px Group has announced a strategic partnership with Hydrogen Solutions (HYDS), marking a significant collaboration between two key players in the renewable technologies sector. This partnership aims to accelerate the transition to a low-caribbean future, focusing initially on the Nordic region with plans to expand across Europe and beyond.
Geoff Holmes, CEO of px Group, highlighted the importance of this collaboration: “There is an urgent need for an integrated engineering and operating provider specializing in hydrogen and its derivatives in the Nordic region. We are eager to fulfill this role alongside HYDS, and we are exploring further opportunities for decarbonization partnerships throughout the region.”
The partnership is set to speed up the development of low-carbon renewable fuels and energy solutions. Thor-Henrik W. Hagen, CEO of HYDS, reflected on the successful cooperation between the companies over the past year and their shared emphasis on safety. “Our joint experience in developing, building, and operating hydrogen production plants has underscored the need to secure capacity for managing our projects and has opened potential for further developments both locally and internationally,” said Hagen.
Raymond Smebye, Business Development Director Scandinavia at px Group, added, “Our shared values of safety, focus on talent, and commitment to decarbonization forge a strong foundation for this partnership.”
px Group, known for managing strategic and critical energy infrastructure assets across the UK and Europe, including operations in Norway, Germany, and the Netherlands, recently increased its stake in the hydrogen sector by acquiring a majority share in Lifte H2, a German hydrogen engineering solutions company. HYDS operates notable hydrogen facilities like Stord Hydrogen and Kaupanes Hydrogen in Norway.
The partnership anticipates announcing concrete agreements soon, with the first Final Investment Decisions (FIDs) expected in the first half of 2025. This collaboration will utilize the strengths of both entities to optimize plant designs for future hydrogen production facilities, leveraging backing from Ara Partners for px Group and support from Dalane Energi AS, Sunnhordland Kraftlag AS, and various private investors for HYDS.
