© Green Hydrogen Systems
© Green Hydrogen Systems
Danish electrolyser maker Green Hydrogen Systems plans to file for insolvency after failing to secure additional financing.
The company revealed on Sunday (March 9) that it would file for in-court restructuring on Monday (March 10) to assess survival options, including asset sales.
Green Hydrogen Systems has struggled to stay afloat since last October, when it launched a drastic restructuring plan to slash costs by up to 50%.
The company warned that it could exhaust its cash reserves by H1 2025, estimating restructuring costs at up to DKK 230m ($33.5m) and planning a rights issue of DKK 300m ($43.7m).
Company…
