Hydrogen Economy – HydrogenPro ASA – Secures NOK 70 million from existing investors and conditionally NOK 70 million from new strategic partner NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. OSLO, Norway, Dec. 23, 2024 /PRNewswire/ — HydrogenPro ASA (OSE: HYPRO): HydrogenPro ASA (“ ” or the “ “) has secured approx. NOK 70 million in new equity through a private placement of new shares (the “ “) towards its existing shareholders ANDRITZ AG (“ “) and Mitsubishi Heavy Industries, Ltd. (“ “). The Company is further pleased to announce that it has entered into an investment agreement (the “ “) regarding a conditional equity investment of approx. NOK 70 million (the “ “) by LONGi Hydrogen Technology (Xi’an) Co., Ltd. (“ “) and a cooperation agreement (the “ “) with LONGi Hydrogen. Thus, provided successful completion of the LONGi Investment, the total gross proceeds to the Company from the Private Placement and the LONGi Investment amount to approx. NOK 140 million. The subscription price in the Private Placement and LONGi Investment is NOK 5.50 per share (compared to NOK 4.50 per share as of close on 20 December 2024). LONGi Hydrogen is engaged in the development and manufacturing of green hydrogen equipment and solutions. It is a holding subsidiary of LONGi Green Energy Technology Co., Ltd., a world leader in solar PV products and solutions, listed on the Shanghai Stock Exchange. , CEO of HydrogenPro, comments: “Over the past few years, we have demonstrated the importance of our strong partnerships with MHI and ANDRITZ, delivering two of the world’s largest green hydrogen projects. This investment further strengthens the solid cooperation within technology and market development.” adds: “They bring first-class industrial and technical expertise. We see a great strategic fit that together with all of our industrial partners on board we will broaden our opportunities to further optimize our current offering on the market.” The Private Placement Through the Private Placement, ANDRITZ and MHI will each subscribe for 6,350,000 new shares (the “ “) at a subscription price of NOK 5.50 per share (the “ “). The total subscription amount for the New Shares is approx. NOK 70 million. The New Shares will, following their issuance, represent approx. 15.3% of the Company’s outstanding shares. In connection with the Private Placement, both ANDRITZ and MHI have agreed to a 6-month lock-up for its shareholding, subject to customary exemptions. 5,281,300 of the New Shares will be issued to ANDRITZ and MHI on a temporary ISIN blocked from trading on Euronext Oslo Børs pending publication of a listing prospectus. The net proceeds from the Private Placement will be used for general corporate purposes. The Private Placement and issuance of the New Shares is expected to be concluded during the first half of January 2025. Share capital increase In connection with the Private Placement, the board of directors of HydrogenPro (the “ “) has resolved to increase the share capital of the Company with NOK 254,000 by the issuance of 12,700,000 new shares, each with a nominal value of NOK 0.02 pursuant to an authorization granted by the Company’s annual general meeting on 23 April 2024. Investment Agreement and Cooperation Agreement with LONGi Hydrogen Pursuant to the Investment Agreement, LONGi Hydrogen shall subscribe for 12,703,209 new shares in the Company at the Subscription Price. Completion of the LONGi Investment is subject to LONGi Hydrogen obtaining a necessary Overseas Direct Investment (ODI) regulatory approval in China to carry out its investment in the Company (the “ “), and the Company’s shareholders, following and provided LONGi Hydrogen obtaining the Approval, resolving to approve, or facilitate via a board authorisation, the share issue pertaining to the LONGi Investment at a general meeting. It is expected that the LONGi Investment will be consummated during the first half of 2025. Subject to completion of the LONGi Investment, LONGi Hydrogen has agreed to a 6-month lock-up for its shareholding (subject to customary exemptions). Moreover, LONGi Hydrogen intends to nominate one candidate to the Company’s board of directors in connection with the general meeting to be held for the purposes of consummating the LONGi Investment. The net proceeds to the Company from the LONGi Investment will be used for general corporate purposes. The primary purpose of the Cooperation Agreement is for the Company and LONGi Hydrogen to leverage their respective strengths to provide superior quality and cost-efficient products to customers, supporting their long-term vision for global decarbonization. The Cooperation Agreement specifically enables collaboration on relevant projects, broadening the scope of projects the Company and LONGi Hydrogen can bid on and enhancing the quality of products and services delivered. Additionally, the Cooperation Agreement will improve HydrogenPro and LONGi Hydrogen’s manufacturing footprint in China and Europe, ensuring optimized production and supply chain efficiency. Equal treatment considerations – Subsequent Offering The Private Placement entails a deviation from the shareholders’ pre-emptive rights pursuant to Sections 10-4 and 10-5 of the Norwegian Public Limited Companies Act. The