HydrogenPro ASA has agreed to acquire the remaining 25 per cent stake in HydrogenPro Tianjin from Tianjin Miaoqing Machinery Equipment Co., bringing its ownership from 75 per cent to full ownership. The transaction is valued at CNY 3 million in cash plus the equipment valued at about CNY 1.8 million. Completion of the transaction remains subject to the relevant approvals from Chinese authorities.
This follows the original agreement in November 2025 through which HydrogenPro obtained the initial 75 per cent majority stake in the facility. The facility has undergone multiple upgrades since the earlier acquisition, with improvements directed toward quality enhancement and advanced systems. It now has an estimated annual manufacturing capacity of approximately 500 MW per annum. Additionally, it has also manufactured electrolysers for two large green hydrogen projects.
In August 2025, LONGi Hydrogen obtained the required overseas direct investment approval from Chinese authorities for its planned equity investment in HydrogenPro. The approximately NOK 70 million investment was announced in December 2024, with HydrogenPro expecting to complete it by the end of the second quarter of the financial year 2025-26.