea (formerly Tensio/Helgeland Kraft) involved in power grid supply for Nesbruket project. Working with Gen2 Energy toward realisation of the Mosjøen hydrogen facility.
- Mosjøen og Omegn Næringsselskap (MON)coreMON and Vefsn municipality acknowledged for strong and constructive collaboration in achieving the 195 MW grid capacity reservation for Nesbruket project. MON has supported Gen2 Energy's local development in Mosjøen since 2021.
- MB EnergycoreMoU signed at Hydrogen Technology World Expo Hamburg for collaboration on production, offtake and distribution of RFNBO-compliant liquid hydrogen from Gen2 Energy's Nesbruket project to MB Energy's end customers in Germany. Three-year collaboration examining logistics and transport options for liquid hydrogen supply chain.
- Statnett (Norwegian Ministry of Energy)coreNorwegian Ministry of Energy approved Statnett's Helgeland KVU (concept study), enabling grid development to proceed with Concept 1 stepwise expansion. Critical for Gen2 Energy's green hydrogen production dependent on large renewable energy access in the Helgeland region.
- Farsund MunicipalitycoreLong-term lease agreement for Lundevågen Havneområde industrial site (60+ acres) for large-scale green hydrogen production near Norway's first major offshore wind park connection. Farsund municipality supports establishment as green industry initiative.
- Tata Steel NetherlandscoreCollaboration agreement signed during Dutch King Willem-Alexander's Norway visit for import of liquid hydrogen to Tata Steel's IJmuiden plant for decarbonisation. Part of four-party partnership including ECOLOG and Port of Amsterdam, representing one of the first concrete industrial hydrogen supply agreements in Europe.
- ECOLOGcoreECOLOG (with Eos Terminal, planned as world's largest liquid hydrogen storage and distribution hub in Amsterdam) will provide specialised liquid hydrogen vessels for transport from Gen2 Energy's Norwegian facilities and handle import, storage, and distribution to industrial consumers including Tata Steel.
- Port of AmsterdamcorePart of four-party hydrogen partnership to import liquid hydrogen to the Netherlands. Port of Amsterdam facilitates hydrogen distribution via pipeline, road, rail, and inland waterways to industrial consumers including Tata Steel.
- Norsk e-FuelcoreCollaboration on green hydrogen supply for e-Fuel (sustainable aviation fuel) production at Nesbruket. Gen2 Energy supplies hydrogen 'over the fence' as feedstock, enabling Norsk e-Fuel to double production from 25 to 50 million litres per year. Joint infrastructure development and project coordination at adjacent industrial plots.
- WINGAS GmbH (subsidiary of SEFE)coreTransaction Term Sheet signed in London for green hydrogen delivery from Gen2 Energy to Germany. WINGAS, as SEFE's trading subsidiary, empowered to enter advanced discussions with end-users following the Term Sheet agreement.
- Port of HelgelandcoreAgreement on planning and design of quay at Nesbruket, coordinated with hydrogen plant construction. Port of Helgeland (inter-municipal company) provides port expertise and tailored solutions, contributing to making Mosjøen one of the largest container ports in Northern Norway.
- Norsk e-FuelcoreEarlier MoU to collaborate on development of Mosjøen as key green industry location, including common access to additional land and joint infrastructure for green industrial processes. Tri-lateral option agreement signed with Vefsn Municipality for purchase of additional land including administration offices, parking, workshops, and laboratory.
- SEFE Group (Securing Energy for Europe)coreMoU and Transaction Term Sheet signed for long-term delivery and offtake of containerised compressed green hydrogen from Gen2 Energy's Norwegian production facilities to customers in Germany and North-West Europe via WINGAS GmbH subsidiary. Sales and Purchasing Agreement targeted; Gen2 Energy presented at Hannover Fair alongside SEFE for German Chancellor and Norwegian PM.
