Post #72: Virtual postcard from Oslo

With severe travel restrictions still in place, your author has sadly not had the chance to travel to Oslo recently; there have been no opportunities to visit…

Post #72: Virtual postcard from Oslo

With severe travel restrictions still in place, your author has sadly not had the chance to travel to Oslo recently; there have been no opportunities to visit the Vigeland Sculpture Park, Viking Ship Museum, Arkershus Fortress or anything similar. However, he was there in spirit – along with around 400 other people – yesterday, attending the Norwegian Hydrogen Conference, an event arranged by (an industry body) and hosted entirely virtually.

Eight hours of online presentations provided a fascinating insight into key developments in the hydrogen industry. Presenters comprised a broad range of stakeholders including politicians (both leading parties in Norway were represented), industry players, (across multiple sectors including energy and transport) consultants, analysts and lawyers. If there was one clear consensus that emerged from the event then it was that hydrogen has a crucial role to play as a future fuel in a low (or zero) carbon world.

Regardless of the end-market use for hydrogen (and heavy-duty trucking seems the most logical at present), the key challenge is how to scale up the industry. Consensus at the conference seemed very much to be of the view that hydrogen fuel technology is where solar was a decade or so ago. Falling costs can help drive industry growth although the perennial problem remains whether to build infrastructure before the demand for new solutions exists, or vice versa.

From an industry perspective, both Toyota and Iveco made compelling cases for hydrogen fuel cell electric vehicles (FECVs). Toyota described a process whereby vehicles would transition over time from hybrid to battery-operated to FECV. Toyota highlighted how FECV costs had already fallen by over 95% since its first prototype models a decade ago, yet the industry was still just at “stage one.” Meanwhile, Iveco is a key partner to Nikola (a leading FECV truck business based in the US), which already has an order book for its products equivalent to $10bn. Per Iveco, by bringing down the total cost of vehicle ownership through an integrated hydrogen infrastructure (vehicles and charging stations), Nikola is driving “end-to-end disruption.”


The document is provided for information purposes only and does not constitute investment advice or any recommendation to buy, or sell or otherwise transact in any investments. The document is not intended to be construed as investment research. The contents of this document are based upon sources of information which Heptagon Capital believes to be reliable. However, except to the extent required by applicable law or regulations, no guarantee, warranty or representation (express or implied) is given as to the accuracy or completeness of this document or its contents and, Heptagon Capital, its affiliate companies and its members, officers, employees, agents and advisors do not accept any liability or responsibility in respect of the information or any views expressed herein. Opinions expressed whether in general or in both on the performance of individual investments and in a wider economic context represent the views of the contributor at the time of preparation. Where this document provides forward-looking statements which are based on relevant reports, current opinions, expectations and projections, actual results could differ materially from those anticipated in such statements. All opinions and estimates included in the document are subject to change without notice and Heptagon Capital is under no obligation to update or revise information contained in the document. Furthermore, Heptagon Capital disclaims any liability for any loss, damage, costs or expenses (including direct, indirect, special and consequential) howsoever arising which any person may suffer or incur as a result of viewing or utilising any information included in this document. 

The document is protected by copyright. The use of any trademarks and logos displayed in the document without Heptagon Capital's prior written consent is strictly prohibited. Information in the document must not be published or redistributed without Heptagon Capital's prior written consent. 

Heptagon Capital LLP, 63 Brook Street, Mayfair, London W1K 4HS
tel +44 20 7070 1800
fax +44 20 7070 1881
email [email protected] 

Partnership No: OC307355 Registered in England and Wales Authorised & Regulated by the Financial Conduct Authority 

Related Insights

Featured Insights
Featured Insights22 July 2021

Season 3, Post 29: Quiz time

Your one and only question is the following: what do electric vehicles and plant-based burgers have in common? The answer: they’re both getting better the whole time. As improvements to these products occur, so adoption levels should increase. This intriguing analogy was made to us by the Chief Executive of Meatless Farm, Morten Toft Bech, […]

Learn more
Featured Insights
Featured Insights15 July 2021

Season 3, Post 28: The magic of mushrooms

Mycelium-tech could be the next big thing. You might think you are familiar with the humble mushroom. Fried, they work well as a breakfast option, for example. Alternatively, they could perhaps be chopped into a pasta dish or salad. However, when you buy mushrooms in your local store or – even better – see them […]

Learn more
Featured Insights
Featured Insights06 July 2021

Season 3, Post 27: Take a trip on the hyperloop

Imagine being able to get from central London to Edinburgh in less than an hour, or from downtown New York to San Francisco in fewer than five. Think of all that extra time you would save. Travelling the former route by train currently takes close on four hours, while, a coast-to-coast US trip might require […]

Learn more

Get The Updates

Separated they live in Bookmarks right at the coast of the famous Semantics, large language ocean Separated they live in Bookmarks right


Sign up to our monthly email newsletter for the latest fund updates, webcasts and insights.