Saga Pure invests NOK 30 million in member company ICT
Saga Pure Asa, a Norwegian investment company operating in areas such as renewable energy and hydrogen, has announced to invest NOK 30 million in IC Technologies AS (ICT) through private placement subscription. The investment will give Saga a 33% ownership in ICT.
The ICT solution
IC Technologies AS (ICT), which is based in Trondheim, is developing cryogenic distribution and storage solutions for liquid hydrogen and LNG.
Bjørn Simonse, CEO, Saga Pure
CEO in Saga Pure Bjørn SImonesen, says one of the crucial elements in the hydrogen value chain is storage, distribution and transportation. Liquid hydrogen is the most energy dense form of hydrogen, but current storage solutions for liquid hydrogen are not ideal as the hydrogen gradually evaporates over time.
ICT’s new patented storage solution involves active cooling, potentially eliminating these losses as well as enabling a more flexible tank design. Bjørn Simonsen, CEO of Saga Pure
Saga Puer sees hydrogen as one of the next big megatrends and believe the technology being developed by ICT can play an important role in transport and storage of hydrogen on a global scale.
Contact info
Bjørn Simonsen, CEO Saga Pure
+47 971 79 821 / bjorn.simonsen@saga-pure.com