What HYDRIE does

Hydri develops and operates green hydrogen infrastructure for transport and industrial customers in Sweden and Norway, headquartered in Göteborg. The company is a wholly-owned subsidiary of Qarlbo Energy and operates through two subsidiaries: Hydri Infrastructure AB, which runs a nationwide refueling station network, and Hydri Solutions AB (formerly Nilsson Energy), which delivers turnkey hydrogen production, storage, and dispensing systems. Hydri's core product is a network of refueling stations equipped with dual-pressure dispensers (350 bar H35 for heavy vehicles and 700 bar H70 for passenger cars), backed by on-site or off-grid electrolysis-based green hydrogen production and compression up to 380 bar for tube-trailer distribution. Ten stations were operational as of May 2026 along major Swedish transport corridors from Trelleborg to Kiruna, co-located with Rasta truck stops, with a stated roadmap to 12 stations by end-2026 and 19 by 2028.

The company serves heavy-duty transport and logistics operators, municipalities, industrial and energy companies, and passenger vehicle owners, with Volvo Lastvagnar Sverige and Scania as strategic OEM partners developing hydrogen-powered trucks that use the network for testing and pilot deployments. Hydri generates revenue through multiple streams: per-kilogram hydrogen fuel sales at stations, one-time turnkey hydrogen system projects (such as the 2 MW Å Energi plant at Pikerfoss, Norway, and a 14.2 million SEK municipal energy system for Mariestads Kommun), advisory and engineering consulting, recurring service and maintenance contracts, and the HydriCard corporate fleet payment program with monthly invoicing. The company is positioned as a first-mover in Swedish hydrogen infrastructure, reinforced by co-founding the H2 Infrastructure Alliance with five other European station operators and securing a board seat at industry association Vätgas Sverige.

Commercially, Hydri pursues an enterprise field-sales go-to-market, engaging directly with fleet operators, trucking companies, and public-sector buyers, supplemented by the HydriCard channel for fleet management. Pricing is quote-based and negotiated rather than publicly disclosed, reflecting the bespoke nature of turnkey projects and the early-stage state of hydrogen fuel pricing. Capital intensity is high given the per-station cost of electrolysis, compression, and dual-dispenser infrastructure, but the company is backed by Qarlbo Energy, which combines active ownership with capital access from Qarlbo and FAM-owned Thisbe. The strategic thesis is to solve the chicken-and-egg problem between hydrogen vehicles and refueling availability by building nationwide coverage that unlocks fleet adoption in heavy transport.

Name

HYDRIE

Legal name

Hydri/REH2 AB

Website

https://hydri.energy/en

Company type

Private

Operating status

Operating

Short description

Hydri builds and operates Sweden's first nationwide green hydrogen refueling station network and delivers turnkey hydrogen production and storage systems for heavy transport, municipalities, and industrial customers across the Nordics.

Ownership category

akta.pro rank

Product category

Green Hydrogen Infrastructure

NAICS

Pump and Compressor Manufacturing (33391), Air and Gas Compressor Manufacturing (333912)

SIC

Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Hydrogen (Industrial & Mobility) (IMAEACAB)

akta.pro secondary industries

Hydrogen Energy Storage & Power-to-X Equipment (electrolyzers, storage, fuel cell systems) (IMAGAHAM), Hydrogen Storage & Compression Terminals (TLAGAKAH), Hydrogen Storage Terminals, Depots & Bulk Logistics (Siting, Loading/Unloading) (EUAFAEAI)

Keywords

• Green hydrogen infrastructure
• Hydrogen refueling stations
• Turnkey hydrogen solutions
• Hydrogen fuel distribution
• Fleet hydrogen systems

