What Norwegian Hydrogen does

Norwegian Hydrogen AS is a privately held Norwegian company founded in 2020 that produces and distributes green hydrogen via PEM (Proton Exchange Membrane) electrolysis powered by Norwegian hydropower, with capabilities expanding to pressurized alkaline electrolysis and on-site liquefaction for liquid hydrogen (LH2) delivery. The company operates a portfolio of production hubs and projects across Norway (Hellesylt, Rjukan, Ålesund/Ørskog, Stavanger, Karmsund, Narvik), Denmark (Port of Hirtshals/CONVEY, Grøn Brint JV), Sweden, and Finland (Tornio), with announced capacities ranging from 1.3 tonnes/day at the operational Hellesylt facility to more than 3,500 tonnes/year at the planned RjukanLH2 liquid hydrogen facility (targeting 2028 deliveries).

Its business model is B2B sales-led, monetizing green hydrogen through long-term, volume-based, multi-year supply contracts with industrial, maritime, and heavy-transport customers. Anchor offtake agreements include Samskip (LH2 for hydrogen-powered container vessels, MoU Dec 2025), MaserFrakt (heavy-duty transport, Feb 2026), Veidekke (emission-free asphalt, operational since 2023–2024), GreenIron (fossil-free metals, 2024–2025), and partners in the CONVEY ecosystem. Distribution occurs via direct delivery to customer sites, dedicated pipelines (CONVEY), bunkering infrastructure (RjukanLH2), and through the spun-off Vireon refueling network. Revenue is also generated via managed infrastructure and JV structures (Grøn Brint, Karmsund Hydrogen).

Capital is sourced from a mix of industrial shareholders (Flakk, Hexagon, Hofseth, Tafjord Kraftproduksjon), strategic corporate investors (Mitsui & Co. from Aug 2022; Fortescue Future Industries ~NOK 100M for 12.5% in Fall 2023), and significant public funding (NOK 46M Pilot-E for Hellesylt, EUR 31.5M EU Innovation Fund CAPEX, EUR 13.2M EU Hydrogen Bank OPEX, NOK 100M Innovation Norway for Rjukan). The technology stack relies on partners Nel (pressurized alkaline electrolysis) and Nikkiso (liquefaction) for RjukanLH2, with Worley Rosenberg executing FEED/EPC. Regulatory tailwinds include Norway's 2026 zero-emission fjord mandate, IMO decarbonization targets, and EU Green Deal/Hydrogen Bank subsidies.

Name

Norwegian Hydrogen

Legal name

Norwegian Hydrogen AS

Website

https://norwegianhydrogen.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Norwegian Hydrogen is a Norwegian private company that produces and distributes green hydrogen via hydropower-powered PEM electrolysis across the Nordics, serving maritime, heavy-transport, and industrial customers through long-term B2B supply contracts.

Ownership category

akta.pro rank

Product category

Green Hydrogen Production

NAICS

Industrial Gas Manufacturing (32512)

akta.pro primary industry

Hydrogen (Industrial & Mobility) (IMAEACAB)

akta.pro secondary industries

Hydrogen Storage Terminals, Depots & Bulk Logistics (Siting, Loading/Unloading) (EUAFAEAI), Hydrogen & Derivative Fuels for Industry (H₂, Ammonia, Methanol) (EUABAJAC), Hydrogen Distribution Pipelines (Local/Regional Networks) (TLAGAGAB)

Keywords

• Green hydrogen production
• Hydrogen distribution infrastructure
• Electrolysis plants
• Liquid hydrogen supply
• Hydrogen refueling stations

Headquarters

HQ city

Ålesund

HQ country

Norway

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain

Revenue model

1. Green Hydrogen Sales: Production and direct sale of green hydrogen (compressed and liquid form) to industrial, maritime, and heavy-transport customers via long-term supply contracts. Revenue is volume-based and recurring through offtake agreements.
2. Hydrogen Infrastructure Development and Operation: Development and operation of hydrogen production facilities and distribution infrastructure, including refueling stations, often through JV structures (e.g., Grøn Brint, Karmsund Hydrogen).

