Nel Hydrogen Receives EUR 135 Million Grant for Next-Generation Technology Industrialization
Key Ideas
- Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA, has secured a EUR 135 million grant from the EU Innovation Fund for industrializing its next-generation alkaline technology.
- The pressurized alkaline technology, under development for over five years, is currently in the prototype phase with promising outcomes.
- The planned industrialization is set to take place in Herøya, Norway, to drive down the cost of green hydrogen production.
- The grant, supported by Enova SF, will facilitate the phased build-out of production facilities for Nel's innovative technology.
Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA, has been granted up to EUR 135 million from the EU Innovation Fund to support the industrialization of its next-generation pressurized alkaline technology. This technology, which has been under development for more than five years, is currently in the prototype phase and has shown promising results. The grant will aid Nel in bringing this innovative pressurized alkaline technology to market by facilitating the phased build-out of production facilities in Herøya, Norway. Håkon Volldal, Nel's President and CEO, expressed excitement about the grant, emphasizing how it will help drive down the costs associated with green hydrogen production. The support from Enova SF, the Norwegian national contact point for the EU Innovation Fund, further validates the potential of Nel's technology and its contribution to advancing clean energy solutions.