Permascand Top Holding AB (publ) announced that the company has signed a Letter of Intent (LOI) with RES – for the co-development of a commercial research center in the green hydrogen plant RES are developing in Alby, Ånge Municipality, Sweden. The purpose of the LOI is to continue the negotiations for the establishment and investment in a commercial research center for testing and evaluation of Permascands products in a production plant which enables significant and important results for the project. RES drives the development and establishment of a green hydrogen plant in Alby in the area designated by Ånge Municipality for establishment of power-intense industry.

The goal is to be able to provide green hydrogen to the industry in a first stage, by the turn of 2024/2025. With a new grid connection, the facility will be gradually expanded on a larger scale by the turn of 2026/2027. The terms of the cooperation will be regulated in a possible future and binding agreement.