Board has diligently considered the deviation from the shareholders’ pre-emptive rights to be in the best interest of the Company and its shareholders. Moreover, the Private Placement has been considered by the Board in light of the equal treatment obligations under the Norwegian Securities Trading Act section 5-14, section 2.1 of the Oslo Rule Book II, and Oslo Børs’ Circular no. 2/2014, and the Board is of the opinion that it is in compliance with these requirements and guidelines. In reaching these conclusions, the Board emphasized that the Private Placement enables the Company to efficiently raise new equity, and thereby improve the liquidity situation of the Company. Furthermore, the New Shares are issued above the volume-weighted average price (VWAP) of the Company’s shares the last 30 trading days prior to this date, and therefore, based on the current market price, the Private Placement does not result in financial dilution for the Company’s existing shareholders. Alternative structures to the Private Placement have been considered. To facilitate equal treatment, including to limit the dilutive effect of the Private Placement and provide shareholders who did not participate in the Private Placement the opportunity to subscribe for shares at the same price, the Board proposes that a subsequent offering (the “ “) is carried out by the issuance of up to 6,350,000 new shares, at the Subscription Price, which equals up to NOK 34.925 million in gross proceeds, directed at shareholders of the Company as per 20 December 2024 (as registered with the VPS two trading days thereafter) (except for Andritz and MHI) who are not resident in a jurisdiction where such offering would be unlawful or would (in jurisdictions other than Norway) require any prospectus, filing, registration or similar action (the “ “). The subscription period for the Subsequent Offering will commence following the approval and publication of an offering prospectus, expected during Q1 2025. The Subsequent Offering is subject to, inter alia, completion of the Private Placement, relevant corporate resolutions (including necessary resolutions by an extraordinary general meeting of the Company), prevailing market price and traded volume of the Company’s shares, and approval of an offering prospectus. Further information on any Subsequent Offering will be provided in a separate stock exchange release. The Board reserves the right in its sole discretion to not conduct or to cancel the Subsequent Offering. The Board also notes that the LONGi Investment, if and when completed, will entail a deviation from the shareholders’ pre-emptive rights pursuant to Sections 10-4 and 10-5 of the Norwegian Public Limited Companies Act. The Board will therefore consider applicable equal treatment obligations in relation the LONGi Investment following fulfilment of the conditions for consummation of the LONGi Investment, taking into account the prevailing market price and trading volumes of the Company’s shares at such points in time. the latest news shaping the hydrogen market at Hydrogen Economy – HydrogenPro ASA – Secures NOK 70 million from existing investors and conditionally NOK 70 million from new strategic partner, OECD – Leveraging De-Risking Instruments and International Co-ordination to Catalyse Investment in Clean Hydrogen To put the global economy in a trajectory aligned with the Paris Agreement, more investments in... Axon, through its ISETEC fund, announces a strategic investment in Powercell AB, a European leader in fuel cell technology Axon Partners Group, via its ISETEC fund, has made a new strategic investment in Powercell AB, a... 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These Maryland football signees could make an instant impact in 2025SINN FÉIN LEADER Mary Lou McDonald has been re-elected in Dublin Central. She was elected on the third count at the RDS this evening. Speaking ahead of her re-election this evening, McDonald told reporters that the maths for any government formation talks are going to be complicated. “Nobody has just a home run into government. It’s going to be challenging for everyone concerned and there’s nothing that will frustrate my efforts to do everything I possibly can to deliver the change that we talked about and for which we received a very substantial mandate in the course of this election,” McDonald said. Earlier today, Fianna Fáil leader Micheál Martin said his party has a clear pathway into government. Off the back of this, McDonald was asked if she has a message for the leaders of Social Democrats or Labour, one of whom is likely to form a crucial part in any formation plan including Fianna Fáil or Fine Gael. “Anything that I have to say to people I’ll have the courtesy to say to them directly,” the Sinn Féin leader said, adding that she is committed to bringing change about for voters. “I think we have to now reflect, talk to each and I believe collaborate to see how we make that change real.” McDonald said she plans to “review” the election results in the morning and will then reach out to other political parties.
