Wed Sep 18 06:52:00 UTC 2024: ## HydrogenPro Boasts Growth and Investment in Third Generation Technology
**ETPORSGRUNN, NORWAY -** HydrogenPro, a leading renewable hydrogen company, is experiencing rapid growth and has announced plans to invest in a new production line for its third-generation technology.
The company, which recently delivered on two major hydrogen projects in Germany and the USA, reported a prioritized pipeline estimated at $2.4 billion USD. CEO Jarle Dragvik expressed optimism about the long-term development of renewable hydrogen during a presentation at the Pareto Securities’ 31st annual Energy Conference.
The new 350 MW manufacturing facility will significantly increase production of the company’s groundbreaking third-generation electrolyzer, which offers greater efficiency compared to previous models. This investment will give HydrogenPro a competitive edge in the growing hydrogen market.
Since its initial public offering in 2020, HydrogenPro has transitioned from a distributor of high-pressure alkaline electrolyzers to a technology owner and original equipment manufacturer (OEM). The company achieved record revenue of over 500 MNOK last year, and its workforce has expanded by over 20 times.
“We have proven that our business model works,” said Dragvik. “It is flexible and scalable, and we have recurring revenues. We are also one of the very few producers that has actually produced, delivered, and tested our products and services on highly demanding clients and partners.”
The company’s success and investment in third-generation technology highlights the increasing demand for renewable hydrogen as a sustainable energy source.
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