Nel ASA Spins Off Cavendish Hydrogen for Specialized Hydrogen Fuelling Equipment
Key Ideas
- Nel ASA has spun off its fuelling division into Cavendish Hydrogen, focused on developing hydrogen fuelling equipment for heavy-duty vehicles.
- Nel will now exclusively focus on developing and delivering electrolysers, investing in next-gen pressurized alkaline and PEM technologies.
- The CEO of Nel, Håkon Volldal, expressed confidence in Cavendish's potential success and wished them luck, with the transfer of all fuelling assets completed in May.
- Nel, with approximately 450 employees in Norway and the US, aims to leverage its century-old experience in electrolysers to maintain a leading position in the hydrogen industry.
Nel ASA, a renowned company in the hydrogen industry, has announced a strategic move by spinning off its fuelling division to form Cavendish Hydrogen. This new entity will specialize in hydrogen fuelling equipment for heavy-duty vehicles, while Nel will now solely dedicate itself to developing and delivering electrolysers. The company is set to invest significantly in advancing PEM and alkaline electrolyser technologies, particularly focusing on next-generation pressurized alkaline and PEM solutions. With a strong foundation built on decades of experience and a global track record, Nel aims to continue its legacy as an industry leader. The CEO, Håkon Volldal, expressed optimism about Cavendish Hydrogen's prospects, highlighting its competent team and diverse customer base. The transfer of all fuelling assets to Cavendish in May marks a significant step towards establishing market leadership in distinct hydrogen-related fields. With around 450 employees across Norway and the US, Nel is poised to drive innovation and maintain its position at the forefront of hydrogen technology development.