The city of Oulu and Hy2gen Nordic AS sign a letter of intent regarding the development of green transition industry in Vihreäsaari
The city of Oulu and Norwegian Hy2gen Nordic AS have signed a letter of intent with which both parties confirm their commitment to develop the green transition industrial area in Vihreäsaari. Hy2gen Nordic AS plans to build a hydrogen and synthetic fuel production plant in Vihreäsaari. The city of Oulu’s Urban Environmental Committee granted a planning reservation for the area in November of 2025.
“Oulu offers excellent conditions for developing hydrogen-based industrial solutions. We are very happy to cooperate with the city and to see that the development in Vihreäsaari is progressing. The letter of intent confirms our shared commitment and creates a good basis for the coming cooperation agreement”, CEO of Hy2gen Nordic AS Hege Økland states.
Operations in many countries
With the letter of intent, the city of Oulu and the company commit to promote cooperation with the aim of signing a cooperation agreement in 2026. The cooperation agreement defines the launching of the detailed plan amendment, the target schedule, and the division of costs.
Hy2gen Nordic AS’s parent company is the German Hy2gen AG. The company’s products include renewable hydrogen, ammonia, methanol, and Power-to-X (PtX/P2X) fuels, such as sustainable aviation fuel (SAF). The company has project plans in France, Norway, Canada, and Germany. Additionally, the company already operates a renewable hydrogen and e-methane production facility in Germany.
A step towards reinforcing green transition industry
The letter of intent is a step towards the area’s land use and industrial development that supports Oulu’s goal to reinforce the prerequisites of green transition industry. Oulu has become the most significant synthetic fuel production hub in the Baltic Sea region. A total of six projects are in the works all over the city.
“Development in Vihreäsaari plays a significant part of the city of Oulu’s green transition plans. Cooperation with Hy2gen advances us towards concrete investments and bringing new types of industry into the area”, city of Oulu’s Mayor Ari Alatossava states.
