Aker Horizons, a Norwegian climate-focused investment house, has launched a new platform company, Aker Clean Hydrogen, a pure-play industrial clean hydrogen producer. Aker claims that Aker Clean Hydrogen will become the most efficient hydrogen value chain integrator on a global scale.

“The hydrogen market is ready to take off and it is not waiting on a technology breakthrough to become viable,” says Karl Hersvik, chairman of Aker Energy. “The technology is there, it is waiting for someone to come along and put all the pieces together. This is where Aker comes in with our unique position. We have all the capabilities in-house to drive the production of clean hydrogen.”

According to Hersvik, Aker Clean Hydrogen will be employing best practices already tried and tested within the organisation. The company will be using alliances to flatten the learning curve as it tackles hydrogen, and Hersvik says Aker’s integrated business model will cover all aspects of the value chain.

“We have all the capabilities in-house to drive the production of clean hydrogen” Hersvik, Aker Energy

“Aker will develop, build and own hydrogen facilities all over the world,” he says. “We know from other industries that this kind of model has the highest potential for the highest rate of return in a growing market.

“I have been sceptical as to how the oil and gas model can be integrated into other industries. However, in the integrated approach of Aker Clean Hydrogen I see skill sets directly transferred from Aker BP. While the growth story of Aker BP is unprecedented in the oil business, I think Aker Clean Hydrogen will make Aker BP’s growth look disappointing.”

The company has a portfolio of nine clean hydrogen projects and prospects with a total net capacity of 1.3GW under development, and additional pipeline and opportunities of 4.7 GW. Based on a proven execution model with scalability, it aims to reach a net installed capacity of 5GW by 2030.

It also announced today a collaboration between Aker Clean Hydrogen and Mainstream Renewable Power, in which Aker is set to take a 75pc stake in Q2, to develop a global scale green value chain in Chile.

“Chile has access to some of the lowest-cost renewable energy resources in the world,” said Kristian Rokke, CEO of Aker Horizons. “The plan is to utilise Mainstream’s long-standing presence and portfolio of wind and solar projects in the country and combine it with Aker’s hydrogen capabilities, to produce low-cost hydrogen and green ammonia for the domestic market in Chile and for export.”

In order to finance investment opportunities for Aker Clean Hydrogen, Aker Horizons is in the process of preparing for a potential private placement in Aker Clean Hydrogen and a listing on Euronext Growth.

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Author: Che Golden