HydrogenPro has raised NOK 70m ($6.2m) in equity from existing investors and has agreed on a deal to double this amount with Longi Green Energy Technology.
If the deal with Chinese electrolyser manufacturer Longi is successful, HydrogenPro could receive NOK 140m ($12.3m) which will be used for “general corporate purposes,” according to the company’s statement.
Existing shareholders Andritz and Mitsubishi Heavy Industries (MHI) purchased stock from HydrogenPro at NOK 5.50 ($0.49) apiece, with each investor subscribing to 6.35 million new shares of the electrolyser manufacturer. These new shares are anticipated to be concluded this month.
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