- Åfjord MunicipalitycoreLong-term lease agreement for Monstad Havneområde industrial site (41 acres) for large-scale green hydrogen production and quay access for export. Åfjord municipality supports industrial establishment as part of its green shift strategy, creating new jobs and population growth.
- Wood GroupcoreWood awarded FEED (front-end engineering design) contract for Gen2 Energy's first large-scale green hydrogen production facility in Mosjøen. Wood applies decades of hydrogen expertise and project implementation capabilities to develop the 100MW plant.
- Grieg LogisticsminorLetter of intent for cooperation on planning, design, and operation of terminals at Mosjøen Industriterminal (MIT). Grieg Logistics to provide end-to-end ship services, maritime logistics, terminal operating systems and digital solutions, supporting Gen2 Energy's seaborne hydrogen logistics.
- Nova SeaminorPartnership to explore use of hydrogen as fuel, supporting Nova Sea's decarbonisation of maritime operations in the salmon farming sector.
- Alcoa NorwayminorLetter of intent signed to explore potential use of green hydrogen in Alcoa's aluminium operations in Mosjøen, including maritime logistics (Mosjøen-Rotterdam shipping), grid utilisation and power sharing, and local use of oxygen by-products. Alcoa is Gen2 Energy's neighbour at the industrial site.
- Truck og MaskinminorCooperation agreement to establish local hydrogen supply chain in Mosjøen. Truck og Maskin, provider of heavy-duty vehicles, to work with Gen2 Energy to enable zero-emission solutions for regional industrial customers and contribute to creating a national Hydrogen Hub in Mosjøen.
- Vefsn MunicipalitycoreAgreements signed for purchase of two plots in Mosjøen: Nesbruket area (~25 acres) and Holandsvika area (~40 acres) for hydrogen production facilities, with Port of Helgeland as party for quay solutions. Municipality provides industrial land and regulatory support.
- Höegh LNGcoreHöegh LNG acquired a minority stake in Gen2 Energy and signed a cooperation agreement on seaborne logistics for green hydrogen transport. Höegh LNG contributes extensive experience in shipping, import of natural gas, energy infrastructure and complex logistics chains. Partnership targets first-mover position in seaborne transport of green hydrogen.
- Port of Cromarty FirthflagshipMoU signed to create commercial pathway to export green hydrogen from Norway to the UK. Port of Cromarty Firth will serve as UK transhipment hub, with hydrogen distributed by road, rail and sea to customers across Scotland, UK, and Europe. Described as historic moment for establishing a hydrogen value chain between Norway and the UK.
Scale indicators14 records
Recent moves6 records
Expansion highlights5 records
Gen2 Energy competitors and assessment
Company assessmentDirect peers
- Nel ASA: Norwegian electrolyzer manufacturer and green hydrogen project developer (via Nel Hydrogen Electrolyser AS) with U.S., Norway, and Denmark deployments. Comparable as a Norwegian pure-play hydrogen company, though Nel is upstream equipment-focused while Gen2 is downstream production/of-supply focused.
- Everfuel A/S: Danish green hydrogen producer and distributor developing HySynergy (Fredericia) and other European sites for industrial and mobility customers. Direct competitor in Northern European green hydrogen supply with comparable scale and industrial offtake focus.
Emerging players
- HH2E: German green hydrogen project developer planning large-scale electrolyzer hubs in northern Germany for industrial and mobility offtake. Comparable in European green hydrogen supply targeting German industrial customers (parallel to Gen2's SEFE/MB Energy agreements).
- Höegh LNG Holdings: Maritime LNG carrier and infrastructure company that acquired a minority stake in Gen2 Energy and partnered on seaborne hydrogen logistics. Comparable as a partner/customer in LH2 shipping infrastructure, transitioning LNG expertise toward hydrogen transport.
Broad incumbents
- Copenhagen Infrastructure Partners (CIP): Major infrastructure investor developing large-scale Power-to-X projects (e.g., Project Greensand Denmark, Everfuel partnerships) for green hydrogen and e-fuels. Comparable via Northern European green hydrogen project development targeting maritime and industrial offtake.
