Norwegian Hydrogen’s largest shareholder Hexagon Purus announced that Mitsui & Co will invests NOK 70 million in Norwegian Hydrogen. Through the private placement, Mitsui becomes the second largest owner in the company with a stake of around 15%. Norwegian Hydrogen will develop, build, and operate production facilities and infrastructure for green hydrogen. The company plans for strong growth, with several new projects and a substantial upscaling of their organization within the next few months. To this end, Norwegian Hydrogen intends to complete a larger capital raise within the next year and has engaged ABG Sundal Collier as an adviser. Norwegian Hydrogen was established in 2020. The company currently is building its first hydrogen factory in Hellesylt, Norway at the entrance to the world-famous Geirangerfjord. The Hellesylt Hydrogen Hub will produce hydrogen from the fourth quarter of 2023 onwards, and will, among other things, supply zero-emission fuel to ships sailing into the famous fjord. The company is developing a number of hydrogen projects in the Nordic region and will establish a network of filling stations in all the Nordic countries. Norwegian Hydrogen has entered into a cooperation agreement with Mitsui and FirstElement Fuel, which operates the world's largest network of hydrogen filling stations in California under the brand name True Zero.