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Norwegian Hydrogen produces and distributes green hydrogen via electrolysis (PEM and pressurized alkaline) using hydropower, operating multiple production facilities and distribution infrastructure across the Nordics. The company also produces liquid hydrogen (LH2) for maritime and industrial customers, with capabilities spanning on-site liquefaction and a refueling network.

Product overview

Norwegian Hydrogen offers a portfolio of green hydrogen products and services spanning the full value chain: production facilities (Hellesylt, RjukanLH2, Stavanger, Ålesund/Ørskog, Karmsund, Tornio, Grøn Brint), distribution infrastructure, and supply agreements. Its Vireon subsidiary (spun off as independent company in February 2025) operates the refueling station network for heavy-duty road transport, while Norwegian Hydrogen directly serves maritime, industrial, and aviation sectors. Key customer agreements include Veidekke (asphalt), GreenIron (metals), MaserFrakt (heavy transport), and Samskip (maritime). The company operates across Norway, Denmark, Sweden, and Finland through subsidiaries.

Differentiator

Problem solved

Functional benefit

Brands

• Vireon: Hydrogen refueling station network for heavy-duty trucks in the Nordics. Originally a subsidiary of Norwegian Hydrogen, Vireon became an independent company on 25.02.25.

Products and services

• Green Hydrogen Production & Distribution
• Hellesylt Hydrogen Hub
• Rjukan LH2 (Liquid Hydrogen Production)
• Stavanger Hydrogen Hub
• Ålesund Hydrogen Hub (Ørskog)
• Karmsund Hydrogen

Quantifiable outcome

• Emission reductions of up to 99.8% compared to fossil fuels (RjukanLH2)
• +4 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

23 partnerships are on record, tiered core, major and supporting.

