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Norway’s Hydrogen Mem-Tech raises NOK170mn from investors

AP Ventures, Yara Growth Ventures, Shell Ventures, Saudi Aramco Energy Ventures and SINTEF Venture have invested a total of NOK170 million in Hydrogen Mem-Tech (HMT), a Norwegian company whose palladium membrane technology separates hydrogen from bio and natural gas.

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HMT has developed a technology where clean hydrogen is produced from bio and natural gas, while CO2 and other residual gases are captured to be utilised or sequestered. The HMT palladium membrane technology builds on more than 20 years of research from SINTEF, and it has been extensively tested and piloted over a number of years.

"We are proud and incredibly humbled to have secured what will be one of the largest capital investments in an early-stage Norwegian tech company in recent years,” says Thomas Reinertsen, CEO of Hydrogen Mem-Tech.

“We are very pleased to have secured investors with a strong mix of industrial and financial expertise,” said Thor Egil Five, chairman of the board at Hydrogen Mem-Tech. “I’m certain that our new investors will help deploy our technology out into the world.”

“We are delighted to have led the investment round for Hydrogen Mem-Tech with a strong group of co-investors. As an established investor in the hydrogen value chain, we understand the exciting potential of this technology to unlock decarbonization opportunities across hard to abate industry and mobility,” says Andrew Hinkly, managing partner at AP Ventures.