Awarded to the company’s asset development arm focused on hydrogen projects, Aker Horizons Asset Development, the funding comes through Innovation Norway in the form of up to NOK 85m ($7.6m) in grants and up to NOK 50m ($4.5m) in green growth loans.
The Rjukan project is planned to produce around nine tonnes of green hydrogen per day from a 20MW electrolyser system.
With existing infrastructure, industrial land and available hydropower secured, Aker plans to make a final investment decision (FID) before the end of 2023 with the intention of commencing operations in 2025.
From the project site, the company intends to deliver compressed hydrogen to industry, shipping and mobility in eastern Norway, and says it has secured a Letter of Intent (LoI) for a “substantial amount” of offtake.
As well as the hydrogen produced from the site itself, Ragnhild Stokholm, Manager of Aker Horizons Asset Development, explained that excess heat from the production process could be used in industry.
“We are working closely with Tinn municipality, Rjukan Chamber of Commerce and local industrial actors, to explore opportunities for utilizing the waste heat from the hydrogen production for other industrial processes, thereby supporting local circular economic development,” Stokholm said.
The company’s CEO, Knut Nyborg, has said the Rjukan project will serve as a blueprint for its larger project, including its planned large-scale green ammonia project in Narvik with Nordkraft.
Read more: Large-scale hydrogen production to be incorporated into a green industrial hub in northern Norway
Nyborg added, “Our goal is for green hydrogen to become a cost-competitive climate solution to reach Net Zero, both in Norway and globally.”
It is hoped the project could play a role in ramping up the wider Norwegian hydrogen industry. Håkon Haugli, CEO of Innovation Norway said, “The development of new technology for the production and commercialisation of green hydrogen plays an important role in Norway’s green energy transition.
“The Rjukan green hydrogen project is an early mover and an innovative project with great growth potential, which can contribute to increased mainland exports from Norway.”
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