• MaserFraktcoreStrategic or Co-development Partner · 1 February 2026Long-term supply contract for green hydrogen for MaserFrakt's vehicle operations (600+ trucks, 500+ machines). Green hydrogen produced with hydropower enables significant CO2 reduction vs conventional fossil fuels. Collaboration developed with TRB Sverige AB as key partner in structuring the commercial framework.
• Worley RosenbergcoreImplementation/ SI/ Consulting Partner · 1 January 2026FEED (Front-End Engineering and Design) contract awarded to Worley Rosenberg for the 35 MW RjukanLH2 project, with option to proceed into EPC phase. FEED scope includes process, mechanical, electrical, civil, and instrumentation engineering plus integration of technology packages. EPC phase planned to begin H2 2026.
• SamskipcoreStrategic or Co-development Partner · 1 December 2025Norwegian Hydrogen selected as preferred supplier of liquid green hydrogen (LH2) for Samskip's two SeaShuttle container vessels (world's first hydrogen-powered container vessels). MoU signed December 2025 for cooperation covering Rotterdam-Oslo route. Samskip targets Net-Zero by 2040 (Science-Based Targets verified).
• GreenIron H2 ABcoreStrategic or Co-development Partner · 1 January 2024Norwegian Hydrogen supplies green hydrogen to GreenIron's direct reduction furnace in Sandviken, Sweden. Strategic agreement signed August 2025 to co-locate and build green hydrogen production plants and direct reduction furnaces at additional locations beyond the initial Sandviken facility.
• Provaris EnergycoreStrategic or Co-development Partner · 1 January 2023Collaboration to identify and develop green hydrogen value chain projects in the Nordics. Pre-feasibility study completed for exporting green hydrogen from Norway to Europe using Provaris' compressed hydrogen floating storage (H2Leo) and two H2Neo carriers. Project scale of 50,000 tonnes commencing 2027, with marine transport cost of EUR 1.00-1.50/kg.
• HydePointcoreStrategic or Co-development PartnerStrategic partnership to accelerate mid-size 10-40 MW dockside and near-shore green hydrogen projects within 2-3 years, with longer-term vision of large-scale offshore hydrogen integrated with offshore wind. HydePoint provides maritime hydrogen production technology; Norwegian Hydrogen provides infrastructure expertise. Also partner in Karmsund Hydrogen JV.
• VeidekkecoreStrategic or Co-development PartnerNorwegian Hydrogen supplies green hydrogen to Veidekke's emission-free asphalt production facilities in Kristiansund (world's first hydrogen-only asphalt plant, operational 2023) and Ålesund (opened September 2024). Veidekke is one of Scandinavia's largest contractors with turnover of ~NOK 39 billion and 8,000 employees.
• Nel (letter of intent)majorTechnology or IntegrationLetter of intent signed with Nel for supply of pressurized alkaline electrolysis technology for the RjukanLH2 project.
• NikkisomajorTechnology or IntegrationStrong commitment with Nikkiso for supply of the liquefaction plant equipment for RjukanLH2 liquid hydrogen production facility.
• TRB Sverige ABsupportingStrategic or Co-development PartnerTRB Sverige AB acted as active partner in MaserFrakt's hydrogen initiative, structuring the commercial framework and negotiating the supply setup for green hydrogen. TRB is a Swedish transport and logistics network owned by leading regional transport companies.
• Grøn Brint A/ScoreStrategic or Co-development Partner50/50 joint venture between Norwegian Hydrogen and energy entrepreneur Jens Peter Lunden. Grøn Brint owns and operates electrolysis plants for production of green hydrogen, primarily for use in production of liquid biogas (LBG). Quest One delivers PEM-electrolysis technology. Uses innovative technology first applied at full scale by GrønGas A/S.
• Karmsund HydrogencoreStrategic or Co-development PartnerJoint venture owned by Norwegian Hydrogen, Sigma, and Karmsund Group, partnering with HydePoint to build green hydrogen facility at Karmsund Group's Service Base. Project targets >3000 tonnes/year from 20 MW electrolysis. Targeting first hydrogen deliveries in 2028.
• Tinn EnergimajorOthersLong-term power purchase agreement (PPA) with Tinn Energi for renewable electricity sourced directly from the Rjukan grid, ensuring stable energy supply and full traceability for green hydrogen production at RjukanLH2.
• VireoncoreChannel Partner/ Reseller/ DistributorVireon (spun off from Norwegian Hydrogen in February 2025) develops and operates refueling stations for heavy-duty trucks. Vireon operates refueling stations in the Nordics and Norwegian Hydrogen is a key hydrogen supplier. The CONVEY project includes Vireon operating a refueling station at Hirtshals Transport Center.
• Port of HirtshalssupportingStrategic or Co-development PartnerCONVEY project lead partner offering strategic port location and infrastructure, serving as the physical hub for hydrogen production, logistics, and distribution. Port decarbonization is a key focus.
• Greenport NorthsupportingStrategic or Co-development PartnerCONVEY project partner supporting port development and sustainability alignment.
• Hirtshals Transport CentersupportingStrategic or Co-development PartnerCONVEY project partner contributing logistics and transportation expertise, critical for refueling station establishment and hydrogen distribution to end-users.
• VTT Technical Research Centre of FinlandsupportingTechnology or IntegrationCONVEY project partner bringing scientific research and technological development, focusing on modeling and optimization of the integrated energy ecosystem.
• OpourasupportingTechnology or IntegrationCONVEY project partner — Danish electrical engineering and green energy software company working with VTT on heuristic plant modelling platform for operation and optimization of the total energy ecosystem.
• Hydrogen ValleysupportingStrategic or Co-development PartnerCONVEY project partner — Danish consultancy specializing in hydrogen applications and EU-funded projects, handling stakeholder management and information dissemination.
• BiomegasupportingStrategic or Co-development PartnerCONVEY project partner demonstrating green hydrogen use by replacing natural gas in their industrial operations via a dedicated pipeline from the electrolyzer.
• Onnest (formerly Lancar Nutri)supportingStrategic or Co-development PartnerCONVEY project partner exploring use of oxygen and heat byproducts from hydrogen production in aquaculture applications.
• Vendelbo SpeditionsupportingStrategic or Co-development PartnerCONVEY project partner demonstrating use of heavy-duty hydrogen trucks and contributing logistics and transportation expertise.

