Vireon takes over Westgass Hydrogen's focus on hydrogen refueling stations, and enters into cooperation in other parts of the value chain
Vireon has entered into an agreement to purchase the refueling station venture for Westgass. At the same time, Vireon, Norwegian Hydrogen and Westgass enter into a strategic collaboration for the distribution of hydrogen. "An important and right agreement for all of us," says Jens Berge, CEO of Norwegian Hydrogen and Chairman of the Board of Vireon.
Arne Åkerlund, CCO of Westgass and Jens Berge, CEO of Norwegian Hydrogen
““Westgass has been skilled, and early movers in securing good locations and positions in the market. The fact that we now take over the position they have had in hydrogen refueling stations will therefore strengthen our commitment, where we have a clear ambition to become the leading player in the Nordic region. I am sure that this acquisition will make us an even more attractive partner for transport companies that want to cut their emissions”
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Westgass will focus on distribution
““We have been working on developing refueling stations for hydrogen since we started our hydrogen venture. Now is the right time to hand the portfolio over to Vireon, who are betting heavily on this market. In doing so, we can focus even more strongly on our core business, which is a supplier of hydrogen. We have a clear goal of becoming the leading distributor of hydrogen in the Nordics””
Enters into strategic tripartite cooperation
At the same time as Vireon takes over Westgass' refueling station investment, Vireon, Westgass and Norwegian Hydrogen are also entering into a strategic tripartite collaboration. The cooperation means that Westgass will be able to assist with the distribution of hydrogen for both Vireon and Norwegian Hydrogen, while Westgass can secure hydrogen for its customers from Norwegian Hydrogen's production facilities. "We are three companies that have gotten to know each other well and talk well together. We have great respect for each other and for each other's strengths. We will now seek to make the best possible use of this in the future so that we can provide our respective customers with an even better offer," says Berge of Norwegian Hydrogen.
“We see that the demand for green hydrogen is now growing strongly. There is not enough existing production of hydrogen in Norway to cover the need. Westgass sees great opportunities in this collaboration, and we look forward to the continuation together with Vireon and Norwegian Hydrogen. It is a win-win: for all three parties, for the customers, and not least for the environment”, concludes Kinar Kent, CEO of Westgass.
About Westgass Hydrogen
Westgass Hydrogen AS has been distributing and selling green hydrogen in the Nordics since 2022. The company targets B2B sales to industrial actors across multiple segments including construction, high-grade heating, aquaculture and transport.
The company founders established the business following the successful exit of a NOK 2 billion/year natural gas business in 2021.
Westgass is headquartered in Stavanger, Norway.
Links:
Westgass Hydrogen
