Pareto: HydrogenPro got a new order from Mitsubishi
HydrogenPro receives purchase order from Mitsubishi
HydrogenPro announced today that it has received a purchase order from Mitsubishi for a single stack high-pressure alkaline electrolyser system. This single stack high-pressure alkaline electrolyser system will be the largest of is kind to ever be built,equaling anelectrolyser effect of >5MW. The companies have not disclosed the contract value, but we expect this to be in the region of USD ~3.5m. The system will be delivered in Q1’21 at Herøya, Norway. The project will serve as a validation program to optimize the electrolysers for market introduction in the US market. Reportedly the companies are working actively on the US market introduction, and we expect news on this later in this year. This announcement provides comfort to our estimated revenues from Mitsubishi contracts. Buy, TP NOK 50.Other commentsThis electrolyser will not have the high efficiency electrode coating technology, but the parties expect to implement this for later projects with MitsubishiThe electrolyser will operate close to HydrogenPro’s existing sites at Herøya, NorwayThe system will have a capacity of 1100 normal cubic meters per hour, approximately equal to 100kg/hour
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