Knox Energy Solutions AS

M&A Activity • Jan 18, 2023

HYON AS - HYON signs LOI with Northern Xplorer for implementation of hydrogen fueling technology

HYON AS - HYON signs LOI with Northern Xplorer for implementation of hydrogen fueling technology

(Oslo, 18 January 2023) HYON AS, the supplier of high-capacity hydrogen fueling

systems for ships, has signed a Letter of Intent (LOI) with Northern Xplorer AS

for the implementation of HYON's hydrogen fueling technology.

HYON will implement its hydrogen fueling technology in Northern Xplorer's zero

-emission cruise vessel MM140, designed by Multi Maritime AS, provided that a

final investment decision is made by Northern Xplorer.

"This is an important step towards the implementation of hydrogen fueling

technology in an industry that needs to find emission-free fueling solutions.

Northern Xplorer is pioneering zero-emissions cruising, and we are excited about

the opportunity to contribute to the realization of their ambition", says Jørn

Lindtvedt, CEO of HYON.

In addition to the implementation of fueling technology, the LOI enables a

collaboration between the two companies, in which HYON will contribute to the

development of a safe and cost-efficient fueling procedure for Northern Xplorer.

"The collaboration with Northern Xplorer will allow us to gain valuable insights

into the specific needs of the cruise ship industry's entry into zero-emission

fueling, while also further developing our hydrogen fueling technology", says

Lindtvedt.

The LOI was signed on 18 January 2023 and is effective until the order is placed

or the LOI is terminated.

For further information, please contact:

Jørn Kristian Lindtvedt, CEO, +47 95 27 07 39 or

Jan Frode Andersen,    CFO  +47 98 22 81 15

About Hyon | https://hyon.energy/

HYON delivers high-capacity hydrogen fueling systems for ships. We enable

hydrogen to be transferred from shore to ships in a fast and safe manner. HYON

was founded in 2017, is headquartered in Drammen, Norway and is backed by owners

including Saga Pure, Norwegian Hydrogen and Nel. We're on a mission to

accelerate the energy transition in the maritime sector, aiming to be the

leading provider of high-capacity hydrogen fueling solutions for ships.

About Northern Xplorer | https://northernxplorer.com/

Northern Xplorer will offer a first-class, sustainable cruise experience

exploring the smaller, hidden gems of Northern Europe. Their Vision is to

"Discovering the world with the least possible footprint while creating

sustainable economies."