HydrogenPro acquires full ownership of manufacturing site in Tianjin, China
Norway, Nov. 27 -- HydrogenPro ASA has reached an agreement with Tianjin Miaoqing Machinery Equipment Co., Ltd. to acquire 25 per cent shares of HydrogenPro Tianjin, bringing HydrogenPro's ownership position from 75 per cent to 100 per cent.The consideration in the transaction consists of CNY 3 million in cash plus equipment valued at approx. CNY 1.8 million.After the original agreement signed in November 2021, where HydrogenPro acquired 75 per cent, the site has been through several upgrades with focus on quality improvement and advanced systems, increasing manufacturing capacity to approx. 500 MW p.a.The plant has, among others, manufactured electrolyzer systems for two of the world's largest green hydrogen projects. The completion of the...
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