Hyon has set out plans to accelerate the energy transition in the maritime sector by delivering fast and safe bunkering of hydrogen for ships.
Recently, the company formed a collaboration with trading and investment company Mitsui & Co for the large-scale development of hydrogen fueling solutions, which will begin with the pair conducting a feasibility study in the second half of 2022.
The study will define relevant parameters for the global presence of hydrogen fueling solutions, in addition to a rollout plan and the cost and specification of the technical solutions. It is expected last for three to six months.
Hyon and Mitsui & Co will explore business opportunities related to the establishment of hydrogen fueling infrastructure in Europe, Asia and other parts of the world, based on hydrogen demand. Under the agreement, Mitsui will also provide financial and strategic support to Hyon.
“With its vast network and global presence, Mitsui is an important strategic partner that will allow us to scale the business volume quickly and thereby provide highly competitive offerings to the market,” said Jørn Lindtvedt, CEO of Hyon. “This agreement is an important step toward making Hyon a leading global provider of hydrogen fueling solutions.”
“The hydrogen market is expected to grow significantly within the shipping industry, accelerated by stringent regulations, guidelines and initiatives for GHG emission reductions,” commented Kensuke Kubota, general manager of the transportation and machinery business division at Mitsui. “By combining Mitsui’s track record and global network in the shipping industry with Hyon’s expertise in hydrogen solutions, we aim to capture this growth and penetrate new markets.”