MHI Group invests in HydrogenPro

Mitsubishi Heavy Industries, Ltd. (MHI) has made a financial investment in HydrogenPro AS of Norway, a company engaged in the development and manufacture of electrolyzers, devices that produce hydrogen by the process of water electrolysis. MHI subscribed to newly issued shares placed by HydrogenPro in an initial public offering (IPO) undertaken to fund the expansion of its business operations.

HydrogenPro was established in 2013 based in the Norwegian city of Porsgrunn, Telemark County. The company has already developed a 9 megawatt (MW) class hydrogen production system (production capacity: 4.4 tons/day) adopting water electrolysis technology incorporating pressurized cells with an alkaline electrolyte. Plans are now underway toward achieving a 100 MW class plant (capacity: 48 tons/day).