Norwegian aluminium producer Norsk Hydro ASA said this week it has entered into a memorandum of understanding with Danish green hydrogen infrastructure firm Everfuel A/S to develop a partnership for developing and delivering renewable hydrogen.
Per Hydro, the two companies aim to install and fuel hydrogen electrolyzers throughout Europe. The new firm would also aid switching from gas to renewable hydrogen at both Hydro’s plants on the continent and third-party buyers as well.
The agreement contemplates installing electrolysers adjacent to Hydro’s aluminium smelters, which would fuel operations at the potlines and supply the European transportation sector as well.
Arvid Moss, Executive Vice President for Energy in Hydro, said the project would have several benefits both within and outside the firm.
“We need to power the world on renewable energy, and renewable hydrogen is a way to bring green energy to industries and sectors that historically have been hard to decarbonize. Hydrogen use will enable more sustainable operations in Hydro, and through the partnership with Everfuel we will also be able to supply the growing green mobility market in Europe.”
The agreement is part of Hydro’s larger goal of cutting its greenhouse gas emissions by 30 percent by the end of the decade. At present, the two companies are operating between three and five projects in Norway and across Europe, some of which are independent of Everfuel.
Norsk Hydro, which was founded in 1905, financed by the Swedish Wallenberg family and French banks, began its life named Norsk hydro-elektrisk Kvælstofaktieselskab (literally, “Norwegian hydro-electric nitrogen limited”) by Sam Eyde. The Norwegian government owns approximately 40% of the company at the present time. Norsk Hydro is one of the largest aluminium companies in the world, with plants in Rjukan, Raufoss, Vennesla, Karmøy, Høyanger, Årdal, Sunndalsøra, and Holmestrand. Norsk also has several plants abroad, including in Germany and Brazil.