Åsgårdstrand, Norway, 10 November 2026
GEN2 ENERGY SIGNS €62 MILLION EU HYDROGEN DEAL
Gen2 Energy has signed a grant agreement for approximately €62 million in EU support for its Nesbruket renewable hydrogen project in Mosjøen, Norway.
“The support from the European Union provides an important foundation for bringing our Nesbruket project towards realisation and supplying renewable hydrogen to customers seeking to decarbonise their operations,” said Camilla Nilsson, CEO of Gen2 Energy.
The agreement with the European Climate, Infrastructure and Environment Executive Agency (CINEA) follows the project’s selection for funding in May 2026 under the EU Innovation Fund’s 2025 Hydrogen Auction. It formalises the funding commitment and supports further project development, financing and commercialisation.
Nesbruket is being developed to combine renewable hydrogen production with liquefaction and distribution infrastructure, supplying maritime customers and other transport and industrial users.
The auction provides operational support linked to eligible renewable hydrogen production, helping to narrow the cost gap with conventional fuels. The project is being developed to meet the EU’s Renewable Fuels of Non-Biological Origin (RFNBO) requirements.
About Gen2 Energy
Gen2 Energy AS is a Norwegian company developing green hydrogen production
facilities based on access to renewable power and strategically located industrial sites. The company’s ambition is to develop green hydrogen production in Norway and supply domestic and European customers through efficient distribution partnerships. Gen2 Energy’s projects are located close to renewable hydropower, water resources andlogistics infrastructure, providing a foundation for reliable and competitive hydrogen production. The company has a strong focus on minimising the environmental footprint of both hydrogen production and distribution.
About the EU Innovation Fund
Financed through the EU Emissions Trading System, the Innovation Fund supports the demonstration and commercial deployment of innovative low-carbon technologies. The Hydrogen Auction mechanism provides operational support to accelerate renewable hydrogen production and market uptake.
Media contacts
Camilla Nilsson, CEO
+47 48 29 56 85 | camilla.nilsson@gen2energy.com
Jan Fredrik Råknes, CBDO
+47 992 67 730 | Jan.fredrik.raknes@gen2energy.com
