January 21 (Renewables Now) - Hyon AS, a Norwegian provider of hydrogen bunkering for ships, today announced plans to list on Euronext Growth after successfully concluding a NOK 50 million (USD 5.6m/EUR 5m) private placement.
The company said in a statement that it has the intention to have its shares shortly admitted to trading on the particular bourse, but did not give further details. It said it meanwhile placed about 21.4 million shares at NOK 2.34 apiece and thus raised the aforementioned sum. The private placement values the firm at NOK 130 million.
Hyon plans to use the fresh funds to finance growth and beef up the balance sheet for general corporate purposes.
“The private placement was oversubscribed and attracted strong investor interest. The placement and potential listing will allow HYON to continue the growth and development to leverage on the leading position in the market for maritime hydrogen fueling solutions,” said CEO Jorn Kristian Lindtvedt.
Lindtvedt added that the firm will deliver bunkering technology to the world’s first commercial-scale filling station for pressurised hydrogen for the maritime sector. The project will take place at the Hellesylt Hydrogen Hub.
Following a couple of transactions last June, Hyon is now equally owned by Saga Pure ASA, Nel ASA and Norwegian Hydrogen AS.