HydrogenPro acquires full ownership of manufacturing site in Tianjin, China

Summary by AI ^BETAClose X

HydrogenPro ASA has agreed to acquire the remaining 25 per cent of HydrogenPro Tianjin from Tianjin Miaoqing Machinery Equipment Co., Ltd. for CNY 3 million in cash and equipment valued at approximately CNY 1.8 million, bringing its ownership to 100 per cent. This move aligns with HydrogenPro's strategy to streamline operations and secure full ownership of the cost-efficient manufacturing plant, which has a capacity of approximately 500 MW per annum and has produced electrolyzer systems for major green hydrogen projects. The transaction is subject to approval by Chinese authorities.

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[27 November 2025] – HydrogenPro ASA (OSE: HYPRO) has reached an agreement with Tianjin Miaoqing Machinery Equipment Co., Ltd. to acquire 25 per cent shares of HydrogenPro Tianjin, bringing HydrogenPro’s ownership position from 75 per cent to 100 per cent.

The consideration in the transaction consists of CNY 3 million in cash plus equipment valued at approx. CNY 1.8 million.

After the original agreement signed in November 2021, where HydrogenPro acquired 75 per cent, the site has been through several upgrades with focus on quality improvement and advanced systems, increasing manufacturing capacity to approx. 500 MW p.a.The plant has, among others, manufactured electrolyzer systems for two of the world’s largest green hydrogen projects.

“This transaction is in line with HydrogenPro’s strategy of streamlining operations. We are pleased to secure full ownership of the plant, which is a very cost-efficient set-up with capacity to deliver on large projects. The plant is already controlled and operated by HydrogenPro. HydrogenPro is, as previously communicated, in dialog with LONGi under the joint cooperation agreement about optimization of manufacturing footprint and further synergy recognition." said Jarle Dragvik, CEO of HydrogenPro.

The completion of the transaction is contingent upon receiving approval by Chinese authorities.

About HydrogenPro:
HydrogenPro, established in 2013, specialises in pioneering green hydrogen technology solutions through partnerships with global collaborators and suppliers. Our flagship products are high-pressure alkaline electrolysers, incorporating some of the most advanced technology available. As an OEM, we provide high-pressure alkaline electrolysers and supply large-scale green hydrogen plants, all certified to ISO 9001, ISO 45001, and ISO 14001 standards. Our experienced engineering team consists of leading industry experts, drawing upon unparalleled knowledge and expertise in the hydrogen and renewable energy sectors.
For more information, visit www.hydrogenpro.com