Hege Økland, CEO of Iverson eFuels and Managing Director of Hy2gen Nordic, stated: “We are very pleased that a majority supported the approval of our zoning plan. This is a crucial step forward for the project and the beginning of a new industrial chapter in Sauda. We look forward to constructive dialogue and close cooperation with the municipality, local businesses, and the community.”
The Iverson facility will feature a 270 MW electrolysis unit powered by renewable hydropower, producing renewable ammonia expected to reduce nearly three million tons of CO2 emissions over its first ten years of operation. The project aligns with Rogaland County Council’s regional plan for zero-emission industry and supports Norway’s national climate objectives, contributing to sustainable energy transitions.
The initiative is anticipated to create significant local benefits, including over 300 jobs during the construction phase and 50 to 60 permanent positions once the plant is operational. Additionally, it is expected to generate hundreds of indirect jobs within the Sauda community, promoting long-term economic development.
Following the zoning approval, the Iverson project will advance to technical development stages, with a final investment decision pending. The facility, first announced by Hy2gen in 2022, is a collaborative effort involving Hy2gen, Iverson eFuels, and Denmark’s Copenhagen Infrastructure Partners (CIP). In 2024, Singapore-based Trafigura sold its stake in the project to Hy2gen Nordic, streamlining ownership.
The Iverson plant demonstrates the potential of renewable energy to drive sustainable industrial growth. By leveraging local hydropower, the project aims to support environmental goals while creating employment opportunities and fostering community collaboration in Sauda. As technical work progresses, the initiative is poised to contribute to Norway’s leadership in renewable energy innovation.
