Saga Pure ASA: Acquires Hyon and partners with Nel and Norwegian Hydrogen
(Oslo, 29 June 2021) Saga Pure ASA (Saga, OSE: SAGA) today 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.
ENDS
For additional information, please contact:
Bjørn Simonsen, CEO, +47 971 79 821
Espen Lundaas, CFO, +47 924 31 417
About Saga Pure ASA | www.sagapure.com
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