Headquarters

HQ city

Göteborg

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Hydrogen Fuel Sales: Sale of green hydrogen as a transportation fuel through the company's network of refueling stations, sold per kilogram to fleet operators, trucking companies, and individual vehicle owners.
2. Turnkey Hydrogen Systems: Design, implementation, and commissioning of complete hydrogen production, storage, and dispensing systems for industrial customers, municipalities, and facility operators. Includes hydrogen production plants with electrolysis capacity and compression infrastructure.
3. Advisory and Consulting Services: Technical consulting and engineering advisory services for organizations exploring hydrogen integration, including feasibility studies, strategic planning, and technology selection.
4. Service and Maintenance Contracts: Ongoing maintenance, performance optimization, and preventive maintenance services for installed hydrogen systems, ensuring reliability and extended system lifespan.
5. HydriCard Fleet Management: Corporate fuel card program allowing businesses to manage hydrogen fuel consumption with monthly invoicing and consolidated reporting for company vehicle fleets.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Hydri develops and operates green hydrogen refueling infrastructure and delivers turnkey hydrogen energy solutions for transport and industrial customers. The company builds and operates a nationwide Swedish network of hydrogen refueling stations equipped with dual-pressure dispensers (350 bar for heavy vehicles and 700 bar for passenger cars), and provides end-to-end hydrogen systems including advisory services, electrolysis-based production plants, storage, distribution, and ongoing maintenance.

Product overview

Hydri offers a comprehensive hydrogen ecosystem consisting of three main pillars: a nationwide network of hydrogen refueling stations (Vätgasstationer), end-to-end hydrogen solutions (Vätgaslösningar), and the HydriCard payment solution. The refueling infrastructure provides 100% green hydrogen at stations operating at 350 bar and 700 bar pressure levels for both heavy and light vehicles. The hydrogen solutions portfolio includes advisory services, turnkey production systems with electrolysis technology, storage and distribution capabilities, and ongoing maintenance. HydriCard enables businesses to manage fuel costs through a PIN-protected payment card with monthly invoicing. The company, part of Qarlbo Energy, is expanding a network of 19 planned stations by 2028.

Differentiator

Problem solved

Functional benefit

Brands

• HydriCard: Payment card for hydrogen refueling at Hydri stations, offering monthly invoicing and consolidated overview of fuel consumption for business fleet management.

Products and services

• Hydrogen Refueling Stations (Vätgasstationer) A nationwide network of hydrogen refueling stations providing green hydrogen for heavy-duty vehicles (trucks, buses) and passenger cars. Stations operate at 350 bar (H35) and 700 bar (H70), with refueling in 3-5 minutes for cars and 20-25 minutes for heavy vehicles. Available to enterprise fleet operators and commercial transport companies.
• Hydrogen Solutions (Vätgaslösningar) - Turnkey Systems Comprehensive end-to-end hydrogen energy solutions including design, implementation, and commissioning of complete hydrogen production, storage, and dispensing systems for industrial customers, municipalities, and facility operators. Features electrolysis-based production with flexible options from renewable sources or grid connection.
• HydriCard Corporate Fleet Card A PIN-protected payment card for businesses with hydrogen vehicle fleets. Works at all Hydri filling stations in Sweden with monthly invoicing and consolidated overview of all refuelings. Terms negotiated directly with sales team.
• Advisory Services & Engineering Consultation Expert technical consulting and engineering advisory services for organizations exploring hydrogen integration, including feasibility studies, strategic planning, and technology selection.
• Service and Maintenance Contracts Ongoing preventive maintenance, performance optimization, and reliability services ensuring stable operation and extended system lifespan for installed hydrogen infrastructure and systems.

