Nel ASA is a

Norwegian Norwegian, Norwayan, or Norsk may refer to: *Something of, from, or related to Norway, a country in northwestern Europe * Norwegians, both a nation and an ethnic group native to Norway * Demographics of Norway *The Norwegian language, including ...

company founded in 1927 and based in Oslo. Nel is a global company providing solutions for the production, storage and distribution of hydrogen from renewable energy sources. Nel is listed in the

OBX Index The OBX Index is a stock market index which lists the 25 most liquid companies on the main index of the Oslo Stock Exchange in Norway. All stocks on the OBX list can be traded with options and futures. The companies on the OBX list are rotated tw ...

of the

Oslo Stock Exchange Oslo Stock Exchange ( no, Oslo Børs) (OSE: OSLO) is a stock exchange within the Nordic countries and offers Norway’s only regulated markets for securities trading today. The stock exchange offers a full product range including equities, der ...

. the largest shareholder is Clearstream Banking S.A. with a stake of 44.81%.

Group companies

Since 2015, the company has also included the Danish hydrogen filling station manufacturer H2 Logic, and since 2017 the American electrolysis specialist Proton On Site. Together with PowerCell Sweden and Hexagon Composite, Nel founded the Hyon joint venture in September 2017 with the aim of establishing fuel cell-powered vehicles in the maritime sector in particular. Nel has been a member of the H2Bus consortium since June 2019. The target is the deployment of 1,000 hydrogen fuel cell buses in Europe.

History

The company started in 1927. In 1940, the world's largest water electrolysis plant was built in Rjukan, Norway, with a total capacity of more than 30,000 Nm3/hour of hydrogen from hydropower. In 1988, Nel launched the world's first electrolyzer to offer asbestos-free alkaline electrolysers. H2 Logic A/S, subsidiary of NEL ASA, has executed a binding technology transfer agreement with Mitsubishi Kakoki Kaisha, Ltd. (MKK), member of the Mitsubishi Group companies, in 2015. Nel will set up at least 20 hydrogen refuelling stations in Norway by 2020. Nel is currently involved in several projects worldwide, including the commissioning of the first hydrogen-powered train in

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as part of the H2 West Coast Consortium. In February 2019, it became known that a framework agreement for

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had been concluded with

Hyundai Motor Company Hyundai Motor Company, often abbreviated to Hyundai Motors ( ) and commonly known as Hyundai (, ; ), is a South Korean multinational automotive manufacturer headquartered in Seoul, South Korea, and founded in 1967. Currently, the company o ...

for the supply of 60 - 80 MW of a total of 1,000 expected trucks in the first phase and hydrogen required for other applications. In

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, NEL is involved in a power-to-gas (solar power to hydrogen) project. Another major project is planned in partnership with the American start-up Nikola Motor Company, a manufacturer of hydrogen-powered trucks. In the coming years, the company plans to set up or expand a hydrogen infrastructure (filling stations and electrolysers) in the

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. A cooperation agreement with

Yara International Yara International ASA is a Norwegian chemical company. It produces, distributes, and sells nitrogen-based mineral fertilizers and related industrial products. Its product line also includes phosphate and potash-based mineral fertilizers, as well ...

was announced in August 2019. This is a

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project for

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. NEL contributes its self-developed pressurized alkaline electrolyzer, which, with the help of electric current, produces a chemical reaction, a material conversion, which is needed for fertilizer production. Nel ASA subsidiary Nel Hydrogen Fueling received an order from the "Touraine Vallée de l'Indre" urban community in France in 2021 to supply an H2Station™ hydrogen refueling station. The total value of the order is approximately one million euros.Hydrogen Industry News & Market Intelligence on September 28, 2021: "Nel Receives Purchase Order from “Touraine Vallée de L’indre (CCTVI)” for Hydrogen Fueling Station in The Region of Tours France"
Retrieved November 3, 2021

References

{{OBXList Manufacturing companies established in 1927 Norwegian companies established in 1927 Companies listed on the Oslo Stock Exchange