Press release
Stockholm and Vaasa, July 15 2025
Green Hydrogen: A Catalyst for Climate Action and Industrial Competitiveness
Transitioning to green hydrogen is essential to meet the national and global climate targets, enhance industrial competitiveness, and create a flexible, resilient energy system. Hydrogen unlocks emission-free solutions for heavy industry, transportation, and energy storage, while providing stable revenue streams to renewable power producers. This translates into increased system efficiency and improved economics for renewable electricity generation.
Strategic Market Expansion in Finland
Finland aims to become a European leader in green hydrogen and is targeting to account for at least 10% of the EU’s renewable hydrogen production by 2030, according to resolution adopted by the Finnish Government. With access to fossil-free electricity, developed industrial base, and a clear national hydrogen strategy, Finland presents a compelling operating environment for large-scale hydrogen production, project development and international partnerships.
“The establishment of our Finnish joint venture marks the expansion of our commercial focus. By adding Finland to our geographical footprint, we strengthen our ability to rapidly build an investable portfolio of hydrogen projects. This is an important step in our ambition to accelerate the availability of competitively priced green hydrogen across the Nordic region,” says Axel Alm, CEO of Hyrizeon AB.
1 GW Project Portfolio by 2027
Hyrizeon Oy aims to develop a diversified project portfolio, totaling 1 GW of electrolyze capacity by the end of 2027. The goal is to establish competitive lead hydrogen projects with positive environmental impact, risk-minimized operating plans and long-term off-take agreements. These projects will be structured as separate special purpose vehicles (SPVs) and financed in partnership with external investors.
Joint Venture Governance and Next Steps
Hyrizeon AB will hold the majority ownership of the joint venture, leading technology development, financing, and off-take agreements. As a partner of significance, Etha will manage permitting, grid connections, and stakeholder relations in Finland. Initial projects are anticipated to be published in spring 2026.
“We view our collaboration with Hyrizeon as a strategic and natural evolution of the Etha Group, transitioning from standalone wind and solar power to integrated green energy infrastructure solutions. Together, we strengthen our position as a leading business partner in the green energy infrastructure sector of Finland and Sweden”, states Staffan Asplund, CEO of Etha Oy.
Hyrizeon
Hyrizeon accelerates Europe’s energy transition through green hydrogen – enabling climate-neutral industry, energy resilience, and long-term value creation. With a senior engineering team averaging 25+ years of experience, Hyrizeon delivers turnkey hydrogen solutions from feasibility to commissioning.
The company develops its own large-scale projects and also partners with utilities, industrial companies, infrastructure providers, and institutional investors across Europe. Combining deep technical know-how with project execution capacity, and market insight, Hyrizeon effectively creates investable, high-impact hydrogen assets aligned with the EU’s climate and industrial policy goals.
– Boosting local job creation, reducing dependence on fossil imports, and building critical infrastructure for a robust, future-proof energy system.
Additional information:
Axel Alm, CEO, Hyrizeon AB
+46 768 53 58 79 / axel.alm@hyrizeon.com
www.hyrizeon.com
Etha
Etha offers project development services within renewable energy. Since 2002, Etha has participated in over 20 GW of wind, solar and battery energy storage projects, often throughout the whole chain from a project idea to ready-to-built. Projects Etha has participated in are located all over Finland, and via its network of cooperation partners the consultants of Etha take part also in projects of other Nordic countries and the Baltics. In special cases, where Etha can ensure additional value, consultants work also outside the previously mentioned markets.
With over 50 experts with technical, commercial or legal background, Etha forms a strong team with an acknowledged ability to manage projects with our cooperation partners.
Additional information:
Staffan Asplund, CEO, Etha Oy
www.etha-consultancy.com