A year ago, Flexens Oy Ab celebrated the launch of their spin-off HydRe, a startup aiming to build a hydrogen refuelling station network in Northern Europe. Now, Flexens is fulfilling its role as incubator, exiting HydRe and welcoming Norwegian Hydrogen as the spin-off’s new owner.
THE HYDRE JOURNEY
HydRe was founded at the beginning of 2022 with the intention to decarbonise heavy road transport and increase local energy security. The ambition is to construct at least fifty hydrogen refuelling stations by 2050.
Recently, HydRe received a Finnish Energy Authority investment grant for their project in Lieto, Finland, where the startup intends to build Finland’s first hydrogen refuelling station. Now, HydRe is welcoming new owners: Norwegian Hydrogen, another Northern European company, founded in 2020, focused on the whole green hydrogen value chain.
Even though Flexens is exiting HydRe as its owner, Flexens and HydRe will continue their partnership. The companies are currently preparing a green hydrogen plant paired with a hydrogen refuelling station in Lempäälä, Finland.
“We are excited to see what HydRe has been able to grow into and cannot wait to see what they will accomplish”, says Schalin. “We are pleased to have contributed to the success of HydRe so far, and look forward to future cooperation.”
Berndt Schalin, Flexens Oy Ab, email@example.com, +358 (0) 408 429 469
Juho-Matti Uuksulainen, HydRe, firstname.lastname@example.org, +358 (0) 40 352 1864
Per Øyvind Voie, Norwegian Hydrogen, email@example.com, +47 (0) 976 654 46
Flexens Oy Ab is a project developer and investor implementing critical technologies needed to enable societies to run 100 % renewable energy sources. Flexens was founded in 2018 to capitalise on the skills and capabilities created in building the world-leading RES testbed and demo platform, Smart Energy Åland, capturing the rapidly growing demand for renewable energy systems.
HydRe is a hydrogen mobility startup founded in 2022. The company will build and operate a network of hydrogen refuelling stations in Finland and Northern Europe. HydRe is launched by three renewable hydrogen and gas professionals and as a spin-out company by the Finnish energy project developer and investor Flexens. The goal for the startup is to build a hydrogen refuelling station network of 8 stations by 2025 and 50 stations by 2030. In 2030, HydRe aims to reduce 680 000 tonnes of CO2 emissions by delivering clean hydrogen to customers.