SAXINGER advises BHDT on a strategic investment in Cavendish Hydrogen ASA.

SAXINGER advised the Austrian BHDT GmbH on its strategic investment in the Norway-listed Cavendish Hydrogen ASA. The transaction, announced on 5 May 2026, includes an equity participation as well as a long-term strategic cooperation in hydrogen technology.

Cavendish Hydrogen ASA, headquartered in Norway, is a globally leading provider of hydrogen refueling solutions for the mobility sector and is listed on the Oslo Stock Exchange (ticker: CAVEN). As part of the transaction, Cavendish will issue new shares to BHDT GmbH. Upon completion of the capital increase and satisfaction of customary closing conditions, BHDT will hold approximately 15% of the shares in Cavendish.

The investment serves to further strengthen Cavendish’s financial base and at the same time establishes a long-term industrial partnership between the two companies. The aim of the cooperation is to drive innovation in the hydrogen sector, scale joint solutions, and unlock additional market potential in the energy and industrial sectors.

In parallel with the investment, the parties have also entered into commercial cooperation and research agreements. These provide a framework for long-term collaboration in the areas of system integration, technology development, and industrial applications in the hydrogen market.

BHDT GmbH, based in Austria, specializes in high-pressure and ultra-high-pressure systems for the chemical and petrochemical industry and is pursuing the strategic expansion of its activities in the hydrogen sector through this transaction.

Cavendish is an internationally active provider of hydrogen refueling solutions for the mobility sector and covers the entire value chain from development and production to installation and maintenance. The company has subsidiaries in Denmark, Austria, and the United States.

The transaction team at SAXINGER was led by partners Gerald Schmidsberger and Bernhard Gonaus, who advised BHDT on all legal aspects of the cross-border transaction. The team also included partner Martin Gassler and associate Alexander Eisenköck.