Staten Island HS soccer: Despite rain, boys and girls’ all-star games bring out best in everyoneTHE Co-op has axed a popular variety of festive crisps - leaving shoppers crying for their return. The retailer's Ultimate Roast Potato crisps were a hit with customers - although some laughed at the name and pointed out that all crisps are made from potatoes. Advertisement 1 Co-op's Irresistible Ultimate Roast Potato Hand Cooked Crisps used to set shoppers back £1.75 After getting rave reviews last year customers have since sadly realised they are not returning this December, leading to passionate pleas to the Co-op. One said on X: "Finding out that @coopuk aren't doing their Ultimate Roast Potato crisps this year has made me sad. "In my humble opinion, they need to become a permanent fixture on the shelves!" Another added: "Where did your roast potato crisps go? Advertisement Read more in money ALL CHANGE DWP issues update on Universal Credit shake-up ahead of benefits being scrapped HOUSE THAT Inside the Poundland family home with hidden swimming pool that's on sale "They are 10x better than the pizza flavoured crisps. Please can we have them back?" While a third said: "Gutted that my favourite crisps ever are not to be seen this Christmas. Have you discontinued them? "Please tell me you haven't. "I normally stockpile them each year." Advertisement Most read in Money LET'S DOUGH First look inside new Glasgow bakery popular with Noel Gallagher & Foo Fighters UNHAPPY HOUR Fury as 11 popular beers AXED with brewery accused of 'wiping out heritage' SHUTTERED Bargain megastore in Scots city to shut for good in days TASTY TAPAS Popular Spanish tapas restaurant to open fifth location in Glasgow "I hope they'll look into stocking them next year as all the other Christmas crisps are so highly flavoured. "These were just perfect - the rosemary, garlic & salt - so uncomplicated. Gutted." The Co-op confirmed to The Sun that the flavour was no longer sold, having been replaced by its "Irresistible Camembert and Black Garlic Crisps". A spokesman said many of its sharing bags of crisps - including the festive Camembert ones, Pigs in Blankets, Turkey Tikka Masala and Serious Saucy - were currently on offer for £1.25 for Co-op Members, while non-members pay £1.75. Advertisement Retailers and brands often release Christmas-themed versions of their regular products to drive up sales before Christmas. Some are bought back year after year, but it can upset customers' traditions if they are discontinued in favour of a new variety. In the case of Roast Potato crisps, The Co-op has been selling them every winter since 2019, leading to a substantial fanbase. Why are products axed or recipes changed? ANALYSIS by chief consumer reporter James Flanders. Food and drinks makers have been known to tweak their recipes or axe items altogether. They often say that this is down to the changing tastes of customers. There are several reasons why this could be done. For example, government regulation, like the "sugar tax," forces firms to change their recipes. Some manufacturers might choose to tweak ingredients to cut costs. They may opt for a cheaper alternative, especially when costs are rising to keep prices stable. For example, Tango Cherry disappeared from shelves in 2018 . It has recently returned after six years away but as a sugar-free version. Fanta removed sweetener from its sugar-free alternative earlier this year. Suntory tweaked the flavour of its flagship Lucozade Original and Orange energy drinks . While the amount of sugar in every bottle remains unchanged, the supplier swapped out the sweetener aspartame for sucralose. CHRISTMAS FOODS AXED Cadbury's Festive Friends biscuits, which were this year phased out in favour of Festival Animals - caused a storm of protest. Advertisement One fan even started a petition on Change.org to reverse the decision. This month, The Sun also revealed Cadbury is no longer producing its Dairy Milk Mousse Snowman and Dairy Milk Winter Orange Crisp bars, which again have been missed by fans. M&S has also scrapped one of its popular Christmas drinks from shelves ahead of the big day. The retailer confirmed the Clementine Hot Chocolate had been discontinued but did not rule out the possibility of a come back. Advertisement The popular hot chocolate featured Belgian chocolate flakes with some citrus notes. Read more on the Scottish Sun HERE WE SNOW AGAIN Full list of Scots cities to be hit by blizzards as storm moves in MISSED CHANCE I'm Sir Alex's biggest signing mistake, I tell him whenever I see him Shoppers loved the sweet drink - but unfortunately won't be able to get their fix this season. One user on X begged for the retailer to bring the flavour back - saying her family "hasn't stopped talking about it for two years since Christmas 2022." How to save money on Christmas shopping Consumer reporter Sam Walker reveals how you can save money on your Christmas shopping. Limit the amount of presents - buying presents for all your family and friends can cost a bomb. Instead, why not organise a Secret Santa between your inner circles so you're not having to buy multiple presents. Plan ahead - if you've got the stamina and budget, it's worth buying your Christmas presents for the following year in the January sales. Make sure you shop around for the best deals by using price comparison sites so you're not forking out more than you should though. Buy in Boxing Day