Bankruptcy is looming at electrolysis producer Green Hydrogen Systems. The company filed for restructuring in court on March 10. The purpose of the restructuring is "to investigate whether a basis can be created for all or part of the company's activities to continue, including a possible sale of the company's assets in whole or in part," the company said in a statement on March 10.
Now the restructuring will have an impact on a large part of the employees in the Kolding-based company. The company issued a statement on Wednesday stating that as a result of the restructuring, it will carry out "a significant reduction in the company's workforce".
In an email to DOI.dk, Lene Rode, Head of Communications and External Relations at Green Hydrogen Systems, elaborates:
"We are working closely with the restructuring administrator to find the best solution for Green Hydrogen Systems and our employees. As part of that process, we need to streamline the company further and say goodbye to around 90 talented colleagues," the email reads.
With the layoffs, Green Hydrogen Systems will go from 323 to 233 employees. Lene Rode emphasizes that this is not an initiative taken without thought, but a necessity for the company's survival.
"This is not a step we take lightly, and we are doing our absolute best to ensure the most proper and thorough process possible. At the same time, we remain dedicated to serving our customers. Our team continues to prepare plants for operation, deliver spare parts and provide ongoing support to ensure continued service."
Green Hydrogen Systems' annual accounts for 2024 were due to be published last week. However, this has been postponed due to the reconstruction work.
Text, graphics, images, sound, and other content on this website are protected under copyright law. DK Medier reserves all rights to the content, including the right to exploit the content for the purpose of text and data mining, cf. Section 11b of the Copyright Act and Article 4 of the DSM Directive.
Customers with IP agreements/major customer agreements may only share Danish Offshore Industry articles internally for the purpose of handling specific cases. Sharing in connection with specific cases refers to journaling, archiving, or similar uses.
Customers with a personal subscription/login may not share Danish Offshore Industry articles with individuals who do not themselves have a personal subscription to Danish Offshore Industry.
Any deviation from the above requires written consent from DK Medier.
