Backed by ENOVA: LH2 Shipping secured new funds totalling NOK 299 million together with ship owner and operator Strand Shipping Bergen
Press Release
LH2 Shipping is continuing to lead the way for eliminating CO₂ emissions at sea, having received additional support from Enova for the construction of liquid hydrogen (LH₂) powered bulk carriers, number three and four.
World’s first two LH₂ bulk carriers, also by LH2 Shipping, received soft funding from Enova earlier this year. This major grant, totalling more than half a billion NOK for the four ships, marks a strong signal for national and global maritime decarbonisation in this segment of the maritime industry where emissions can be achieved at scale.
The two companies team up on the NordBulk Project to strengthen their long term, ambitious, decarbonisation agenda.
NordBulk by LH2 Shipping AS, powered by liquid hydrogen (LH₂), providing zero emission maritime operations / eliminating CO₂ emissions from maritime operations.
Photo credit: LH2 Shipping AS.
Strand Shipping Bergen— part of Vertom Group BV — is playing an active role in Vertom’s ambitious decarbonisation agenda, combining local market presence with Vertom’s modern vessel programme and long-term customer partnerships, driving efficient coastal logistics while prioritising rapid emissions reductions.
Joergen Brandt, Managing Director, Strand Shipping Bergen.
Photo credit: Strand Shipping Bergen AS.
“Strand Shipping Bergen AS is fortunate to be part of the forward-thinking Vertom Group BV, and this project represents a new chapter in the pursuit of an environmentally sustainable future in shipping, as well as a significant step toward achieving zero emissions. We look forward to continuing our collaboration on this project together with LH2 Shipping”, states Joergen Brandt, Managing Director of Strand Shipping Bergen.
Vertom operates a modern fleet of over 100 vessels, ranging from around 1,500 to 12,000 DWT, across short-sea and multipurpose trades. Strand Shipping Bergen, as part of the Strand Shipping Bergen Norway/Vertom cooperation, has access to the full Vertom fleet (117 vessels in total across the combined group).
"Strand Shipping Bergen with Vertom support is a significant player in short sea shipping, and our combined maritime experience and shared ambitions to develop and offer future-oriented shipping solutions enable us to take important steps to build and operate climate-friendly transport alternatives. Liquid hydrogen is a proven technology aboard M/F Hydra, which is being built upon in the transition to zero emissions in the bulk carrier sector, and we are pleased to collaborate with a leading company like Strand Shipping Bergen," says CEO of LH2 Shipping, Dr. Ivan Oestvik
Dr. Ivan Oestvik, CEO / Owner, LH2 Shipping
Photo credit: LH2 Shipping AS / Peter Tubaas, Vestland Media AS.
The ENOVA award to the NordBulk Project is part of the support program “Hydrogen in vessels”.
“We are very pleased with this award and would like to thank Enova for the support so far from the pre-project phase and now into the construction phase for the first four ships in this segment. This enables us to accelerate the development of emission-free vessels in operation, whilst also ensuring ship operators and cargo owners staying ahead of increasingly strict emissions”, says Oestvik.
Zero-emission shipping
LH2 Shipping has been developing ship concepts for many years and is now stepping up its activities and is currently developing a wide range of zero-emission ship concepts. This creates both a market for LH₂ production and shows that zero-emission maritime transport is both possible and profitable in the long term. These projects are groundbreaking and will accelerate the transition to carbon-free maritime transport – without compromising good operations or safety, while the ships offer range at sea.
Shortsea shipping has extended experience in the combination of fuel cells and batteries, where the two technologies are working together in hybrid systems where different routes and ship types provides different system combinations. Some routes can be operated 100% on batteries whereas hydrogen driven fuel cells are added where range and charging issues are dominant
Taking leadership, advancing proven technology
Investment in zero-emission ship development and operations demonstrates a clear commitment by Strand Shipping Bergen and LH2 Shipping to take decarbonisation leadership and setting a global example for the green transition at sea.
