Nel ASA Secures First Hydrogen Fueling Station Project for 2026 Winter Olympics in Italy
Key Ideas
- Nel ASA's subsidiary of Cavendish Hydrogen has received a purchase order from Alperia Greenpower SRL for hydrogen fueling equipment in Bruneck, Italy.
- The hydrogen fueling station project aims to support light- and heavy-duty fuel cell electric vehicles during the 2026 Winter Olympics in South Tyrol.
- The contract includes a 2-year service and maintenance agreement and is valued at around EUR 3.8 million, with the station set to be operational by the second half of 2025.
- Nel is also considering a potential spin-off of its Hydrogen Fueling activities under the name Cavendish Hydrogen, subject to a decision by Nel to complete the spin-off by the end of the second quarter of 2024.
Nel ASA, through its subsidiary Cavendish Hydrogen, has secured a significant purchase order from Alperia Greenpower SRL for hydrogen fueling equipment in Bruneck, South Tyrol, Italy. This project marks Nel's first H2Station™ installation in Italy and will cater to light- and heavy-duty fuel cell electric vehicles, particularly to support transportation needs during the 2026 Winter Olympics. The contract, valued at approximately EUR 3.8 million, also includes a 2-year service and maintenance agreement. The hydrogen fueling station is scheduled to be operational by the second half of 2025. Additionally, Nel is exploring the possibility of spinning off its Hydrogen Fueling activities into a separate entity named Cavendish Hydrogen, with plans to distribute shares as dividends to Nel's shareholders if the spin-off proceeds. This initiative aims to enhance Nel's focus on hydrogen-related endeavors and contribute to the advancement of sustainable energy solutions.