The embassies of the Kingdom of the Netherlands in Sweden, Denmark, Norway, Iceland and Finland and the Netherlands Enterprise Agency (RVO), have commissioned a market study on hydrogen in the Nordics carried out by Finnish consultancy firm Spinverse. The study was completed in May 2023.

Each of the Nordic countries offers different opportunities for Dutch companies. These include opportunities for Dutch companies that want to enter the Nordic hydrogen market but also for Nordic companies that can contribute to the hydrogen ecosystem in the Netherlands. 

Some general key points from the market study:

• The Nordics offer a unique opportunity for Dutch companies to collaborate in the development of a sustainable hydrogen economy, thanks to their abundant renewable energy resources and the Nordic countries’ ambitious carbon neutrality goals.
• The Netherlands and the Nordics can collaborate on technological innovation and knowledge exchange building hydrogen value chains together.
• The Nordics are expected to have excess green hydrogen production in the coming years. This presents an opportunity for Dutch companies to import green hydrogen and its derivatives from the Nordics, potentially creating a valuable new market for both regions.
• The Nordics have a stable and long-lasting political environment, which translates into a business-friendly environment that is open, transparent, and conducive to collaboration.
• Collaboration between Dutch and Nordic companies presents a valuable opportunity to address global challenges, including reducing greenhouse gas emissions and transitioning to sustainable energy sources. This collaboration offers Dutch companies the chance to play a leading role in driving the global shift towards sustainability.
• Despite the vast potential for green hydrogen production in the Nordics, there are challenges to be overcome, for instance the need for extensive infrastructure development, high production costs and uncertainty of regulation. However, with the right partnerships and strategies in place, these risks can be mitigated and overcome.

Highlights for Sweden:

• The Swedish hydrogen value chain presents promising prospects for export and collaboration with Dutch companies. The demand in infrastructure, electrolyser components, and research knowledge provide opportunities for Dutch companies in the Swedish hydrogen economy. 
• Sweden has several strengths in the hydrogen industry that Dutch companies can benefit from. These opportunities include abundant renewable energy sources, strong government support with ambitious targets, advanced research and development, a strong automotive industry, and a well-established infrastructure with experience in fuel-cell production.
• Dutch knowledge on gas and pipeline technology as well as new distribution alternatives can be beneficial for Sweden. Although there is currently no electrolyser production in Sweden, it is considered the preferred method for hydrogen production in the future. Dutch electrolyser producers and electrolyser component manufacturers have opportunities in Sweden.
• Sweden aims to understand new market needs and extensive research knowledge in the Netherlands could help creating new business models for hydrogen.
• The increased use of electricity for electrolysers opens potential for increased investments in wind power, exports, and new jobs.

Highlights for Norway:

• Norway has strong expertise and experience in hydrogen technologies, with several internationally recognized companies and investments in production facilities, transport solutions, and renewable energy.
• Norway has the potential to become a significant exporter of both blue and green hydrogen. Dutch hydrogen sector is well-positioned to benefit from Norway’s hydrogen exports both by providing solutions and expertise in production, transport and storage and to use hydrogen to decarbonize industrial processes in the Netherlands.
• Norway has established itself as a leader in the manufacturing of electrolysers, which are critical components in the production of green hydrogen. In the Netherlands in particular, a lot of expertise is available – including from other industrial markets – to improve the production process and to increase the quality and efficiency of electrolysers.
• The transport sector is particularly interesting in Norway, and especially in the maritime segment. Dutch strengths lie in heavy-duty transportation and Dutch companies can leverage their technical know-how and expertise to collaborate with Norwegian businesses and research institutions to create a value chain for maritime and road transport fueled by Hydrogen.

Highlights for Iceland:

• Due to the stable availability and affordability of energy, Iceland has the potential to attract projects that can take advantage of this energy source, making it an attractive location for industrial projects, such as the aluminium industry.
• Iceland has the potential to become energy independent and self-reliant through the production of cost- competitive green e-fuels. Iceland may even export them to Europe. Also, Iceland has potential for exporting green hydrogen to other countries, particularly in Europe.
• Iceland has potential for partnerships and collaboration with other countries and companies in the hydrogen industry, which could provide opportunities for knowledge sharing and investment.

Highlights for Denmark:

• Denmark’s hydrogen economy is gaining momentum as the country aims to achieve carbon neutrality by 2050, which provides significant opportunities for Dutch companies to bring their expertise to the table. Dutch companies can provide their expertise in building hydrogen infrastructure, equipment for electrolysers, and off-take solutions to the Danish hydrogen market.
• Dutch companies can collaborate with Danish universities and research institutions to develop cutting-edge solutions that meet the rapidly growing market demand in the hydrogen economy. Denmark’s Hydrogen Valley, a cluster of companies and research institutions, and Hydrogen Denmark, can provide Dutch companies with a network and knowledge of the Danish hydrogen industry.
• There is room in the Danish value chain for innovative and sustainable solutions that can help the Danish hydrogen market to flourish from production to infrastructure to off-take. There are several investors for Power-to-X projects, highlighting the need of knowledge, sub suppliers, etc.
• The development of power-to-x-powered vehicles, particularly in the maritime and aviation sectors, presents a significant share of the off-take developments in Denmark and similarly opportunities for related technologies.
• Companies with innovative hydrogen applications, acting as an off-taker, could have opportunities to access the Danish market, as there will likely be more hydrogen production than consumption.

Highlights for Finland:

• Hydrogen plays an important role for Finland to achieve carbon neutrality by 2035.
• Finland aims to account for 10 percent of the EU’s clean hydrogen production.  
• The country has ambitious plans for (offshore) wind power production, offering ideal conditions to produce hydrogen. 
• Hydrogen is seen particularly important for decarbonizing industries.
• The Finnish government is committed to promoting wide-ranging innovations in the use of hydrogen in all sectors.
• Collaboration between the Netherlands and Finland can boost hydrogen innovation and development of the hydrogen industry in both countries. 
• Dutch companies can provide significant value in infrastructure development, safety, electrolyser equipment, and sharing experiences with successful hydrogen valleys.
• In particular, Dutch companies can offer valuable expertise in electrolyser technology, infrastructure design planning (pipelines, storage, and refuelling stations), and gas grid knowledge.

Contact 

Nordics region | business-related questions

Els Berkers – Regional Development Coach Nordics – els.berkers@minbuza.nl 

Embassy of the Kingdom of the Netherlands in Sweden | R&D and innovation-related questions 

John Dekker – Innovation Attaché – john.dekker@minbuza.nl

Embassy of the Netherlands to Norway and Iceland

Jorunn Skodje – Senior Policy Officer – jorunn.skodje@minbuza.nl 

Embassy of the Kingdom of the Netherlands in Denmark3

Atle Sommer – Senior Policy Officer, Economy and Trade – atle.sommer@minbuza.nl

Embassy of the Kingdom of the Netherlands in Finland

Miina Ojanperä – Senior Economic Officer – miina.ojanpera@minbuza.nl