Norwegian hydrogen bunkering firm Hyon has teamed up with Japanese trading house Mitsui & Co setting the stage for what it said would be a large-scale development of hydrogen fueling solutions, starting with a joint feasibility study in the second half of this year.
The partnership is expected to venture into business opportunities related to establishing hydrogen fueling infrastructure in Europe, Asia, or any other geographies with potential hydrogen demand. The agreement also paves the way for Mitsui to make a financial and strategic investment in Hyon.
“With its vast network and global presence, Mitsui is an important strategic partner that will allow us to scale the business volume quickly and thereby provide highly competitive offerings to the market. This agreement is an important step towards making Hyon a leading global provider of hydrogen fueling solutions,” said Jørn K. Lindtvedt, CEO of Hyon.
Hyon was founded in 2017 with the aim to deliver fast and safe bunkering of hydrogen for ships. The company’s majority owners include Nel, Norwegian Hydrogen and Øystein Stray Spetalen’s Saga Pure. The Oslo-based company recently applied for soft funding from Norway’s Enova to develop a hydrogen hub for maritime transport in Nordland together with green hydrogen player Gen2 Energy and logistics and materials management company ASCO Norway.