Hydrogen fuelling solutions Cavendish Hydrogen ASA (OSE:CAVEN) and its subsidiaries are adjusting capacity to align with market demand, implementing global workforce reductions and pausing development of the High-Capacity Station, the company announced on Tuesday.

Market contraction for light-duty hydrogen fuelling stations in 2024 occurred faster than anticipated, while the heavy-duty fuelling market experienced delays, resulting in lower-than-expected order intake.

Approximately 45% of the company's full-time employees as of Q3 2024 will be affected by the organizational reductions, set to occur in Q1 2025. CEO Borin emphasized the importance of preserving cash to ensure readiness when market conditions improve.

Cost-cutting measures will prioritize fulfilling global customer commitments while pausing next-generation hydrogen fuelling station development. Development will resume only when a suitable customer or industrial partner is secured.