Veidekke: Taking ownership interest in hydrogen company

Veidekke expands the collaboration and becomes co-owner of Applied Hydrogen at Kongsberg. "In order for the building and construction industry to halve CO\2\ emissions by 2030, we need to work with a broader range of sustainable energy solutions than we have done so far. We are now taking action on this development together with Applied Hydrogen," says Berit Laanke, Director of Business Development Sustainability at Veidekke Infrastruktur.

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Greenhouse gas emissions at Veidekke are largely linked to the consumption of building materials. Construction activity also has a significant footprint from the heavy part of the machinery fleet in particular.

"We were early adopters of battery-electric excavators, but believe that our energy consumption will be covered by several different energy carriers and that hydrogen will play a role in the heaviest operations. New energy solutions are also in demand from our customers, which is why we are now taking greater responsibility together with a very interesting partner," Laanke continues.

Applied Hydrogen AS was established in Kongsberg in 2020. The company is converting heavy construction machinery from diesel to hydrogen operation, and will simultaneously establish a distribution network for hydrogen to building and construction sites. Veidekke has secured a 20% ownership interest in the company, and Director Neal Nordahl of Veidekke Anlegg will represent Veidekke on the board.

"Applied Hydrogen represents a unique competence environment with insight and experience from industrial production, technology, energy, sustainability as well as mechanical and digital solutions. The company has a holistic and long-term approach throughout the value chain, from energy production and distribution to machinery and equipment. Fortunately, it is also important to compete on climate and the environment, so we strongly believe that the collaboration with Applied Hydrogen will strengthen our competitiveness," says Neal Nordahl, director of Veidekke Anlegg.

Veidekke and Applied Hydrogen have been working together for almost a year, and the first large 30-ton excavator is currently being converted to hydrogen operation in Kongsberg.

“We greatly appreciate that Norway's largest contractor is coming in on the ownership side and that they recognize our work so far. This is an important milestone for further growth and development for the company, and it also ensures a safe and realistic trial in a professional operational environment," says Vidar Sten-Halvorsen, General Manager of Applied Hydrogen.

Read more about Applied Hydrogen here.

For further information, please contact:
Director of Business Development and Sustainability Berit Laanke, tel +47 92 80 83 12,
General Manager Vidar Sten-Halvorsen of Applied Hydrogen, tel +47 93 40 57 71,
Communications Manager Helge Dieset, tel. +47 90 55 33 22,

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Veidekke is one of Scandinavia’s biggest contractors In addition to undertaking all types of building and civil engineering assignments, the group also maintains roads and produces asphalt and aggregates. Veidekke emphasises stakeholder involvement and local experience. Annual turnover is approx. NOK 39 billion, and almost half of its 8,000 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has posted a profit every year since its inception in 1936.

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