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
Saudi Fund for Development Announces Progress on Pristina–Mitrovica Highway Project in Kosovo13.10.2026 16:36:00 EEST | Press release
The Saudi Fund for Development (SFD) today joined the Government of Kosovo to inaugurate the Pristina–Mitrovica Highway, marking SFD’s first completed project in Kosovo and an important milestone in the partnership between both sides. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261013433726/en/ SFD CEO and Kosovar's minsters sideline meeting (Photo: AETOSWire) His Excellency Sultan bin Abdulrahman Al-Marshad, Chief Executive Officer of the Saudi Fund for Development, inaugurated the upgraded highway section by cutting the ribbon at the newly completed road. He subsequently held a sideline meetings with His Excellency Hekuran Murati, Minister of Finance, His Excellency Dimal Basha Minister of Infrastructure and Transport, and His Excellency Arben Vitia, Minister of Health, to discuss the development projects and the continued SFD- Kosovo partnership. The project upgrades a 9.87 km section of the Prishtina–Mitrovica Highway
KAST Selects Kiln’s Claire Wells as Chief Legal Officer13.10.2026 16:30:00 EEST | Press release
KAST, the global money app, announced today that Claire Wells has joined the company as Chief Legal Officer. Wells will lead KAST’s global legal operations, and the company’s compliance, regulatory, fundraising and licensing initiatives are under her remit. Wells is a proven legal and compliance leader with deep experience building and scaling legal, regulatory and policy functions across fintech, payments and digital assets. She has navigated complex, multi-jurisdictional environments, all while delivering growth. “I’m thrilled that Claire has joined the KAST team as our new Chief Legal Officer,” said KAST Founder & CEO Raagulan Pathy. “Claire is joining us at a truly pivotal time for the company as we enter our next phase of growth. We are continuing to expand our product set rapidly, and her strategic leadership will be instrumental in scaling our operations into a truly global powerhouse.” This is a significant hire for KAST. To meet fast-growing global demand, the company now has
Ohana Development Announces Erling Haaland as a Proud Homeowner at Manchester City Yas Residences by Ohana, During Phase 2 Launch13.10.2026 16:00:00 EEST | Press release
Ohana Development has announced Erling Haaland as a proud homeowner at Manchester City Yas Residences by Ohana during the launch of the project’s second phase. Featuring two- and three-bedroom townhouses, duplex villas, and four- and five-bedroom villas, Phase 2 sales will commence on 19 October 2026. The event at Etihad Arena welcomed over 4,000 guests, including Pep Guardiola, who was announced as the project’s official brand ambassador. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261013790618/en/ Manchester City Yas Residences by Ohana Launches Phase 2 (Photo: AETOSWire) Located along Yas Canal, adjacent to Yas Island, the development spans 1.67 million square metres and will feature more than 2,000 residences. The world’s first Manchester City-branded residential community has already broken ground, with phased delivery scheduled by 2029. In a video appearance by Manchester City star Erling Haaland, he announced that
Tigo Energy Enables over 11MW of Repowering as Legacy Solar Service Market Grows13.10.2026 16:00:00 EEST | Press release
Tigo Energy, Inc. (NASDAQ: TYGO) (“Tigo” or “Company”), a leading provider of intelligent solar and energy software solutions, today announced that Tigo technology has helped enable over 11MW of solar repowering projects as demand grows for upgrades, replacement components, and services across the installed base of aging residential solar systems. To help installers capture this opportunity, Tigo is also introducing a practical repowering playbook and installer resources designed to support both business development and the technical execution of legacy-system upgrades through repowering. The Tigo Repowering Business Playbook gives installers a step-by-step framework for building a repowering business across four stages: Discover, Build, Sell, and Grow. The guide addresses how to evaluate the market opportunity, create repeatable service offerings, identify and qualify customers, package services around homeowner needs, launch a repowering program, and develop ongoing service and upgra
Xsolla Announces Direct Co-Marketing Campaigns Between Payment Providers and Video Game Developers13.10.2026 16:00:00 EEST | Press release
Xsolla, a global commerce company, today unveiled plans for Co-Marketing Campaigns, an upcoming self-serve tool in Xsolla Business Account for Payment Providers that lets payment providers initiate and manage marketing campaigns directly with video game developers. Xsolla will preview it at Money20/20 USA in Las Vegas, October 18 - 21, 2026, in meeting room Veronese 2505. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261013246989/en/ Graphic: Xsolla Video games drive major consumer spending, but payment providers that process many of those payments have had limited ways to participate in the marketing and engagement opportunities that follow. With access to more than 1,500 video game developers and their players, Xsolla will help payment providers turn payment insights into direct marketing partnerships through Co-Marketing Campaigns. Available directly within Xsolla Business Account for Payment Providers, the new capabilit
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