Gen2 Energy will use hydroelectric power
HydrogenOne backs Norwegian green hydrogen developer
London-listed fund takes minority stake in Gen2 Energy in its first investment in green hydrogen production
London-listed listed investment fund HydrogenOne Capital Growth has bought a minority stake in Gen2 Energy, a Norwegian developer of green hydrogen production capacity, for £3.3mn ($4mn). The investment, which is subject to approval by Gen2’s existing shareholders, forms part of a funding round through which Gen2 expects to raise at least NOK140m ($16mn). The deal marks HydrogenOne’s first investment in green hydrogen production since its launch via a £107mn ($143mn) IPO in London in July last year. 700MW – Gen2 Energy’s project pipeline Gen2 is developing several green hydrogen projects in Norway based on the country’s excess supply of hydroelectric power. The company says it has a total
Also in this section
30 May 2025
Pressure is growing on developers to prove the bankability of their projects in a challenging market for green hydrogen
23 May 2025
Investors remain committed to development but are waiting on greater international market certainty
22 May 2025
The government has ambitions to scale up production and become a major exporter by the end of the decade
21 May 2025
Half of winning bidders are based in southern European country as €1b auction clears at lower-than-expected levels
