Nel ASA's subsidiary, Nel Hydrogen Electrolyser AS, has secured a significant €135 million grant from the EU Innovation Fund to propel the industrialization of its next generation pressurized alkaline electrolyser technology. This funding validates Nel's pioneering efforts in revolutionizing hydrogen production by focusing on enhancing efficiency and adaptability while driving down costs. The grant will predominantly support expanding Nel's Herøya facility in Norway to potentially produce 4 GW annually, emphasizing market readiness through rigorous testing. Nel's technology stands out for its economic viability compared to traditional models, offering scalability and performance benefits without relying on costly platinum group metals. With a legacy of expertise in electrolyser development, Nel is well-positioned to lead the green hydrogen sector globally. The partnership with the EU Innovation Fund not only provides financial support but also accelerates Nel's contribution to Europe's climate goals by promoting commercial viability and widespread acceptance of green hydrogen. By reshaping the landscape of green hydrogen production through relentless innovation, Nel is poised to play a crucial role in decarbonizing key sectors and shaping the future of sustainable energy.