HYON AS (HYON) signed a collaboration agreement with Mitsui & Co. of Japan to pave the way for large-scale hydrogen fueling solution development, beginning with a joint feasibility study in the second half of 2022.
Together, the parties hope to pursue business opportunities involving the establishment of hydrogen fueling infrastructure in Europe, Asia, or any other region with a potential for hydrogen demand. Mitsui will make a financial and strategic investment in HYON as part of the agreement.
In order to define relevant parameters for the global presence of hydrogen fueling solutions, roll-out plan, cost, and specification of technical solutions, HYON and Mitsui will conduct a feasibility study as the first step in their collaboration. The feasibility study will take place in the second half of 2022 and will last between three and six months.