Hyon completes NOK 50 million placement

Hyon AS has announced the successful completion of a private placement of NOK 50 million, valuing the company at NOK 130 million.

HYON has completed a private placement of 21,367,521 shares at NOK 2.34, raising gross proceeds of NOK 50 million. Based on the shares outstanding following the private placement and the offer price, the private placement values the company at around NOK 130 million. Hyon intends to have its shares shortly admitted to trading on Euronext Growth.

The net proceeds from the private placement will be used to fund growth and scale on investments made and strengthen the balance sheet for general corporate purposes.

HYON aims to deliver bunkering technology to the world’s first commercial-scale filling station for pressurized hydrogen for the maritime sector at the Hellesylt Hydrogen Hub.

Jørn Kristian Lindtvedt, CEO of HYON, said, “The placement and the 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.”

Bjørn Simonsen, CEO of Saga Pure, added, “We see them contributing to shaping the future of hydrogen in the maritime sector.”

Jon André Løkke, CEO of Nel, said, “Hyon is filling an important gap in the value chain critical in making hydrogen a success within maritime applications, both domestically in Norway and beyond.”

Hyon is the provider of zero-emission maritime hydrogen bunkering solutions, whose majority owners include Nel ASA, Norwegian Hydrogen AS and Saga Pure ASA.