HYON: The Missing Link in the Blue Economy
There’s no future without eco-consciousness, and HYON knows it best!
As years pass by, we, as dwellers of the Earth, have become aware of the negative impact on the green economy, which is a massive step for humankind, but we have failed to popularize the blue economy.
Equally as important as the green economy, the blue economy yields a revenue of trillions of dollars a year. As a matter of fact, oceans are the means for the transport of over 90% of all of the traded goods, so we can only imagine the potential damage to the water surfaces.
With the goal to halt the possible damages to the blue economy, 3 business entities joined forces and established a company that’ll deliver renewable solutions for the maritime industry.
Saga Pure, Norwegian Hydrogen, and Nel are the brand owners of HYON - the renewable energy company that’s about to reinvent the maritime sector for the better.
How It All Started
Considering the troubles of delivering and transporting hydrogen for ships, industry giants like Norwegian Hydrogen, Nel, and Saga Pure made a business-conscious decision to join forces and act as one.
Looking to adhere the individual qualities of each of the three companies into a single-acting business that will encompass the production, storage, and distribution of hydrogen from shore to ships, HYON emerged as the ultimate solution.
Founded in 2017, HYON delivers fast and safe hydrogen bunkering for ships, combines stand-alone fueling solutions, integrates manufacturing, and provides a wholesome service.
So, this isn’t a story of an individual, as the problem doesn’t affect only some of us - but a story of a few businesses joining forces to combat a global issue.
Halting the Demise of the Blue Economy
Being a highly utilized part of the world economy, the seas, the oceans, and the rivers are the principal means of transport for pretty much all of the traded goods we know of today.
Massive ships transporting different kinds of goods traveling from shore to shore need to run on eco-friendly fuel to not disrupt the ecosystem in the waters.
According to recent findings, the shipping industry accounts for nearly 2.5% of the global CO2 emissions, and the International Maritime Organization is looking to lower the emissions by 50% by 2050. Hopefully, HYON will play a huge part in reducing the carbon footprint.
Not wanting to be a part of the demise of the blue economy, HYON is dedicated to changing the industry's rules and leading the way towards a cleaner tomorrow for everyone.
Using cutting-edge technology and thinning out of the box, HYON is on its way to delivering cost-efficient and eco-friendly hydrogen-delivery services.
One of the trending projects HYON is part of is the design of zero-emission ferries in Geirangerfjorden, which will hopefully help keep the Norwegian continental shelf in check with eco-requirements and global renewable energy standards.
Money Makes Innovation Work
Since its launch in 2017, HYON has attracted a lot of valuable investors and received several investments.
In 2019, the Norwegian Pilot-E scheme awarded the company funding for its major innovation, ZEFF (Zero Emission Fast Ferry).
This vessel was designed to function without CO2, NOx, SOx, or particulate matter emissions. Hydrogen and batteries are the primary sources of fuel cells. The fast ferry consumes around 45% less energy per passenger/kilometer than traditional maritime vessels. It can vary in size and capacity, supporting 100-300 passengers.
The same year, HYON received €6 million in funding from the Norwegian government for its SeaShuttle project. This innovative initiative had an ambitious goal to produce top-notch zero-emission container ships.
Two all-electric ships were part of the project, and their purpose was to connect the Norwegian west coast, the Oslo fjord, the Swedish west coast ports, and Poland. Both vessels used state-of-the-art hydrogen fuel cells, including a diesel-electric and battery operation hybrid model.
Being innovative and fast-acting, HYON managed to catch the attention of several crucial partners in this project, such as the most influential European multimodal operator Samskip, technology group Kongsberg Maritime, and logistic consultant FlowChange.
Ready for IPO
In January 2022, the already acclaimed Norway-based manufacturer of zero-emission hydrogen bunkering solutions reportedly completed a successful private placement of $5.6 million, which raised the total company’s capital to approximately $13 million.
The IPO comprised more than 21 million sold shares for NOK 2.34 per share.
The capital raised in this private placement is meant to support fund growth and investment scale. This boost will further improve the balance sheet and cover general corporate purposes and upcoming projects.
A Bluer Future Is Possible
Since its inception in 2017, the company has done its best to participate in as many eco-friendly projects as possible to ensure its part in preserving our planet’s waters.
The Deep Purple Project
One of the many projects HYON has participated in and one of the most significant is the Deep Purple project of 2019. Namely, HYON partnered up with TechnipFMC to deliver consulting services for the project revolving around converting offshore wind energy into hydrogen and storing it on the seafloor.
The significance of the Deep Purple project lies in its renewability. HYON was utterly proud to participate in something that will harvest energy from offshore wind farms and transform that raw energy into hydrogen that would then be used to supply renewable electricity to oil and gas platforms.
Proud to incorporate the HYON principles into providing renewable energy, Tomas Tronstad, the Managing Director at HYON, stated that the final product, hydrogen, can be used for zero-emission power onboard ships.
With the successful implementation of the project on the continental shelf of Norway, carbon emissions could drop significantly.
A CO2-Free Tomorrow? -Yes, Please!
All of the forward-thinking team behind HYON made withstanding the competition coming from companies like AFC Energy, Proton Motor Power Systems, and Connected Energy, among others, a breeze. Now more than ever, HYON is standing on solid ground and is adamant about keeping up with its success.
Participating and completing projects like designing the Zero-Emission Multi-Purpose Aquaculture vessel and the Zero-Emissions Container Feeder Vessel, HYON is well on its way to providing a carbon-free future for us all, especially for the sake of sea life.
On the Path to Greatness
Additionally, HYON will present the world’s first commercial-scale filling station for pressurized hydrogen in the maritime industry at the Hellesylt Hydrogen Hub. This trailblazing project for bunkering technology solutions is set to be delivered over the next few years.
In this era of globalization, where overseas tourism and the transportation of goods act like a bloodstream that connects people and businesses, HYON has a vital role with its dedication to sustainable resources for the maritime sector.
HYON’s main targets remain marine transportation, fuel cell, energy storage, and renewable energy. The company strives to contribute to a better, more environment-friendly world by developing and distributing renewable hydrogen products for the maritime industry.
No End In Sight for HYON
Founded in 2017 and headquartered in Oslo, Norway, HYON attracted dozens of high-qualified employees with different levels of expertise in providing suitable hydrogen production and delivery services.
The company’s management team, consisting of Jørn Kristian Lindtvedt as the CEO, and Jan Frode Andersen as the CFO, is leading HYON toward being the trailblazer in producing and delivering sustainable, renewable fueling energy for the blue economy.
With dedicated and knowledgeable pathfinders like the leaders of HYON, the world can sleep better knowing that there’s someone out there working hard to change the outdated patterns that harm our planet.