Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA, has signed a NOK 120 million contract with a high-quality North European energy company for alkaline electrolyser equipment. The contract also includes a front-end engineering and design (FEED) study related to the deliveries. This contract is for alkaline electrolyser equipment and related FEED, and it includes pass-through systems for steel and nickel price adjustments. By the end of 2023, the electrode production is anticipated to be completed.

Nel is a global hydrogen company, delivering optimal solutions to produce, store and distribute hydrogen from renewable energy. Since its origins in 1927, Nel has a history of development and continual improvement of hydrogen plants. The company’s hydrogen solutions cover the entire value chain from hydrogen production technologies to manufacturing of hydrogen fueling stations, providing all fuel cell electric vehicles with the same fast fueling and long range as conventional vehicles today.

In September 2022, Aquila Clean Energy EMEA raised finance for a EUR 1 billion construction facility with funding from the InvestEU programme. Over the next three years, this debt funding from European Investment Bank and others would help in the development and construction of the company’s renewable energy pipeline in Spain and Portugal.