Hystar plans 4GW electrolyzer factory in Norway; plans to expand in North America

Norway-based energy equipment company, Hystar AS on Tuesday said it will deliver a fully automated 4GW electrolyzer factory in Høvik, Norway in 2025. The construction of the electrolyzer factory will commence in early 2024.

Hystar also said it is planning to establish a multi-GW factory in North America by 2027 and currently is in discussions with key stakeholders in both the United States and Canada to establish its first GW factory.

"Our Høvik GW factory demonstrates our commitment to rapidly expanding our European operations and meeting the strong demand for our technology across Europe," ," said Fredrik Mowill, CEO of Hystar.

"As we continue to scale up our operations, we are now looking at opportunities beyond Europe – the North American market has created a highly favourable environment for companies like ours to thrive in."

In the United States, lucrative hydrogen subsidies are made available through the Inflation Reduction Act, with plans being developed for 10 major hydrogen hubs. Further, Canada is making an investment tax credit available for clean hydrogen production.

Mowill added that both the US and Canada are offering attractive incentives, demonstrating a clear commitment to providing industry with certainty and financial support.

Currently, Hystar is scouting an ideal location for its factory in North America. The company's expansion into North America will serve as a major milestone in its journey of deploying green hydrogen at scale. Within a decade, Hystar expects its commercial operations in North America to exceed its European plans.