Statkraft, a hydropower company, fully owned by the Norwegian state, Foresight, a private equity and venture capital business, and Progressive Energy, an engineering consultant firm, formed a joint venture Grenian Hydrogen, a provider of electrolytic hydrogen with power contracted from renewable generation. Financial terms were not disclosed. “We’ve been working with Statkraft and Foresight for 18 months now and it’s great to formalise the company and launch our new brand. The diverse skills of each partner means that Grenian brings something unique to industrial hydrogen users, which is not offered by the wider market," Adam Baddeley, Grenian Hydrogen Chief Executive.