Hy2gen Nordic AS, founded in 2019 and based in Stavanger, Norway, is a subsidiary of Hy2gen AG. The company develops, invests in, finances, builds, and operates projects for renewable hydrogen production and its derivatives, such as ammonia and e-fuels, across the Nordic region including Norway, Sweden, Finland, Iceland, and Denmark.
Leveraging abundant renewable energy sources like hydropower, wind, bioenergy, and geothermal, Hy2gen Nordic targets decarbonization of high-emission sectors, particularly maritime and industry, supplying to Nordic and Northern European markets.
Key projects include the Albatros initiative in Norway and the ALBA project in Denmark, a 100 MW electrolyser facility selected in the European Commission's third Hydrogen Bank auction. ALBA is expected to produce over 144,000 tonnes of renewable hydrogen in its first 10 years, supported by approximately €140 million in funding at €0.97/kg.
Selected projects across seven EEA countries will add ~1.1 GW electrolyser capacity, produce >1.3 Mt H2 over 10 years, avoid ~9 Mt CO2e; premiums €0.57–€3.49/kg; Spain/Germany add €1.7bn
