HYON, a company founded in 2017 with the aim of being the leading provider of bunkering solutions for hydrogen, has entered a collaboration agreement with the Japanese trading and investment company Mitsui & Co., Ltd. The partnership sets the stage for large-scale development of hydrogen fueling solutions, starting with a joint feasibility study in the second half of 2022.

Together, the parties aim to venture into business opportunities related to establishing hydrogen fueling infrastructure in Europe, Asia or any other geographies with potential hydrogen demand. The agreement also opens for a financial and strategic commitment from Mitsui into HYON.

With its vast network and global presence, Mitsui is an important strategic partner that will allow us to scale the business volume quickly and thereby provide highly competitive offerings to the market. This agreement is an important step towards making HYON a leading global provider of hydrogen fueling solutions.

—Jørn K. Lindtvedt, CEO of HYON

As a first step of the collaboration, HYON and Mitsui will conduct a feasibility study to define relevant parameters for the global presence of hydrogen fueling solutions, roll-out plan, cost and specification of the technical solutions. The feasibility study will be undertaken in the second half of 2022, lasting a minimum of three to six months.