HydrogenPro AS – Share capital increase in connection with exercise of options registered with the Norwegian Register of Business Enterprises
2021-12-09 15:37:54
Porsgrunn, 9 December 2021 – Reference is made to the stock exchange notice by HydrogenPro AS ("HydrogenPro" or the "Company") published on 17 November 2021 regarding a share capital increase following the exercise of share options.
The issuance of 221,864 new shares has been registered with the Norwegian Register of Business Enterprises. Following registration, the share capital of HydrogenPro is NOK 58,028.171 divided into 58,028,171 shares each with a nominal value of NOK 0.001. Each share represents one vote in the Company's general meeting.
HydrogenPro in brief:
HydrogenPro designs and supplies customized hydrogen plants in cooperation with global partners and suppliers, all ISO 9001 certified.
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.
Our core product is the alkaline high-pressure electrolyser. With our 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.
This information is subject to the disclosure requirements pursuant to Section 5 -12 the Norwegian Securities Trading Act.