Quantifiable outcome

• 8 million kg CO2 saved per station per year, equivalent to heating 2000 households
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Vätgas SverigecoreStrategic or Co-development Partner · 10 July 2026Industry association bringing together industry, academia, and public sector to accelerate hydrogen transition. Hydri CEO Kamilla Björkman serves on the board. Association has 140+ member companies and serves as Sweden's central hub for hydrogen matters.
• H2 Infrastructure AlliancecoreStrategic or Co-development Partner · 19 May 2026Six European hydrogen station operators formed alliance to coordinate and accelerate hydrogen station deployment and vehicle launches through 2028. Members: Hydri (Sweden), TEAL Mobility (France), Fountain Fuel (Netherlands), H2 MOBILITY (Germany), Virya Energy (Belgium), HYmpulsion (France). Together operate 92 stations with 39 more planned, capacity for 1800+ trucks daily.
• ScaniacoreStrategic or Co-development Partner · 5 March 2025Truck manufacturer actively working with hydrogen-powered vehicles. Uses Nykvarn station for testing and pilot projects. Tony Sandberg, VP Scania Pilot Partner, participates in hydrogen initiatives.
• RastacoreChannel Partner/ Reseller/ DistributorStrategic partnership with Sweden's largest truck stop network. Rasta has 15,000 daily heavy vehicle visitors at well-known locations along major roads. Hydri stations built in connection with Rasta service facilities.
• Maximator HydrogencoreTechnology or IntegrationTechnology partner for hydrogen infrastructure development. Collaboration mentioned in context of station network expansion.
• Naturvårdsverket (Swedish Environmental Protection Agency)minorOthersGovernment agency providing funding through Klimatklivet grants to support hydrogen infrastructure development and deployment.
• Volvo Lastvagnar SverigecoreStrategic or Co-development PartnerLeading Swedish truck manufacturer developing hydrogen-powered vehicles. Collaborated on hydrogen truck demonstrations during network inauguration. Co-authored 'Vätgas på vägarna' report with 9 proposals for heavy transport decarbonization.
• MaserFraktminorChannel Partner/ Reseller/ DistributorTransportation/logistics company using hydrogen trucks. Represented by Frida Jahnke, drivmedelsansvarig, at network inauguration. Early adopter of hydrogen for commercial fleet operations.
• Å EnergicoreStrategic or Co-development PartnerNorwegian energy company. Hydri delivered complete hydrogen production plant at Pikerfoss with 2 MW electrolyser and 380 bar compression for tube trailer filling. Scheduled to be operational end of 2025.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• H2 MOBILITY Deutschland: Germany's largest hydrogen refueling station operator and founding member (with Hydri) of the H2 Infrastructure Alliance. Directly comparable in business model: operates owned hydrogen refueling network serving commercial fleets and passenger vehicles, with 350/700 bar dispensers. Most relevant direct peer given shared European rollout ambition and alliance partnership.
• Everfuel: Danish green hydrogen infrastructure company developing hydrogen production, distribution, and refueling stations across Scandinavia and Northern Europe. Directly comparable as a Nordic green-hydrogen station operator pursuing similar fleet and heavy-vehicle customers.
• TEAL Mobility: French hydrogen mobility company and H2 Infrastructure Alliance member. Operates hydrogen refueling stations for commercial fleets in France. Directly comparable business model and a coordination partner through the same alliance.
• Fountain Fuel: Dutch hydrogen refueling station operator and H2 Infrastructure Alliance member. Operates hydrogen refueling network in the Netherlands with similar fleet-customer focus. Directly comparable as an alliance partner and European station operator.
• HYmpulsion: French hydrogen mobility joint venture (Engie/Suez/Plastic Omnium) operating hydrogen refueling stations for trucks and heavy-duty fleets. Directly comparable as an H2 Infrastructure Alliance member and heavy-duty hydrogen operator.
• Virya Energy: Belgian hydrogen refueling infrastructure operator and H2 Infrastructure Alliance member. Operates hydrogen stations in Belgium with similar fleet-customer and turnkey EPC exposure. Directly comparable as an alliance partner.

Emerging players

• Nel ASA: Norwegian hydrogen technology company manufacturing alkaline and PEM electrolysers and hydrogen refueling station equipment. Comparable as a key supplier of electrolyzer technology to the hydrogen ecosystem in which Hydri operates; partial overlap in hydrogen station design/build.
• ITM Power: UK-based manufacturer of PEM electrolysers and integrated hydrogen refueling solutions for transport and industrial applications. Comparable as a turnkey hydrogen equipment provider that could compete for industrial customer projects in the Nordic region.

Broad incumbents

• Shell Hydrogen: Global energy major operating hydrogen refueling stations across Europe (Germany, Netherlands, UK) and pursuing large-scale green hydrogen production. Comparable as a broad incumbent with deeper capital and existing fuel retail infrastructure that could out-scale Hydri in the same corridors.
• Linde plc: Global industrial gases leader (Linde/Praxair) supplying hydrogen (including green) for industrial and mobility applications, with significant Nordic operations. Comparable as a broad incumbent with hydrogen production and distribution scale that could compete for industrial off-takers and turnkey project work.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights8 records

Customer concentration

• LinkedInlinkedin.com/company/hydri

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 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 HYDRIE