Samsung E&A has completed the acquisition of a 9.1 percent stake in Nel, a Norwegian hydrogen company, for approximately $32.8 million. This move marks Samsung E&A's strategic entry into the green hydrogen market, with the announcement of a partnership agreement with Nel. Nel, known for its water electrolysis technology since 1927, offers various solutions for hydrogen production using renewable energy sources. The company has a strong presence in the alkaline electrolysis market and is distinguished as the sole hydrogen company with PEM electrolysis technology. Samsung E&A aims to leverage this partnership to develop technology solutions for hydrogen production plants and intends to lead the market for green hydrogen plants. Additionally, the collaboration aligns with global efforts towards decarbonization and the increasing interest in sustainable aviation and marine fuels like ammonia and methanol. Samsung E&A's strategic focus on addressing societal challenges through technology is reflected in its mid-to-long-term strategy, which involves expanding into energy transition and eco-friendly businesses. By investing in hydrogen and carbon neutrality technologies and fostering high-value EPC orders, Samsung E&A aims to create a sustainable business model in the environmental solutions sector.