Gen2 Energy, based in Mosjøen, has been awarded NOK 719.1 million (EUR 61.6 million) from the EU Innovation Fund. The funding supports the company’s efforts to produce green hydrogen specifically for the maritime sector, and marks a breakthrough for value creation and emission reductions in Norwegian shipping.
The grant comes through the EU’s Hydrogen Bank auction and aims to accelerate the deployment of zero-emission solutions in the transport sector. Gen2 Energy is the only company in Norway with a concrete plan for large-scale production of liquefied hydrogen – and the first to move forward with full-scale implementation.
“This is a strong endorsement from the EU that Gen2 Energy is in the lead. We are now ready to deliver meaningful volumes of hydrogen to a maritime industry that is in urgent need of zero-emission fuel. Norway has the best prerequisites – and we are ready,” says Kjetil Bøhn, CEO of Gen2 Energy.
Ready to serve Norwegian shipping
The award gives Gen2 Energy critical momentum heading into its planned final investment decision in Q4. It enables the company to focus on completing the Mosjøen project and ensuring hydrogen deliveries to customers in Norway.
“The Norwegian maritime sector has the technology, the competence, and the will. What’s been missing is access to green fuel at an industrial scale. That’s what we’re now providing. This isn’t just about producing hydrogen – it’s about building an entirely new value chain in Norway,” Bøhn says.
A growing domestic market
The market for green hydrogen in maritime shipping has long been characterized by caution and uncertainty, but things are now picking up speed.
“It’s only now, with the regulatory framework in place, that we’re seeing real growth in demand – and we’ve been preparing for this for years. The era of pilot projects is over – it’s time to deliver. That’s why this grant is so crucial. It allows us to give both customers and investors the confidence they need,” says Bøhn.
Gen2 Energy remains the only Norwegian company with a concrete and mature project for large-scale production of liquefied hydrogen. Once operational, the facility will be able to meet demand from several maritime players.
Three Norwegian winners – and one shared advantage
Gen2 Energy congratulates Norwegian Hydrogen (NOK 154.1 million for their project in Rjukan) and GreenH (NOK 255.7 million in Hammerfest) on their EU Innovation Fund awards. That three Norwegian players succeeded in a highly competitive European selection shows that Norway has what it takes: clean and stable renewable energy, world-class technical expertise, and strong industrial execution capabilities.
“Together we’re showing that Norway doesn’t just have ambitions – we deliver solutions. This is an important step in building a national zero-emission industry, and these awards provide a solid foundation for both domestic value creation and real emission reductions,” says Kjetil Bøhn.
All three projects are based on Norway’s unique access to green power – and will help develop a domestic market that can offer lasting competitive advantages, also on the international stage.
For more information contact:
Gen2 Energy:
Kjetil Bøhn, CEO. Tel. +47 915 73 818, kjetil.bohn@gen2energy.com
Jan Fredrik Råknes, Head of Business Development, Tel. +47 992 67 730, jan.fredrik.raknes@gen2energy.no
Gen2 Energy in brief:
Gen2 Energy is a Norwegian company dedicated to developing, build, own and operate an integrated value chain for green hydrogen. The company target to have several large-scale production facilities for green hydrogen located in Norway and Northern-Europe as well as a distribution network ensuring customers safe and reliable delivery. We also aim to use low/zero emission fuel in our distribution system, taking a wholistic view on the environmental footprint of the hydrogen value chain. For more information, visit www.gen2energy.com
