December 4, 2022

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Intercontinental Majors Invest 170 Million NOK in Norwegian Hydrogen Mem-Tech | Business enterprise

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TRONDHEIM, Norway–(Enterprise WIRE)–Could 10, 2022–

AP Ventures, Yara Expansion Ventures, Shell Ventures, Saudi Aramco Power Ventures and SINTEF Enterprise are placing their have faith in and investment decision into Hydrogen Mem-Tech (HMT). HMT´s palladium membrane technological know-how separates hydrogen from bio and pure gasoline.

“We are very pleased and incredibly humbled to have secured what will be one particular of the greatest money investments in an early-stage Norwegian tech enterprise in current years”, states Thomas Reinertsen, CEO of Hydrogen Mem-Tech.

The enterprise has formulated a technologies in which thoroughly clean hydrogen is developed from bio and purely natural fuel, even though CO2 and other residual gases are captured to be used or sequestered. The HMT palladium membrane technology builds on additional than 20 several years of analysis from SINTEF, and it has been thoroughly tested and piloted more than many a long time.

“We are very happy to have secured investors with a sturdy blend of industrial and monetary abilities. I´m specific that our new investors will aid deploy our engineering out into the entire world.” stated Thor Egil 5, Chairman of the board at Hydrogen Mem-Tech.

“We are delighted to have led the expenditure spherical for Hydrogen Mem-Tech with a strong group of co-buyers. As an established investor in the hydrogen value chain, we realize the thrilling possible of this technological innovation to unlock decarbonization opportunities throughout really hard to abate market and mobility.” claimed Andrew Hinkly, Managing Lover at AP Ventures.

Yara´s expense enterprise for start-ups, ‘Yara Growth Ventures’, are amid the new buyers.

“We believe that that this promising technologies created in Norway will contribute to bring about new Norwegian marketplace and aid maximize the use of hydrogen and ammonia. This is 1 of a number of investments we program to make in Norway”, says Stian Nygaard, Investment decision Director at Yara Advancement Ventures.

“As a corporation, we have an ambition to speed up the hydrogen financial state. HMT’s technologies enables the adoption of hydrogen and ammonia and fuels the progress culture requirements for a cleaner power upcoming. We are fired up to help them get the future techniques and take a look at the several prospective applications across industries”, reported Bilal Ahmad, Enterprise Principal at Shell Ventures.

“For Saudi Aramco Strength Ventures this expenditure into HMT is extremely strategic. Hydrogen and carbon capture systems are of the best great importance to Aramco, and we look ahead to performing with HMT to use their special gasoline separation membranes and realizing the added benefits they bring”, states Richard Riggs, Financial commitment Director at Saudi Aramco Electricity Ventures.

“We are quite content to be capable to lover with this remarkably revered and professional undertaking investor team to convey HMT just one action nearer to professional achievement. The engineering behind the technology is licensed from SINTEF and our expense in HMT supports our essential mandate – Technological know-how for a much better modern society, wherever we devote in firms with SINTEF based technological know-how.” claims Asle Jostein Hovda, Financial commitment Director at SINTEF Venture.

Read extra at: https://hydrogen-mem-tech.com/

Watch resource model on businesswire.com:https://www.businesswire.com/news/dwelling/20220510005726/en/

Speak to: Thomas Reinertsen, CEO

(+47) 930 90 494

[email protected]

Keyword: NORWAY EUROPE

Marketplace Search phrase: OIL/Gas Surroundings FINANCE Choice Electrical power Vitality Expert Expert services Know-how OTHER Technological know-how

Resource: Hydrogen Mem-Tech

Copyright Organization Wire 2022.

PUB: 05/10/2022 06:01 AM/DISC: 05/10/2022 06:02 AM

http://www.businesswire.com/information/dwelling/20220510005726/en

Copyright Business enterprise Wire 2022.

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