18.12.2025 | News
The EUR 7 million financing from Nefco will help Norwegian Hydrogen AS deliver renewable hydrogen solutions in hard-to-abate sectors, supporting the transition to clean energy.
Nefco has signed a loan agreement with Norwegian Hydrogen AS to accelerate the expansion of green hydrogen production across the Nordic region. Norwegian Hydrogen uses renewable electricity, primarily hydropower and wind, to produce green hydrogen. The loan will support the introduction of renewable hydrogen solutions in hard-to-abate industries, such as those in the heavy transport, maritime and industrial sectors, cutting CO₂ emissions and advancing the shift to a low-carbon economy.
The Nefco loan is part of a financing package that includes equity contributions from shareholders. With financing from Nefco, Norwegian Hydrogen can speed up its hydrogen production investments.
“Nefco’s support will be instrumental in scaling up our operations and delivering green hydrogen where it’s needed most. Together, we are enabling zero-emission solutions for industries and communities across the Nordics,” says Jens Berge, CEO of Norwegian Hydrogen.
Green hydrogen produced with renewable energy will help address the challenge of decarbonisation for cases in which electrification is not feasible, such as in the heavy industry, maritime and long-distance transport sectors. Norwegian Hydrogen aims to maximise resource efficiency by using by-products like oxygen and excess heat and operates under robust environmental and social governance standards.
“Nefco’s investment is based on Norwegian Hydrogen’s proven climate impact. The company delivers scalable solutions that cut emissions in sectors that are difficult to decarbonise. This partnership shows how targeted financing can accelerate the shift to clean energy,” says Anne Mette Guerrero, Nefco’s Investment Adviser.
The Nefco loan will help Norwegian Hydrogen AS advance key projects that will strengthen Nordic hydrogen infrastructure and attract further private and public investment in the sector. Part of the funding will go towards development of the Rjukan liquid hydrogen project; the project was recently offered EUR 31.5 million funding from the EU Innovation Fund, EUR 13.2 million from the EU Hydrogen Bank and NOK 100 million from Innovation Norway.
Projects funded by Nefco align with Nordic climate goals and EU sustainability targets, supporting the broader transition to a green economy. Current and upcoming projects are expected to prevent the generation of more than 40,000 tonnes of CO₂ annually, with increased benefits as new facilities come online.
For more information, please contact:
Anne Mette Guerrero, Investment Adviser, Nefco
annemette.guerrero@nefco.int, +47 928 91 952
Anni Rein, Senior Communications Manager, Nefco
anni.rein@nefco.int, +358 40 7504740
Jens Berge, CEO, Norwegian Hydrogen AS
jens.berge@nh2.no, +47 905 51 355
About Norwegian Hydrogen
Norwegian Hydrogen AS is developing a comprehensive network of green hydrogen production sites and distribution systems in the Nordics. These are designed to meet future zero-emission energy demands across several industries. The company is headquartered in Ålesund, Norway, and has offices in Oslo, Stockholm and Hirtshals.