Green Hydrogen Systems launches its next phase of production facilities expansion to 400 MW and acquires factory land and buildings. CAPEX guidance for 2021 increased.
Kolding, Denmark, 22 July 2021 – The Board of Directors of Green Hydrogen Systems, a leading provider of efficient electrolysers used in the on-site production of hydrogen based on renewable energy, has in line with the company’s strategy approved its planned second expansion phase of its current combined manufacturing, R&D, and office facilities in Kolding, Denmark.
By 2023, when fully expanded, optimised and ramped up, the new facilities will increase the company’s current yearly capacity from 75 MW to 400 MW worth of electrolysers. In subsequent phases, the facilities can be further scaled to manufacture electrolysers with 1,000 MW capacity a year as demand for Green Hydrogen Systems’ electrolysers continues to grow.
In addition to the expansion project the company has decided to acquire full ownership of both current facilities and land as well as the surrounding land for future expansion phases. As part hereof, Green Hydrogen Systems will also take ownership of the new facilities during the phase 2 construction. This ownership structure is a change from the current lease model, however, whereas it will provide a short-term increase of CAPEX, it will importantly also provide maximum control, flexibility and independence to continue the company’s growth and to position Green Hydrogen Systems as a leading, global electrolyser manufacturer.
Read the complete announcement here: https://www.globenewswire.com/en/news-release/2021/07/22/2266952/0/en/18-2021Green-Hydrogen-Systems-Launch-of-the-next-phase-of-production-facilities-expansion.html