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Nysnø Climate Investments, Equinor Ventures and Yara Growth Ventures have become the first Norwegian Limited Partners in AP Ventures Fund II, which focuses on investing in the hydrogen economy.
The investment is set up to contribute to establishing a well-functioning market and value chain for hydrogen in Norway and around the world.
AP Ventures invests globally in the hydrogen value chain from production to transport, through storage and to end use. Norway is an area of focus for the Fund as a strategic location for green and blue hydrogen, due to the availability of hydropower, carbon capture, utilisation and storage (CCUS) capability, strong shipping and offshore industries and a leading position in the process industry. AP Ventures has already invested in two Norwegian technology companies, ZEG Power and Hystar. ZEG Power produces blue hydrogen with integrated carbon capture and Hystar produces green hydrogen through PEM electrolysis.