With foreseen charges for CO₂ emissions, the EU ETS, Fuel EU Maritime and upcoming, yet delayed, IMO scheme, the cost gap between fossil fuels and alternative fuels is minimised. The business case of zero-emission vessels, and their operations, is expected to improve significantly, especially after 2030 when the CO₂ emission fees are further increased.
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LH2 Shipping AS is a leading innovator in zero-emission shipping, dedicated to enabling the transition to sustainable sea transport.
Headquartered in Bergen, Norway, the company develops and delivers liquid hydrogen (LH₂)-powered solutions for a wide range of vessel types — from general cargo and bulk carriers to offshore supply vessels and cruise.
Founded in 2023, and with extensive experience from maritime industries, serving as Project Lead for developing, building, commissioning and set to sail the world's first LH₂ powered vessel, the ferry M/F Hydra (Norled AS).
LH2 Shipping is committed to pioneering practical, scalable, and proven green technologies that enable cargo- and shipowners meet tomorrow’s emission requirements today.
Learn more at LinkedIn: https://www.linkedin.com/company/lh2-shipping
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Strand Shipping Bergen AS is part of the Vertom Group.
From our office in Bergen, we operate independently with our own fleet; however, as a member of the Vertom Group, we also have full access to a combined fleet of approximately 130 vessels.
This enables us to work closely with brokers and charterers, providing tailored transport solutions for everything from small-scale inquiries to large Contracts of Affreightment (COAs).
Learn more at website: https://www.strandbergen.no/
and LinkedIn: https://www.linkedin.com/company/strand-shipping-bergen-as/
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LH2 Shipping is Project Owner and Project Lead for the NORDBULK Project.
The project will develop, build and commission 2 pcs. 7700 dwt bulk carriers for short sea shipping with the carriage of bulk/general cargo mainly between North of Norway and Continent/Baltic.
Norwegian port calls constitute 67% of the total, where 74% of the sailing time is in Norwegian waters.
The ships will use liquid hydrogen (LH2) as the main fuel source and operate 100 % emission free year-round.
Bunkering of LH2 will take place in North of Norway.
The ships will have a length of 108.2m and a width of 18.1m. The onboard hydrogen systems will consist of 17t LH2 storage capacity and 3,5MW PEM fuel cells.
A battery pack of approximately 1,5 MWh will be installed to support the fuel cells.
The ships will be arranged to use shore power where available for loading and unloading operations. A standby diesel generator package will also be installed, where the ships can sail on diesel/biodiesel if the LH2 supply fails, or is not in place in time when the ships are delivered from the shipyard.
The ships will be designed with an efficient hull, propulsion and energy system solution that will have a minimum of 30% lower energy requirements compared to current ships in the same segment.
Included in this saving are two wind sails planned to be installed on the stern of the ship, which will contribute to 13% annual energy savings. Other energy-saving technologies are included in the design with regard to propulsion, structural weight and an efficient energy management system.
The project team consists of LH2 Shipping and Strand Shipping Bergen (owned by Vertom). Grieg Shipbrokers is responsible for the contract with the shipyard for the construction of the ship.
LH2 operation has been demonstrated to be a safe and robust operation with the pilot project M/F Hydra. The cargo ships scale this technology to short sea shipping operations, and will, in addition to efficient operation, eliminate CO2 emissions in shipping, which both meets future CO2 emissions requirements within shipping and provides added value for cargo owners in relation to the requirements that will come for their Scope 3 reporting.
With expected increases in CO2 emissions fees, the EU ETS, together with the FuelEU Maritime arrangement, is expected to minimize the cost gap between traditional and alternative fuels. The value of zero-emission vessels, and their operation, is expected to increase significantly, especially after 2030.
In June 2025, LH2 Shipping was granted a total of NOK 238 million from ENOVA for The HYDROBULK project, to develop, build and commission two 5000 dwt gearless bulk carriers for short sea shipping between Norway/Sweden and the Continent.
The continued support from Enova to the NordBulk Project proves a strong ambition to realise a maritime energy shift and is at strong signal on the Norwegian strategic ambitions towards eliminating CO2 emissions.