Nel and RIL's Alkaline Electrolyzer Partnership in India
Key Ideas
- Nel Hydrogen Electrolyser and Reliance Industries Limited have signed a technology licensing agreement for alkaline electrolyzers in India, aiming for global manufacturing.
- The partnership includes collaboration on R&D, cost optimization, and equipment procurement, boosting the competitiveness of the alkaline technology platform.
- Nel's President expressed excitement, highlighting the milestone in Nel's history and the revenue potential from accessing the rapidly growing Indian market.
- Reliance Industries Limited's focus on new energy value chains, with green hydrogen being vital, aligns with Nel's expansion into India and other global projects.
Nel Hydrogen Electrolyser, a subsidiary of Nel ASA, and Reliance Industries Limited (RIL) have finalized a deal granting RIL an exclusive license to manufacture Nel's alkaline electrolyzers in India for global captive use. The agreement also entails joint efforts in enhancing performance, reducing costs, and implementing research and development initiatives to upgrade the alkaline technology. Additionally, Nel can procure equipment from RIL for its projects. This partnership aims to combine Nel's technology platform with RIL's execution capabilities for mutual success. Håkon Volldal, Nel's CEO, emphasized the importance of this agreement in Nel's trajectory and revenue prospects from the Indian market. RIL's strategic focus on developing a multi-GW new energy value chain, where green hydrogen plays a crucial role, complements Nel's endeavors. Noteworthy projects like supplying electrolyzer equipment to Samsung C&T Corporation Engineering & Construction Group for a green hydrogen production venture in South Korea and collaborating with Hyd’Occ in France further showcase Nel's global footprint and technological expertise.