- Linde plc: Global industrial gases giant (merger of Linde and Praxair) with green hydrogen projects across Europe and North America, plus existing hydrogen pipeline and liquefaction infrastructure. Comparable in industrial-scale hydrogen production and supply to refining, steel, and chemicals customers.
- Air Products & Chemicals: Global industrial gases major with major green/blue hydrogen projects (NEOM in Saudi Arabia, Rotterdam). Comparable in large-scale hydrogen liquefaction and maritime fuel supply, particularly relevant as Air Products is a leading industrial hydrogen supplier and LH2 logistics provider.
- Equinor: Norwegian energy major with significant hydrogen ambitions (H2M Eemshaven, Northern Lights CCUS) and is an LNG/blue hydrogen producer. Comparable via Norwegian industrial base, maritime fuel value chain, and large-scale project development capabilities; broader incumbent portfolio than Gen2's pure-play green H2 focus.
- Shell Hydrogen: Integrated energy major with multiple hydrogen projects across Europe (H2REF in Rotterdam, NortH2 consortium). Comparable via industrial-scale hydrogen for refining/steel/mobility, RFNBO strategy, and maritime bunkering ambitions via Shell's existing shipping customer base.
- Iberdrola / BP / TotalEnergies hydrogen ventures: Large integrated energy companies with substantial green hydrogen pipelines across Spain (Iberdrola), UK (BP HyDeploy/Tees Valley), and France (TotalEnergies). Comparable in RFNBO-compliant hydrogen production targeting European industrial and mobility customers, though with broader renewable portfolios.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Gen2 Energy social profiles
Digital presenceGen2 Energy compliance and trust
Trust signalCompliance1 record
Gen2 Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Gen2 Energy leadership team
Management profileNumber of profiles
Profiles10 records
Gen2 Energy funding detail
Funding detailFunding overview
Funding rounds1 record
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Gen2 Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Gen2 Energy
What does Gen2 Energy do?
Gen2 Energy creates, runs, and manages an integrated green hydrogen supply chain. It produces liquefied and containerised compressed green hydrogen from hydropower-powered electrolysis at four Norwegian coastal sites and sells it via long-term offtake agreements to maritime operators, steel manufacturers and energy companies across Northern Europe. The offering combines industrial-scale hydrogen production, proprietary containerised logistics, and dedicated seaborne vessel transport for delivery to European ports.
Is Gen2 Energy a public or private company?
Gen2 Energy is a private company. It is classified as private equity controlled and is currently operating.
When was Gen2 Energy founded?
Gen2 Energy was founded in 2021. It employs 11 to 50 people.
Where is Gen2 Energy based?
Gen2 Energy is headquartered in Horten, Norway, in the Europe region.
How does Gen2 Energy make money?
Three revenue lines are on record. Liquefied Green Hydrogen Sales are the primary driver. The others are compressed Green Hydrogen Container Sales and over-the-Fence Hydrogen Supply (Norsk e-Fuel).
Who are Gen2 Energy's main competitors?
Direct peers on record are Nel ASA and Everfuel A/S. Emerging players are HH2E and Höegh LNG Holdings. Broad incumbents are Copenhagen Infrastructure Partners (CIP), Linde plc, Air Products & Chemicals, Equinor, Shell Hydrogen and Iberdrola / BP / TotalEnergies hydrogen ventures.
Does Gen2 Energy have an API?
No public API is recorded for Gen2 Energy.
What industry is Gen2 Energy in?
Gen2 Energy's product category is Green Hydrogen Production and Supply. Its primary akta.pro industry code is IMAEACAB, Hydrogen (Industrial & Mobility), with a secondary code of TLAGAGAB, Hydrogen Distribution Pipelines (Local/Regional Networks). Its NAICS code is 22111 and its SIC code is 3510.