18 Oct 2022
Logan Energy has signed a landmark agreement to develop hydrogen power projects with Norwegian energy giant, Moreld.
The Memorandum of Understanding (MOU) will see the Scottish company deliver hydrogen solutions for the Norwegian and Scandinavian energy markets with the option to extend the cooperation to other regions.
Logan Energy is one of the leading suppliers of integrated hydrogen solutions, supplying systems to Europe and further afield. Moreld is a leading multi-discipline engineering company, specialising in contracts across all project phases - from concept development and studies to completion, commissioning and maintenance.
The Nordic and Scandinavian market has taken an early lead in the energy transition challenge. With a heavy focus on renewable power, the region is arguably decades ahead of other markets. The Nordic countries feature world-leading levels of renewable power – and, historically, the lowest power prices in Europe. Norway, for example, features near 100% renewable supply, and Denmark has the world's highest level of wind and solar penetration.
Logan Energy and Moreld will join forces to connect production sites directly with local renewable energy sources to both fuel and decarbonise industry in the region. It is anticipated that Logan Energy will supply the technology solutions while Moreld will provide local market intelligence and construction support.
Bill Ireland, CEO of Logan Energy, said:
“This is an exciting development in our desire to extend the reach of our expertise by collaborating with partners such as Moreld.. It has the potential to create jobs and demonstrate the importance of hydrogen as part of the modern energy mix.
At Logan Energy we are excited to partner with companies who share our vision for hydrogen and the Norwegian and Scandinavian markets are already hotbeds of innovation.”
Karsten Gudmundset, CEO of Moreld Apply, said:
“This MOU is strategically important for us and builds on our ambition of leveraging our strong engineering and technology base to continue growing our market share within new sustainable business segments.”