Interim Report H1 2023

22 08 2023


Green Hydrogen Systems releases first half 2023 report.

“In the first half of 2023, we continued our product and project deliveries. In recent months, delivered electrolysers have been site acceptance tested and are commissioned for commercial production of green hydrogen at customer sites in Chile, Norway and Denmark. These are important milestones in the roll-out of the first wave of electrolysers for green hydrogen production.

During Q2 2023, we experienced certain supply chain and product quality challenges influencing our production and delivery plan. These challenges are gradually resolved with new component arrivals allowing for an acceleration in customer deliveries from Q3 2023, following a Q2 with no revenue recognition.

We continue to have a good dialogue with existing and potentially new customers for both our A-Series and X-Series, and rest comfortably that new orders and sales will pick up. The maturation of the first X-Series prototype is progressing well, with several component and system tests done.

In July, we completed a capital raise, and we were very pleased with the result and see it as strong support from existing and new investors. The gross proceeds from the rights issue and the term loans provide the capital and the financial flexibility to continue executing our growth strategy,” says Green Hydrogen Systems' CEO, Sebastian Koks Andreassen.

Read the first half report 2023 here.

Conference call details:

In connection with this announcement, Green Hydrogen Systems will host a conference call. The conference call will be held on 22 August 2023 at 10:00 AM CEST.

Please visit to access the presentation used for the meeting.

Link to the webcast

DK: +45 89 87 50 45
International dial-in: +44 20 3936 2999
Participant access code: 454587

For more info please contact:

Jens Holm Binger, Head of Investor Relations,
+45 6065 6525,

Jesper Buhl, Head of Public Affairs and Media Relations,
+45 5351 5295,