Norwegian hydrogen bunkering firm Hyon, whose majority owners include Nel, Norwegian Hydrogen and Øystein Stray Spetalen’s Saga Pure, plans to have its shares admitted to trading on Euronext Growth after successful completion of a private placement.
The private placement of around 21.4m shares was completed at a price of NOK2.34 ($0.27) per share raising gross proceeds of NOK50m ($5.65m), valuing the company at NOK130m ($14.7m).
Hyon said in Oslo Exchange filing on Friday it will use the net proceeds to fund growth and scale on investments made and to strengthen the balance sheet for general corporate purposes.
“The private placement was oversubscribed and attracted strong investor interest. The placement and potential listing will allow Hyon to continue the growth and development to leverage on the leading position in the market for maritime hydrogen fueling solutions. We will deliver bunkering technology to the world’s first commercial-scale filling station for pressurised hydrogen for the maritime sector at the Hellesylt Hydrogen Hub, showcasing our solutions to the numerous maritime hydrogen projects set to commence construction over the next years,” said Jørn Kristian Lindtvedt, CEO of Hyon.
“With the company’s focus on developing leading hydrogen bunkering technologies, a strong team and exciting projects in the pipeline, we see them contributing to shaping the future of hydrogen in the maritime sector,” added Bjørn Simonsen, CEO of Saga Pure and member of the board of directors of Hyon.