Knox Energy Solutions AS

Regulatory Filings • Apr 28, 2022

HYON partners with Gen2 Energy and ASCO to establish Green Arctic HyHub

HYON partners with Gen2 Energy and ASCO to establish Green Arctic HyHub

(Oslo, 28 April 2022) - HYON AS (HYON) has together with Gen2 Energy AS and ASCO

Norway applied for soft funding from Enova for a hydrogen hub for maritime

transport in Nordland to be named the Green Artic HyHub. The hydrogen hub will

include large scale production of compressed hydrogen in Mosjøen and bunkering

sites for maritime transport in Sandnessjøen and Mosjøen.

With the ambition to reduce emissions of the Norwegian maritime sector, HYON has

partnered with Gen2 Energy and ASCO in a project to produce cost-competitive

compressed green hydrogen at large scale, making it available to fuel several

types of vessels in Nordland. A bunkering network from Mosjøen and Sandnessjøen

ports will be set up providing cost-competitive fueling of hydrogen to maritime

customers or to swap containers onboard vessels.

"This project has the needed scale to deliver hydrogen at competitive prices in

the maritime sector, and by that to accelerate the transition from fossil fuel

to zero emission shipping. We are proud to partner with G2E and ASCO to realize

this project, which will have high local and global impact", says Jørn Kristian

Lindtvedt, CEO of HYON.

Sandnessjøen is an optimal site for establishing a maritime hydrogen hub because

of its strategic location, the number of port calls per year by a variety of

vessel types and the available infrastructure for maritime transport.

G2E will establish a compressed hydrogen production plant at the industrial site

of Nesbruket in Vefsn municipality to produce 15,250 metric tonnes/year (mt/y)

green hydrogen and together with suppliers develop 20/40 feet containers that

can hold hydrogen at 350 bars specially designed for fueling or swapping

purposes within the maritime sector.

Fast fueling is key for maritime applications as the fuel tanks are large and

the allowed time for bunkering is short. HYON is specialized in delivering fast

and safe fueling solutions for hydrogen to ships, providing the missing piece in

the hydrogen value chain. HYON will develop a fueling solution for large vessels

enabling to refill fuel tanks with 1000 kg hydrogen in 30 minutes, much faster

than current solutions (<80 kg in 30 min) which only exist for onshore transport

(i.e. trucks and vehicles).

ASCO provides a comprehensive package of Supply Base Services to the energy

industries and operates an established network of own bases (including

Sandnessjøen) and joint ventures along the entire Norwegian coast. ASCO will

lead the establishment of processes and infrastructure, including cranes, quays

and warehouses, for safe storage and swapping of containers.

There is a strong desire to start utilizing the fueling stations for green

hydrogen once in operation, proven by eight signed Letters of Intent from

maritime users. In addition, several Letters of Intent have been signed related

to onshore applications with different local and regional companies within

transport and industry.

"The strong combination of maritime and onshore users of hydrogen will increase

utilization of equipment, reduce cost for end-users and result in a high amount

of produced hydrogen per supported capita received", says CEO Jonas Meyer in

Gen2 Energy.

For further information, please contact:

Jørn Kristian Lindtvedt, CEO, + 47 9527 0739 or

Jan Frode Andersen, CFO + 47 9822 8115

About Hyon | https://hyon.energy/

Hyon AS delivers fast and safe bunkering of hydrogen for ships. We make sure

that hydrogen can be transferred from shore to ships, both as a stand-alone

fueling solution and as an integrated solution combining production, storage and

distribution on a barge.

HYON was founded in 2017, is headquartered in Oslo, Norway and is backed by

owners including Saga Pure, Norwegian Hydrogen and Nel.

HYON is on a mission to accelerate the energy transition in the maritime sector,

aiming to be the leading provider to bunkering solutions for hydrogen.