Nel ASA Partners with Samsung C&T for Hydrogen Innovation

Nel ASA Announces New Contract with Samsung C&T

Nel Hydrogen Electrolyser AS, a prominent subsidiary of Nel ASA (NEL), has secured an impressive contract for 10 MW of alkaline electrolyser equipment valued at approximately EUR 5 million with Samsung C&T Corporation. This agreement represents a significant stride towards advancing hydrogen production methods, focusing specifically on a pioneering project that connects nuclear energy to hydrogen generation.

A Breakthrough in Hydrogen Production

The collaboration marks a vital step forward for both companies. Initially, Samsung C&T engaged with Nel ASA for a solar-powered off-grid project. With this new contract, they are embarking on launching a demonstration plant aimed at validating a commercial model for producing nuclear pink hydrogen. This innovative approach intends to harness excess nuclear power generation, turning a potential waste product into valuable energy, thereby enhancing overall energy efficiency.

Statements from Leadership

Håkon Volldal, President and CEO of Nel ASA, expressed excitement regarding this renewed partnership. He stated, "Samsung C&T has ambitious plans in the hydrogen industry, and we are pleased that we, for the second time now, have been selected to deliver the electrolyser for this exciting and meaningful project." Such sentiments highlight the shared commitment to promoting clean energy solutions.

Samsung C&T's Role in the Energy Transition

Samsung C&T is a key player in global engineering, procurement, and construction, with a firm commitment to expanding its footprint in the hydrogen sector. The company is presently deepening its portfolio in the energy transition, driven by several agreements focused on green hydrogen projects.

Innovative Technology and Production

This recent order encompasses a firm commitment to providing alkaline stacks and balance-of-stacks (BoS). The electrolysis technology will be produced at the Herøya facility in Norway, known for its state-of-the-art, fully automated electrolyser production line— a first in the world. This commitment ensures that Nel ASA remains at the forefront of hydrogen technology development and production.

Contact Information for Inquiries

For additional information, stakeholders can reach out to Kjell Christian Bjørnsen, CFO, at +47 917 02 097 or Wilhelm Flinder, Head of Investor Relations, at +47 936 11 350. They will provide more insights into the partnership and the technological innovations being pursued.

About Nel ASA

Nel ASA has a significant historical footprint, dating back to 1927, and is recognized as a leading hydrogen technology company on a global scale. They specialize in electrolyser technology aimed at producing renewable hydrogen and hydrogen fueling solutions tailored for vehicles. Their technology is central to facilitating a green hydrogen economy, thereby enabling significant decarbonization across numerous industries, including transportation, refining, steel production, and ammonia manufacturing.

About Samsung C&T

This engineering and construction giant boasts over 50 years of experience and focuses on three critical areas: commercial and residential buildings, civil infrastructure, and plant construction. Their exemplary projects include the iconic Burj Khalifa and the Petronas Towers, demonstrating their ability to undertake monumental endeavors successfully.

Frequently Asked Questions

1. What is the significance of the contract between Nel ASA and Samsung C&T?

The contract highlights a collaborative effort to advance hydrogen production technology, specifically leveraging nuclear energy for sustainable hydrogen solutions.

2. What is nuclear pink hydrogen?

Nuclear pink hydrogen refers to hydrogen produced using excess energy generated from nuclear power, aimed at utilizing energy that would otherwise be wasted.

3. Where will the electrolyser technology be produced?

The electrolyser technology will be produced at Nel ASA's state-of-the-art facility in Herøya, Norway, known for its fully automated production line.

4. How does this partnership contribute to a green hydrogen economy?

This partnership supports the transition to a green hydrogen economy by providing reliable technology that enables the production of renewable hydrogen, an essential component for decarbonizing many industries.

5. Who can be contacted for more information about this project?

For further details regarding the partnership and project specifics, Kjell Christian Bjørnsen and Wilhelm Flinder can be contacted directly.

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