Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA, has received a significant grant of up to EUR 135 million from the EU Innovation Fund for industrializing their next-generation pressurized alkaline technology in Norway. This technology, under development for over five years, is currently in the prototype stage, showing promising results. The grant supports the phased build-out of production capacity at Herøya, with initial plans for 1-2 GW and potential growth to 4 GW of pressurized electrolyser equipment. Nel aims to bring this innovative technology to market to reduce the cost of green hydrogen production. The support from the EU Innovation Fund, along with previous backing from local entities, accelerates Nel's path to market with an annual capacity build-out and phased investments. Success in testing and market adoption will play a crucial role in determining the final decision to commence industrialization.