Nel ASA Receives EUR 135 Million Grant for Next-Gen Electrolyser Technology Industrialization in Norway
Key Ideas
- Nel ASA, through its subsidiary Nel Hydrogen Electrolyser AS, has secured a EUR 135 million grant from the EU Innovation Fund for industrializing its next-generation pressurized alkaline technology in Herøya, Norway.
- The new technology aims to drive down the cost of green hydrogen production and has potential for significant advancements in cost and performance for renewable hydrogen.
- The grant will support a phased build-out of production with an initial capacity of 1-2 GW, with plans for further expansion up to 4 GW, contingent on successful testing and market acceptance.
- Nel ASA, with a history dating back to 1927, is recognized as a prominent player in hydrogen electrolyser technology, specializing in Alkaline and PEM technology for the production of renewable hydrogen to enable the decarbonization of various industries.
Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA, has been awarded a grant of up to EUR 135 million from the EU Innovation Fund for industrializing its next-generation pressurized alkaline technology in Herøya, Norway. The technology, currently in the prototype stage, aims to reduce the cost of green hydrogen production and improve performance significantly. The grant will facilitate the phased build-out of production capacity, starting with 1-2 GW at Nel's facility in Herøya, with plans for expansion up to 4 GW. The success of the project hinges on achieving positive results in the current prototype and pilot stage testing, along with market acceptance of the new technology. Nel ASA, established in 1927, is a key player in hydrogen electrolyser technology, focusing on Alkaline and PEM technology for renewable hydrogen production to support the decarbonization of industries like transportation, refining, steel, and ammonia.