Establishment of the US subsidiary is an important step in the company’s North American expansion and was a primary use of proceeds from the March 2023 rights issue. With the subsidiary in place, Impact Coatings strengthens its presence in the region as a whole, getting closer to current and potential customers, facilitating regulatory and contractual processes, and increasing overall awareness.

Over the last couple of years, the USA has emerged as a leader within green hydrogen. Hydrogen from renewable energy plays decisive roles in the Inflation Reduction Act that became federal law in 2022, the Energy Earth Shot initiatives from the US Department of Energy, and the June 6 announcement of a new National Clean Hydrogen Strategy and Roadmap from the Biden administration. These and other initiatives create the conditions for Impact Coatings to strengthen its position in the North American market.

“The green hydrogen revolution is underway – with the USA leading the way. Over the last few years, government incentives have come into place, laying a foundation for the hydrogen industry landscape in North America. Major players in the field are forecasting significant volumes of green hydrogen production,” said Robert Mamazza, Regional President North America.

“We continue our progress in the North American market, which is a main focus of our strategic agenda. With the subsidiary in place, we are better positioned to grasp emerging opportunities in the region, building on the momentum from recent orders. It is also an important step toward the establishment of the new Coatings Service Center, ready for operation during 2024,” said Torbjörn Sandberg Kanon, CEO of Impact Coatings.