Green Hydrogen adds capital investment from Nordic Alpha Partners

Denmark Investments 30 August 2019
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GreenHydrogen, a Kolding, Denmark-based provider of advanced electrolysers and hydrogen solutions for renewable energy applications and on-site industry use, announced getting into an investment agreement with getting Nordic Alpha Partners as shareholders in the company.

The deal, which has financial details undisclosed, was made for a 38% equity stake. The plan is for GreenHydrogen to act quickly to supplement its management team, bring in additional specialists and establish a new production unit with the capacity to produce more electrolysers faster and less costly than today.

GreenHydrogen, founded in 2007 and led by CEO Niels-Arne Baden, currently employs 12 people and provides advanced electrolysers and hydrogen solutions for renewable energy applications and industry use in cooperation with technology- and industry partners. The company's plants currently have a capacity that can keep 36 hydrogen buses running in full daily operation for one year.

Over the past 12 years, the company has invested more than DKK 100 million in the business, a large part of which was supplied by shareholders who include the energy company Norlys (formerly Eniig), Borean Innovation and Nortec Optomatic – one of the original founders. In addition, the enterprise has received subsidy for development projects from, for example, Innovation Fund Denmark and the EUDP, as well as a loan from the Danish Green Investment Fund which helped finance the first phase of the commercialisation of the GreenHydrogen electrolyser.