Norwegian company Nel has pronounced itself as a company solely dedicated to developing and delivering electrolyzers to produce renewable hydrogen.
Håkon Volldal, Nel’s CEO, said: “Nel has almost a century of experience developing electrolysers and has installed thousands of systems around the world. Building on our unparalleled track record, we will, from now on, spend one hundred percent of our capacity and hydrogen know-how on developing and delivering the most reliable and energy-efficient electrolysers.”
According to Volldal, at the same time, the company’s former fueling division was spun out and listed on the Oslo Stock Exchange as Cavendish Hydrogen.
Volldal sent his best wishes to his former colleagues, who now focus on developing hydrogen fueling equipment for heavy-duty vehicles: “Cavendish has a solid starting point with lots of relevant experience from the light-duty fueling market, a diverse and strong customer base, a competent organization and now also a dedicated board of directors. I am convinced they can succeed, and I wish them the best of luck.”
To note, Nel is developing its existing PEM and atmospheric alkaline electrolyzers, and moreover, it is investing in next-generation pressurized alkaline and PEM technologies. The company has also secured funding from the US Department of Energy (DOE) to further develop its AEM electrolyzer technology.
In May 2024, Nel signed a technology licensing agreement with India’s Reliance Industries. Through this agreement, Nel claimed the company will gain access to a rapidly growing market and cater to Reliance’s captive demand for electrolyzers globally.
Nel pointed out that last year, the annual production capacity at the fully automated electrode manufacturing facility in Herøya, Norway, doubled from 500 MW to 1 GW. In addition, Nel is scaling up its annual production capacity to 500 MW at its PEM manufacturing facility in Wallingford, Connecticut, U.S. The company has also secured about $170 million in support from the US DOE and the state of Michigan for its planned gigafactory in Detroit, where Nel will manufacture next-generation PEM and pressurized alkaline electrolyzers.