HydrogenPro ASA Secures NOK 70 Million Investment from LONGi Hydrogen for Expansion
Key Ideas
- HydrogenPro ASA secures a NOK 70 million conditional equity investment from LONGi Hydrogen for general corporate purposes.
- LONGi Hydrogen obtains Overseas Direct Investment (ODI) regulatory approval in China for the investment.
- The investment involves subscribing for 12,703,209 new shares in HydrogenPro ASA at NOK 5.50 per share.
- Completion of the investment is pending resolutions by the Company's board of directors and registration of share capital increase.
HydrogenPro ASA has announced a significant development in its financial operations with a conditional equity investment of approximately NOK 70 million by LONGi Hydrogen Technology (Xi'an) Co., Ltd. This investment agreement, initiated in December 2024, has now seen LONGi Hydrogen securing the required Overseas Direct Investment (ODI) regulatory approval in China, paving the way for the investment's completion by the end of the second quarter. As part of the agreement, LONGi Hydrogen will subscribe to 12,703,209 new shares in HydrogenPro ASA at a price of NOK 5.50 per share. The funds raised through this investment are earmarked for the Company's general corporate purposes. However, the finalization of the investment is subject to further actions, including the board of directors' approval for issuing new shares, based on the authorization granted during the annual general meeting in April 2025, and the subsequent registration of the share capital increase in the Norwegian Register of Business Enterprises.