Under the agreement, Hystar will combine its hydrogen production technology with McDermott’s expertise as a global engineering, procurement, and construction (EPC) provider.
While details on the plant are thin, the two companies aim to develop a full facility reference design which has been “optimised for scalability, flexibility, safety, and cost efficiency.”
In its statement, Hystar said the McDermott deal is designed to “offer customers an integrated, ready-to-deploy plant architecture that reduces technical risk, simplifies procurement and shortens time to market.”
Hystar CEO Fredrik Mowill explained, “Working with McDermott ensures that Hystar’s leading PEM technology can be scaled efficiently and deployed worldwide through a proven EPCI framework.”
The partnership follows Hystar’s $36m capital raise earlier this year to accelerate the scale-up of its PEM technology.
In May, climate investor Nysnø, Polish refiner Orlen VC, US venture capital arm of Mitsui OSK Lines, Stenshagen Invest, and electronics maker Kinetic Technologies made their first investments in the company.
Existing shareholders AP Ventures, Firda, Nippon Steel Trading, Finnidus, and Sintef Ventures also extended their investments.
Both announcements follow Hystar’s plans to bring a 1.5GW automated production line online in Høvik by 2027 and expand to 4.5GW by 2030, backed by a €26m ($28.m) EU Innovation Fund grant.
Game-changing electrolyser technology – An interview with Hystar
Fredrik Mowill’s entry to the electrolyser game with Hystar was one of not only savvy investment decision, but also out of passion. Having been at the helm of the Netherlands-based Opra Turbines alongside his family, he oversaw the development of a new, efficient, low-emission, multi-fuel turbine technology. With Opra carrying out extensive work within hydrogen, Mowill and his family sold the business in 2017, seeing him move back to his native Norway.
“I decided early on that my next business venture would be within the hydrogen space. So, I looked around both from an investment point of view, but also in terms of what I should spend my own time on in the future,” Mowill, CEO of Hystar said to H2 View.
Following a short break from the business world, Mowill joined the independent Norwegian research organisation, SINTEF, as an advisor to try and figure out if an exciting, new, and potentially game-changing electrolyser technology could be commercialised. It was during his time at SINTEF that Mowill met inventors of the technology, Alejandro Barnett and Magnus Thomassen, and co-founded what would become a trailblazer in modern electrolyser technology, Hystar.
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