Nefco finances Norweigan Hydrogen

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,” said 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,” commented 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 €31.5 million funding from the EU Innovation Fund, €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 tpy of CO₂, with increased benefits as new facilities come online.

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/19122025/nefco-finances-norweigan-hydrogen/