Saga Pure Acquires Hyon and Partners with Nel and Norwegian Hydrogen

Source: www.gulfoilandgas.com 6/29/2021, Location: Europe

Saga Pure ASA announced the acquisition of Hyon AS (Hyon), and following a subsequent transaction, Saga Pure, Nel ASA and Norwegian Hydrogen AS will have equal shareholdings in the company. Hyon has a strong position within maritime hydrogen solutions and will mainly focus on developing hydrogen and bunkering solutions for harbors going forward.

“Sustainability is at the top of the agenda within the maritime sector, and hydrogen will play an important role in the future, maritime fuel mix. An entirely new value chain needs to be developed, and a key part of that is transferring hydrogen from the harbors to the vessels. Hyon is currently developing solutions for production and fueling of hydrogen ships and we look forward to be an active part of the further development of these solutions,” says Bjørn Simonsen, CEO of Saga Pure.

“There is a strong demand for green hydrogen in the near future, and we are developing a robust infrastructure for both heavy road transport and maritime sector. Joining a group of strong partners in bringing Hyon forward as a key solution- and technology provider makes a lot of sense to us,” says Jens Berge, CEO of Norwegian Hydrogen AS.

Saga, Nel and Norwegian Hydrogen will each have an ownership of 29% of Hyon, and key employees will hold the remaining shares. The key employees are Jørn Kristian Lindtvedt, appointed as CEO of the company, and Harald Hansen as Director of Project Development & Commercial. Lindtvedt and Hansen have previously held key positions in relation to the TechnipFMC led “Deep Purple” project, which focuses on solutions for offshore production of hydrogen and intermittency management of wind farms by storing the hydrogen subsea.

The company has built a strong position within hydrogen energy solutions for the maritime sector since 2017, and the main priority for Hyon going forward will be the further development and commercialization of the hydrogen and bunkering solution for harbors. The parties have decided not to disclose the value of the transaction.


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