Stockholm and Vaasa, July 15, 2025
Hyrizeon and Etha establish Joint Venture to Drive Large-Scale Green Hydrogen Development in FinlandKey to Carbon-Neutral Industry and Efficient Energy Storage
The Swedish hydrogen technology company Hyrizeon AB and the Finnish renewable energy consulting company Etha Oy have entered into a strategic partnership to establish a joint venture, Hyrizeon Oy, targeting at the development of a 1 GW green hydrogen portfolio in Finland by 2027. The joint venture will be headquartered in Vaasa and is planned to commence operations in August 2025.
Click here to download the full press release in English, Swedish and Finnish
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.