HydrogenPro aims for U.S. expansion and reports Q3 net loss

  • HydrogenPro confirms EUR18 million order from Andritz for high-pressure alkaline electrolysers
  • Plan to build manufacturing facility in Texas being re-evaluated
  • U.S. market remains a top priority for HydrogenPro
  • Company aims to establish delivering capacity in the U.S. in 2024
  • Third-quarter net loss of NOK32.6 million compared to NOK22.1 million in same period last year
  • Sales pipeline growth remains robust with few project cancellations
  • HydrogenPro sees fast-growing pipeline in European market

Norwegian hydrogen-plant manufacturer HydrogenPro has confirmed an order worth EUR18 million from Andritz for high-pressure alkaline electrolysers. However, the company is re-evaluating its plan to build a manufacturing facility in Texas due to uncertainties around the U.S. legislative framework and funding schemes, as well as logistics and transportation complexities. Despite this, the U.S. market remains a top priority for HydrogenPro, and the company plans to establish delivering capacity in the U.S. by 2024. In the third quarter, HydrogenPro reported a net loss of NOK32.6 million, an increase from NOK22.1 million in the same period last year. The company’s sales pipeline continues to grow with few project cancellations, and it sees a fast-growing pipeline in the European market.

Factuality Level: 7
Factuality Justification: The article provides information about HydrogenPro’s purchase contract and plans for expansion in the U.S. It also includes financial information and statements from the company’s CEO. However, the article lacks in-depth analysis and context, and it does not provide sources or additional information to support the claims made.
Noise Level: 3
Noise Justification: The article provides information about HydrogenPro’s purchase contract and plans for expansion in the US. It also includes financial information and statements from the company’s CEO. However, the article lacks in-depth analysis, evidence, and actionable insights. It mainly focuses on reporting the company’s announcements without providing much context or critical analysis.
Financial Relevance: Yes
Financial Markets Impacted: HydrogenPro, Andritz
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses a purchase contract and the company’s financial performance. There is no mention of an extreme event.
Public Companies: HydrogenPro (null), Andritz (null)
Key People: Jarle Dragvik (Chief Executive)

Reported publicly: www.marketwatch.com