Power company acquires stake in HYDS

Rogaland-based power company Dalane Energi is acquiring a 10 percent stake in Hydrogen Solutions AS (HYDS). The company is already owned by Sunnhordland kraftlag AS (SKL), in addition to a group of private investors.

“This is a major event for us. It gives HYDS strength and stability that another significant player from the power market enters the ownership side,” says Thor Henrik W. Hagen, CEO of the hydrogen company. 

HYDS develops, builds, owns and operates production facilities for green hydrogen. In May, the company opened its first production facility at Stord, with a capacity to produce 140 tons of hydrogen annually. This fall, they will open a new plant in Dalane Energi’s local area, Egersund. More plants are under development and construction.

“This acquisition is beneficial for several reasons. Firstly, it confirms that several strong and stable players believe in the green hydrogen market that we are helping to develop, and in our business model. In addition, it can give us better access to power in new locations,” says Hagen.

Thor Henrik Hagen, General Manager at HYDS
Stord Hydrogen

Dalane Energi consolidates hydrogen investment

“The market for green hydrogen is developing rapidly. It’s very exciting to follow, and fits in very well with our commitment to contribute to sustainable social development,” says Idar Sønstabø, CEO of Dalane Energi.

The company is already participating in an innovation project called ROBINSON, under the auspices of the EU’s Horizon 2020 program. As one of 18 partners from ten different countries, they are working to build a system for combining and integrating local energy sources, where hydrogen is one of the energy sources.

Through ROBINSON, Dalane Energi is involved in the production of green hydrogen in the company Dalane Hydrogen, which it owns together with Egersund næring og havn, and HYDS. This production facility will supply hydrogen to the project, while the excess will be sold commercially. The production facility is being built in Egersund by HYDS. When ROBINSON is completed, Dalane Hydrogen will take over ownership and production responsibility for the plant in Egersund.

“We already work well with HYDS through this project in our region and we also have other concrete plans for establishment in the region. With this acquisition, we confirm the good cooperation and add our further investment in hydrogen to HYDS. At the same time, we show that we want to participate in further growth in Norway and internationally in the future in an exciting industry,” says Sønstabø.

Idar Sønstabø, General Manager at Dalane Energi
Dalane Hydrogen

About HYDS:

Hydrogen Solution AS (HYDS) was established in 2021 and is a fast-growing Norwegian hydrogen company. HYDS develops, builds, owns and operates hydrogen plants, and its strategy is to produce green hydrogen and hydrogen derivatives through scalable and local plants. The first plant at Stord opened in May 2023. The second plant in Egersund will be ready in the fall of 2023. Read more about HYDS.

About Dalane Energi:

Dalane Energi AS is an energy group engaged in traditional hydropower production, electricity sales and owns the regional and local power grid in the four Dalane municipalities in Sør-Rogaland. The Group is also the largest owner of Altifiber, which provides fiber services in Sør-Rogaland and large parts of Agder. In recent years, the Group has been actively involved in business development and has also established itself as a player in the production of power from solar cells. Read more about Dalane Energi at https://dalane-energi-konsern.no/