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 Green Hydrogen Systems, a Danish manufacturer of modular alkaline electrolyzers, reported its full-year 2022 results. The company reported revenue of DKK 10.4 million (USD 1.5 million) for the year, which is 2x the revenue in 2021 (DKK 5.2 million (USD 0.8 million). This was driven by the delivery of A90 electrolyzer units to customers in Norway and Sweden.
 
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 The company reported an operating loss of DKK 283 million (USD 40.6 million) for 2022, up by 73.6% YoY. This was due to an increase in employee costs (+75% YoY), and other operating expenses (+23.3% YoY) which include advertising costs, admin costs, etc.&nbsp;
 
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 Green Hydrogen System&rsquo;s guidance for the fiscal year 2023 expects revenue to range between DKK 120 million and DKK 160 million (USD 17 million&ndash;23 million). Adjusted EBITDA loss is projected to range between DKK 240 million and DKK 210 million (USD 34 million&ndash;30 million).&nbsp;
 
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 Key highlights for 2022:
 
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 Delivery and revenue recognition of the company&rsquo;s first A90 electrolyzer units.
 
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 The company delivered 5+ megawatts of new electrolyzers to customers across the European region.
 
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 Delivery of the X-Series prototype is targeted for March 2023, with production to follow from Q2 2023 onwards.
 
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 <a href="https://www.greenhydrogensystems.com/news/green-hydrogen-systems-annual-report-2022">
 Press release
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