{"id":2610,"date":"2022-04-04T09:52:24","date_gmt":"2022-04-04T08:52:24","guid":{"rendered":"http:\/\/esgfire.com\/uncategorized\/compleo-charging-solutions-ag-compleo-project-leap-in-sales-to-more-than-half-a-billion-euros-in-2025-2\/"},"modified":"2023-08-09T14:40:13","modified_gmt":"2023-08-09T13:40:13","slug":"mitsubishi-confirms-purchase-order-for-40-electrolyser-systems-worth-50-musd-from-hydrogenpro-with-esgfire-comment","status":"publish","type":"post","link":"https:\/\/esgfire.com\/en\/all-posts\/mitsubishi-confirms-purchase-order-for-40-electrolyser-systems-worth-50-musd-from-hydrogenpro-with-esgfire-comment\/","title":{"rendered":"Mitsubishi confirms Purchase Order for 40 electrolyser systems worth 50 MUSD from HydrogenPro with ESGFIRE comment"},"content":{"rendered":"<p><strong>Company<\/strong>: Hydrogenpro<br \/>\n<strong>Ticker:\u00a0<\/strong>HYPRO<br \/>\n<strong>Listings:\u00a0<\/strong>Norway<br \/>\n<strong>Industry:\u00a0<\/strong>Green Hydrogen and electrolyzer<br \/>\n<strong>Share price:<\/strong> 19 NOK at time of publication<br \/>\n<strong>Market cap:<\/strong>\u00a0 922 MNOK<br \/>\n<strong>Comparable peers:\u00a0<\/strong>Green hydrogen systems, Next hydrogen, Aker Clean hydrogen<\/p>\n<p><strong>ESGFIRE comment: We are deeply impressed to see that Hydrogenpro so soon after thier initial contract has managed to convert this into an actual purchasing order. This is the biggest ever contract for commercial electrolyzer . This reaffirms managements plans and boosts our confidence in this portfolio company.<br \/>\nWe look forward to seeing what the rest of 2022 holds for Hydrogenpro!<\/strong><\/p>\n<p>Press release in full below:<\/p>\n<p>&nbsp;<\/p>\n<p><strong>4th of April 2022.<\/strong>\u00a0\u2013 HydrogenPro AS (OSE: HYPRO) announced today that the purchase contract for an initial delivery of 40 electrolyser systems from Mitsubishi Power Americas, Inc. (Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI)) has been converted into a firm purchase order.<\/p>\n<p>The stock exchange notice dated 2 February 2022 announced the purchase contract for this order.<\/p>\n<p>A firm purchase order has now been entered into between the parties.<\/p>\n<p>The initial value of the contract exceeds USD 50 million for HydrogenPro\u2019s scope of delivery. The engineering, procurement and construction (EPC) and other system deliverables for a turn-key electrolyser green hydrogen production plant will be supplied by other companies.<\/p>\n<p>A nonrefundable commitment was made by Mitsubishi Power in February, enabling HydrogenPro to prepare for production.<\/p>\n<p>\u201cThis is one of the largest electrolyser system contracts ever, and it illustrates the accelerating green energy transition currently taking place in the United States. This presents tremendous market potential for the hydrogen industry, said Elling Nygaard, CEO of HydrogenPro.<\/p>\n<p><strong>For more information, please contact:<\/strong><br \/>\nElling Nygaard, CEO, +47 908 44 194, elling@hydrogen-pro.com<br \/>\nMartin T. Holtet, CFO, +47 92 24 49 02, martin@hydrogen-pro.com<\/p>\n<p><strong>About HydrogenPro:<\/strong><br \/>\nHydrogenPro designs and supplies customized hydrogen plants in cooperation with global partners and suppliers, all ISO 9001, ISO 45001 and ISO 14001 certified.<\/p>\n<p>The Company was founded in 2013 by individuals with background from the electrolysis industry which was established in Telemark, Norway by Norsk Hydro in 1927. We are an experienced engineering team of leading industry experts, drawing upon unparalleled experience and expertise in the hydrogen and renewable energy industry.<\/p>\n<p>Our core product is the alkaline high-pressure electrolyser. With the new electrode technology, we are able to increase the efficiency of each unit by 14% to reach 93% of the theoretical maximum. This is a significant step forward as the cost of electric power, depending on market prices, amounts to 70-90% of the cost of producing hydrogen, the value of such increased efficiency equals approximately the investment cost for the entire plant in a Total Cost of Operation perspective. The Company is targeting a production cost for green hydrogen of USD 1.2 per kg in 2022.<\/p>\n<p>This information is subject to the disclosure requirements pursuant to the Market Abuse Regulation (MAR) Article 17 no. 1 and section 5-12 of the Norwegian Securities Trading Act.<\/p>\n<header class=\"marginBottom15px clearFix\"><\/header>\n<div class=\"\">\n<p>&nbsp;<\/p>\n<\/div>\n<p><strong>Legal Disclaimer<\/strong><\/p>\n<p><strong>We plan to subscribe for shares of this company personally<\/strong>\u00a0<strong>in the current private\u00a0<\/strong>p<strong>lacement.<\/strong><\/p>\n<p><strong>Investing in stocks is combined with certain risks and it is possible to lose your entire investment. Our posts are made for Educational purposes only and are not to be interpreted as tips , financial advice or recommendations of any kind to either buy or sell any stocks.<\/strong><\/p>\n<p>Companies may or may not be paying us for content posted on this blog.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Company: Hydrogenpro Ticker:\u00a0HYPRO Listings:\u00a0Norway Industry:\u00a0Green Hydrogen and electrolyzer Share price: 19 NOK at time of publication Market cap:\u00a0 922 MNOK Comparable peers:\u00a0Green hydrogen systems, Next hydrogen, Aker Clean hydrogen ESGFIRE comment: We are deeply impressed to see that Hydrogenpro so soon after thier initial contract has managed to convert this into an actual purchasing order. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2389,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[148,145,128],"tags":[],"class_list":["post-2610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-posts","category-hydrogen-pro","category-reports-news-interviews"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mitsubishi confirms Purchase Order for 40 electrolyser systems worth 50 MUSD from HydrogenPro with ESGFIRE comment - ESG Fire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/esgfire.com\/en\/all-posts\/mitsubishi-confirms-purchase-order-for-40-electrolyser-systems-worth-50-musd-from-hydrogenpro-with-esgfire-comment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mitsubishi confirms Purchase Order for 40 electrolyser systems worth 50 MUSD from HydrogenPro with ESGFIRE comment - ESG Fire\" \/>\n<meta property=\"og:description\" content=\"Company: Hydrogenpro Ticker:\u00a0HYPRO Listings:\u00a0Norway Industry:\u00a0Green Hydrogen and electrolyzer Share price: 19 NOK at time of publication Market cap:\u00a0 922 MNOK Comparable peers:\u00a0Green hydrogen systems, Next hydrogen, Aker Clean hydrogen ESGFIRE comment: We are deeply impressed to see that Hydrogenpro so soon after thier initial contract has managed to convert this into an actual purchasing order. 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