Topsoe and New Energy Risk have formed a partnership to de-risk solid oxide electrolyzer cells (SOEC) for green hydrogen projects. New Energy Risk will provide insurance coverage for Topsoe's SOEC hydrogen electrolyzer products, enhancing bankability and enabling lower costs of capital. The partnership aims to accelerate the deployment of green hydrogen projects by improving project timelines and financing certainty. The insurance coverage includes performance protection during commissioning, ramp-up, and operations, bolstering customer and investor confidence. Topsoe has made significant progress with the completion of its SOEC factory in Herning, Denmark, set to start commercial supply in Q1 2025. Additionally, collaborations with ABB and Fluor seek to optimize future factory construction for efficient SOEC deployment. The partnership reflects a positive sentiment towards hydrogen as a key player in carbon emission reduction and renewable energy production.