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Scandinavian companies Hexagon Composites ASA, Nel ASA and PowerCell Sweden AB have entered into an agreement to develop hydrogen projects that will initially focus on the maritime sector.

The joint venture (JV) is aimed at creating a one-stop-shop for customers wanting to utilize hydrogen technologies across the value chain: from renewable hydrogen production, storage, distribution and dispensing, to generating electricity via fuel cells.

Hexagon specializes in the storage and transportation of gases under high pressure; Nel produces and distributes hydrogen from renewable energy; and PowerCell makes power-efficient fuel cell stacks.

"We are happy over this common intention to develop a unique power solution that responds well to our customers' high environmental ambitions," said Per Wassen, CEO of PowerCell.

"This cooperation is strategically important, as we will be working with global market leaders and utilizing each party's respective technologies and competencies to develop new hydrogen solutions. The JV will be equally owned by the three parties and will initially focus on projects within marine applications." remarked Jon Andre Lokke, CEO of Nel.

"Together with Nel's leading technology for hydrogen production and fueling, the three companies are positioned to deliver unparalleled customer value in the form of a zero-emission power solutions," Lokke added.