sales - some retailers start their main Christmas sales early so you can actually snap up a bargain before December 25. Delivery may cost you a bit more, but it can be worth it if the savings are decent. Shop via outlet stores - you can save loads of money shopping via outlet stores like Amazon Warehouse or Office Offcuts. They work by selling returned or slightly damaged products at a discounted rate, but usually any wear and tear is minor.KEARNEY – If you ask someone to describe Emerson Lopez, there’s a good chance they’ll use one of these adjectives. Resilient. Driven. Hardworking. Respectful. Personable. The University of Nebraska at Kearney senior is all of those things. If you ask him to describe himself, he’ll give you a single word. Blessed. Born in Guatemala and raised in Oakland, California, Lopez and his family moved to Nebraska when he was a junior in high school. He attended Grand Island Senior High, knowing all along that college would be part of his future. Education has always been a priority for Lopez and his parents. That’s why they came to the United States, to give him an opportunity to earn a college degree and get ahead in life. “That was always a goal for me,” Lopez said. “I knew it was going to be a challenge, but nothing is impossible. I have a lot of faith, and I think that played a really big role.” After high school, Lopez started his journey toward a four-year degree at Central Community College in Grand Island. He saved money by completing general education courses there and was part of the National Society of Leadership and Success. Lopez received an Associate of Arts degree from CCC, then took a semester off before transferring to UNK in fall 2022. The decision to become a Loper changed his life. When he arrived on campus, Lopez didn’t have a clear vision of the path ahead. He knew he was interested in business, but that’s about it. The puzzle pieces began falling into place when he was introduced to supply chain management. “I love to solve problems, and supply chain is perfect for that,” Lopez explained. “You’re working behind the scenes to solve logistical problems for companies and make sure products get where they need to go.” With a 100% job placement rate for graduates, the UNK supply chain management program prepares students for a variety of high-demand positions in purchasing, planning, transportation, storage, distribution, sales and customer service. Lopez discovered a “passion” for this career, then immediately found a job in the industry. “Everything really connected at the right time,” he said. But none of it would have happened without that resilience, drive and work ethic. Over the next year, Lopez worked as an inventory control specialist at the JBS beef-processing plant in Grand Island. His shift started at 10 p.m. and ended at 6 a.m., leaving very little time for rest before morning classes at UNK. “That was tough, because I would only sleep a couple hours, but I think it was a great experience,” Lopez said. “All the lectures and lessons from class, I was experiencing that firsthand at work. That’s what motivated me.” As an inventory control specialist, Lopez used the knowledge he gained from the supply chain management program and his bilingual communication skills to ensure JBS products reached consumers on time. He connected with other companies through the Supply Chain Management Organization, a student group focused on professional development and networking, as well as campus career fairs and site visits coordinated by the program. Those interactions led to a summer internship with Lincoln-based Crete Carrier, a national leader in the trucking industry. “The connections you create in the supply chain management program are extremely valuable,” said Lopez, who received the Henning Family Scholarship through the College of Business and Technology. “That’s why I really recommend this program.” Now focusing on academics full time, Lopez appreciates the support he receives from UNK faculty, especially his adviser Greg Benson, a professor and coordinator of the supply chain management program. They get together to talk about his professional plans, or anything else that’s on his mind. “He truly cares about you and wants to get to know you as a person,” Lopez said. “That’s really important to me. These are people I will remember for the rest of my life.” Lopez is also part of the First-Gen Lopers student organization and TRIO Student Support Services, a federally funded program that provides academic and personal support, financial guidance and career development opportunities for first-generation and income-qualified students and those with documented disabilities. “UNK is a great school if you’re first-gen,” he said. “There are a lot of resources available and the people who work here are always willing to help you reach your goals. It’s been a great experience.” On track to graduate this spring, Lopez can’t wait to celebrate that milestone moment with his parents. “It’s been a long journey, with them coming to the U.S. from Guatemala. They’ve worked so hard and supported me throughout my time in college, and I know they’re really proud of me,” he said. “It’s an accomplishment for me and for them.” Subscribe to our Daily Headlines newsletter.