Large scale production of green hydrogen and ammonia [Iverson project]

Offentlig prosjektsammendrag

Iverson eFuels AS (Iverson) has been established to develop large-scale production of green ammonia in Sauda. Together with the local community and national authorities, we are developing the green industry of the future. The global economy needs a clean and predictable source of energy, and our product plays a central role in the transformation from fossil energy to new and green energy. Our project stands on the shoulders of industry giants. With over a hundred years of industrial history, and unique expertise, Sauda has what it takes to build the industry of the future. We combine our knowledge and entrepreneurship with the local expertise to create an industrial adventure that will have great regional, national and international significance. Iverson was established to develop large-scale production of green ammonia and the product is primarily intended to meet the growing demand for green fuel in the maritime sector. Norway has a strong maritime sector which will have a large and growing need for hydrogen and ammonia as fuel. The project in Sauda is in line with our objective to supply the emerging maritime sector and the existing markets. About the project: - The world's first and largest of its kind - The project is in the FEED phase, which will make the project ready for an investment decision. - Final investment decision is expected in 2024 and start of production in 2027. - Investments up to the final investment decision are estimated at NOK 200 million. - The Iverson project has received support from Agenda Vest (a Sparebanken Vest initiative) of NOK 1.8 million, and a further NOK 10 million from the UllaFørre fund to assist in the FEED process. - The project's first production phase will employ 50-100 people directly at the plant.