Cavendish Hydrogen raises NOK 52m from Austrian pressure equipment firm

Austrian high-pressure equipment manufacturer BHDT will take a 15% stake in Cavendish Hydrogen in an NOK 52m ($5.6m) share deal, as it eyes entry into the hydrogen sector.

The deal will see the Denmark-based hydrogen refuelling firm issue almost six million new shares to BHDT at NOK 8.73 ($0.94) per share.

Alongside the investment, the pair have signed commercial and R&D agreements, although details of the work remain undisclosed.

However, Cavendish CEO Robert Borin said the firms saw “significant opportunities” to accelerate innovation.

BHDT produces high-pressure equipment and components for petrochemical applications. CEO Michael Simml said the investment came as the firm looked to establish hydrogen systems as a “key pillar” of its business.

The investment will be a welcome injection for Cavendish, which reported revenues of just €1.9m ($2.23m) in Q4 2025, amid a “challenging period” for the hydrogen mobility market.

However, 2026 has seen it awarded a up to €5m ($5.9m) for constructing a station in Germany alongside Nowegian Everfuel, and a more recent €1.4m ($1.6) contract for a in Northwest Europe in collaboration with Mesure Process.