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HydrogenPro (“HydrogenPro” or “the Company”) is a leader in the green hydrogen space with the world’s largest single- stack high-pressure alkaline electrolyzer, which is used to produce green hydrogen. Electrolyzers are evaluated based on energy efficiency, where HydrogenPro’s latest tests indicate a substantial improvement in efficiency with an increase of up to 14%, setting a new industry benchmark. The Company has strong global partners and has a proof of concept by delivering electrolyzers to some of the largest hydrogen projects to date. HydrogenPro is uniquely positioned to capitalize on expected market growth during the forecast period 2025-2027. With an estimated revenue in 2027 of NOK 1 137m, and by applying a P/S multiple of 1,25, with a discount rate of 15%, this presents a potential present value of NOK 9,1 per share in a Base scenario.
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