Scale indicators17 records

Recent moves8 records

Expansion highlights3 records

Emerging players

• Stegra (formerly H2 Green Steel): Swedish green steel producer using green hydrogen for direct reduction of iron ore. Comparable to Norwegian Hydrogen because both are Nordic-based green hydrogen industrial offtakers/suppliers targeting fossil-free metals, and serve the same regulatory tailwind (EU Green Deal, industrial decarbonization mandates).
• Fortescue Future Industries: Global green energy and technology subsidiary of Fortescue, focused on green hydrogen, green ammonia, and industrial decarbonization. Comparable to Norwegian Hydrogen because Fortescue is both a major shareholder (12.5%) and a strategic competitor in the green hydrogen production race for hard-to-abate industrial customers (steel, shipping).
• Yara Clean Ammonia: Norwegian-headquartered producer and global distributor of clean ammonia, derived from hydrogen. Comparable to Norwegian Hydrogen because both target the maritime and industrial decarbonization value chain in the Nordics and use Norwegian hydropower as a feedstock, with overlapping customer pipelines in shipping and fertilizers.

Broad incumbents

• Plug Power Inc. US-listed turnkey hydrogen solutions provider covering production, liquefaction, storage, and fuel cells. Comparable to Norwegian Hydrogen because both target hard-to-abate end markets (heavy-duty transport, industrial) with end-to-end green hydrogen infrastructure offerings, although Plug Power is more vertically integrated into fuel cells and refueling.
• Linde plc: Global industrial gases major (including hydrogen, oxygen, and LNG). Comparable to Norwegian Hydrogen because Linde is an incumbent supplier of merchant hydrogen and increasingly green hydrogen across industrial and mobility customers globally, including in Northern Europe where Norwegian Hydrogen competes for the same offtake.
• Air Products and Chemicals: Global industrial gases and hydrogen major with large-scale green hydrogen projects in development worldwide. Comparable to Norwegian Hydrogen because Air Products is pursuing the same end-customers (refining, steel, mobility, shipping) with similar green hydrogen value chain economics, but with global scale, deeper capex capacity, and existing merchant hydrogen relationships.
• Cummins Accelera: Cummins' zero-emission powertrain business covering hydrogen fuel cells, electrolyzers, and related infrastructure. Comparable to Norwegian Hydrogen because both target industrial and heavy-duty transport decarbonization with hydrogen-based solutions and overlap on customer pipelines in Europe and North America.

Direct peers

• Everfuel A/S: Danish green hydrogen producer and distributor focused on mobility end-customers in the Nordics and Northern Europe. Comparable to Norwegian Hydrogen because both produce and distribute green hydrogen under long-term offtake contracts to heavy-duty transport and industrial customers across Denmark, Sweden, and Norway.
• Nel ASA: Norwegian-listed electrolyzer manufacturer and green hydrogen producer with a Nordic and global footprint. Comparable to Norwegian Hydrogen because both target green hydrogen production from hydropower for industrial and mobility end-markets in the Nordics, and Nel is also a technology supplier to Norwegian Hydrogen's RjukanLH2 project, making them both collaborator and competitor.
• Hexagon Purus ASA: Norwegian hydrogen storage and distribution systems provider for heavy-duty vehicles and maritime. Comparable to Norwegian Hydrogen because both sit in the Nordic hydrogen value chain, share several industrial shareholders (Hexagon group), and target overlapping mobility and industrial offtake markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/norwegianhydrogen
• LinkedInlinkedin.com/company/norwegian-hydrogen

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Norwegian Hydrogen