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21 Jun 2024

Enova has agreed to fund nine hydrogen vessels and six ammonia vessels

Enova has agreed to fund nine hydrogen vessels and six ammonia vessels

Enova is a Norwegian state-owned company and they recently made an announcement, stating that they have agreed to fund nine hydrogen vessels and six ammonia vessels with NOK 1.2bn.

It was in December of 2023 that the company launched the ‘Hydrogen in Vessels’ programme and the ‘Ammonia in Vessels' programme. This was done to create the first value chains which would be suitable and functional for ammonia and hydrogen maritime purposes.

For this funding round, Enova selected Høegh Autoliners and Amon Gas for the ammonia side of the project. Then, on the hydrogen end of the project, Napier and Halten Bulk were chosen.

The programmes which Enova is operating, are deliberately designed to support new vessels and converted hydrogen and ammonia vessels. The applicants for the project were ranked according to cost-effectiveness (70%), alongside project maturity (30%). It has been made clear that projects will be able to receive an extra 80% of approved additional costs, which is a large increase from the previous 40% allowance.

It has also been announced that the next application deadline for this programme will be on the 27th of September 2024.

CEO of Enova, Nils Kristian Nakstad, commented, “Enova will help establish a well-functioning initial market for zero-emission maritime transport. Through the support for these vessels, we are now creating demand for these fuels. The programme must therefore be seen in conjunction with upcoming support for hydrogen production and ammonia bunkering, and in total, we are now talking about transformation on an entirely different scale than before.”

Nakstad also mentioned that ‘despite the competition being tough, with good projects not making it through to the funding, these pioneer projects will lead the way in Norway. “We see that the maritime industry is now at a tipping point where the transformation from here can accelerate.”’

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