Norwegian company Nel has signed a memorandum of understanding (MoU) with South Korean power generation company Korea Hydro & Nuclear Power (KHNP) to collaborate on clean hydrogen production technology.
As disclosed, the partnership will leverage Nel’s expertise in alkaline electrolysis with KHNP’s experience in nuclear power to develop hydrogen technology. In the future, the parties intend to expand into global clean hydrogen markets.
To note, KHNP specializes in nuclear and hydroelectric energy to support South Korea’s electricity needs and carbon neutrality goals. It operates a diverse range of electric-generating power plants in the country, including nuclear, hydroelectric, renewable energy and fuel cells.
The company has been conducting a nuclear clean hydrogen production demonstration project as a national research and development (R&D) project since April 2024.
In October 2024, KHNP inked an MoU with U.S.-based FuelCell Energy to jointly pursue hydrogen energy business initiatives. Specifically, the partnership will focus on the development and implementation of advanced energy solutions using FuelCell Energy’s solid oxide electrolysis hydrogen platform and KHNP’s nuclear power plants within the scope of relevant laws and regulations.
As for Nel, it is, reportedly, actively working on several concrete bids, including projects where it is currently undertaking paid front-end engineering design (FEED) studies. The company also sees good near-term opportunities to sell containerized proton exchange membrane (PEM) systems. Additionally, further development of current and next-generation technology platforms is on its agenda.
It is, however, important to mention that at the beginning of 2025, Nel decided to temporarily halt production at the alkaline electrolyzer production facility in Herøya, Norway. The decision follows lower-than-expected order intake in 2023 and 2024, Nel revealed, adding that as a result, it has a limited need to produce new alkaline electrolyzer equipment in the near-term and will adjust its production and organizational capacity correspondingly.
To remind, in 2024, Nel pronounced itself as a company solely dedicated to developing and delivering electrolyzers to produce renewable hydrogen. At the same time, the company’s former fueling division was spun out and listed on the Oslo Stock Exchange as Cavendish Hydrogen.