International Majors Invest 170 Million NOK in Norwegian Hydrogen Mem-Tech
10.5.2022 13:01:00 EEST | Business Wire | Press release
AP Ventures, Yara Growth Ventures, Shell Ventures, Saudi Aramco Energy Ventures and SINTEF Venture are putting their trust and investment into Hydrogen Mem-Tech (HMT). HMT´s palladium membrane technology separates hydrogen from bio and natural gas.
"We are proud and incredibly humbled to have secured what will be one of the largest capital investments in an early-stage Norwegian tech company in recent years”, says Thomas Reinertsen, CEO of Hydrogen Mem-Tech.
The company has developed a technology where clean hydrogen is produced from bio and natural gas, while CO2 and other residual gases are captured to be utilized or sequestered. The HMT palladium membrane technology builds on more than 20 years of research from SINTEF, and it has been extensively tested and piloted over several years.
“We are very pleased to have secured investors with a strong mix of industrial and financial expertise. I´m certain that our new investors will help deploy our technology out into the world.” said Thor Egil Five, Chairman of the board at Hydrogen Mem-Tech.
“We are delighted to have led the investment round for Hydrogen Mem-Tech with a strong group of co-investors. As an established investor in the hydrogen value chain, we understand the exciting potential of this technology to unlock decarbonization opportunities across hard to abate industry and mobility.” said Andrew Hinkly, Managing Partner at AP Ventures.
Yara´s investment company for start-ups, ‘Yara Growth Ventures’, are among the new investors.
“We believe that this promising technology developed in Norway will contribute to trigger new Norwegian industry and help increase the use of hydrogen and ammonia. This is one of several investments we plan to make in Norway”, says Stian Nygaard, Investment Director at Yara Growth Ventures.
“As a company, we have an ambition to accelerate the hydrogen economy. HMT’s technology enables the adoption of hydrogen and ammonia and fuels the progress society needs for a cleaner energy future. We are excited to help them take the next steps and explore the many potential applications across industries”, said Bilal Ahmad, Venture Principal at Shell Ventures.
“For Saudi Aramco Energy Ventures this investment into HMT is very strategic. Hydrogen and carbon capture technologies are of the highest importance to Aramco, and we look forward to working with HMT to use their unique gas separation membranes and realizing the benefits they bring”, says Richard Riggs, Investment Director at Saudi Aramco Energy Ventures.
“We are very happy to be able to partner with this highly respected and professional venture investor group to bring HMT one step closer to commercial success. The technology behind the technology is licensed from SINTEF and our investment in HMT supports our key mandate - Technology for a better society, where we invest in companies with SINTEF based technology.” says Asle Jostein Hovda, Investment Director at SINTEF Venture.
Read more at: https://hydrogen-mem-tech.com/
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220510005726/en/
Contact information
Thomas Reinertsen, CEO
(+47) 930 90 494
thomas.reinertsen@hydrogen-mem-tech.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
KiddeFenwal Launches New Website and Information Hub8.7.2026 19:00:00 EEST | Press release
KiddeFenwal, the global leader in the fire suppression and safety controls industry, today unveiled a revitalized website, designed to serve as a comprehensive information hub for fire industry practitioners and customers alike. The modernized platform includes features created specifically with the company’s global partners, OEMs and distributors in mind, including: Accelerated asset navigation, pointing users to critical safety documentation, design parameters and product specifications; Seamless solution mapping, helping users quickly locate fire suppression configurations by industry, from data centers to BESS applications to commercial kitchens; and Enhanced resource access, including streamlined pathways to connect with the company’s elite distributor network across 120 countries. It also provides information about the company’s three brands, Kidde Fire Systems, Kidde Fire Protection and Fenwal Controls, replacing other sites serving customers in Europe and India. The launch of t
Red Sea Global Strengthens AMAALA's Wellness Offering With Opening of Six Senses AMAALA8.7.2026 18:22:00 EEST | Press release
Red Sea Global (RSG), the regenerative tourism developer, has announced the opening of beachfront resort Six Senses AMAALA, which will welcome its first guests mid-July. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260708505794/en/ An aerial view of Six Senses AMAALA and its surrounding shoreline at Triple Bay The launch represents an exciting next step in the AMAALA destination’s journey, as it continues to come to life and welcome guests to enjoy unrivaled wellness experiences set against a backdrop of soaring coastal cliffs, protected bays, pristine beaches, and mountainous desert. "Every partner we bring into our portfolio is selected because they share our long-term vision of luxury travel with regeneration for people and planet at its center. Six Senses has built a global reputation for wellness experiences rooted in nature, sustainability, and local culture, making it a natural fit for AMAALA. As the second Six Sens
Rigaku Opens "Rigaku Solutions Center Osaka" to Strengthen Global Semiconductor Metrology Service Capabilities8.7.2026 18:00:00 EEST | Press release
Rigaku Corporation, a global solution partner in X-ray analytical systems and a group company of Rigaku Holdings Corporation (headquarters: Akishima, Tokyo; CEO: Jun Kawakami; “Rigaku”), has opened the Rigaku Solutions Center Osaka (RSC-Osaka) at its Osaka Plant. The new facility centralizes and expands practical training for field service engineers supporting semiconductor metrology systems, strengthening Rigaku's global service capabilities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260708402770/en/ Photo: Hands-on training using the TXRF-V310 at RSC-Osaka As semiconductor manufacturing processes continue to advance toward finer geometries, higher layer counts, and more complex three-dimensional structures, semiconductor metrology systems require ever greater precision and operational stability. X-ray analytical technologies play an increasingly important role in meeting these demands through highly accurate, non-dest
Dryad Networks Reaches XPRIZE Wildfire Finals Milestone, Demonstrating Autonomous Detection and Suppression of Wildfires in Alaska8.7.2026 18:00:00 EEST | Press release
Dryad Networks, the leader in ultra-early wildfire detection technology, today announced a major achievement in the finals of the Autonomous Wildfire Response track of XPRIZE Wildfire, a four-year, $11 million global competition accelerating new solutions to end destructive wildfires. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260707802818/en/ The Silvaguard Suppression Drone can deliver a 100 liter liquid suppressant to autonomously suppress small wildfires detected by Silvanet Competing against just two other finalists selected from an original field of nearly 300 teams worldwide, Dryad successfully demonstrated the integrated capabilities of its Silvanet wildfire detection network and Silvaguard autonomous firefighting drone system during final testing in remote Alaska. The XPRIZE Wildfire finals challenged teams to autonomously detect and suppress a wildfire without any human intervention across a vast 1,000 square k
Cardiac Dimensions ® Announces Three Major Publications Demonstrating Long-Term Durability, Real-World Performance, and Broad Patient Benefit of the Carillon Mitral Contour System ®8.7.2026 17:05:00 EEST | Press release
Cardiac Dimensions, a leader in transcatheter therapies for heart failure, today announced the publication of three major manuscripts that together form the most comprehensive evidence base ever assembled for transcatheter indirect mitral annuloplasty. These publications span a five-year multi-center commercial registry, the largest single-center experience across both preserved and reduced ejection fraction, and long-term survival results through ten years. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260707656796/en/ Carillon Mitral Contour System® The Carillon Mitral Contour System is the only commercially available indirect mitral annuloplasty device, designed to treat a broad and expanding population of patients living with functional mitral regurgitation. The newly published data further strengthen the clinical foundation for the therapy as Cardiac Dimensions advances toward regulatory submissions in the United State
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom