Norway-based Hexagon Composites CEO Jon Erik Engeset will step down as group president and chief executive officer.
The company will shortly commence a search process. Engeset will continue as CEO until the position is filled, following which he will continue to support the company in an advisory role, the company said in a news release.
Hexagon Group is a global manufacturer of Type 4 composite cylinders used for storing gas under high-and low-pressure.
The fundraise will enable ClearSky Global to commercialize three facilities, which use a technology that converts natural gas to lower carbon diesel and jet fuel.
Mitsubishi Heavy Industries has invested in the geologic hydrogen start-up.
A Houston-based natural hydrogen production technology firm has secured Series A funding for four spent oilfield pilot projects. Its aim is to produce hydrogen for 80 cents a kilogram.
A California-based IPP is considering burning hydrogen in the thermal plants it acquires, as well as in a portfolio of gas peaking assets it is developing in Texas and the western US.
The company is well capitalized following a $250m equity investment from Generate Capital and is now opportunistically reviewing an initial slate of project M&A offerings.
Monarch is moving forward with several green hydrogen projects in the Gulf Coast region, most notably a 500 MW project near Beaumont, Texas and a 300 MW project near Geismar, Louisiana.
