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A very interesting read.
https://news.financial/comments/goodbye-tesla-shares-now-bet-on-the-hydrogen-rally-2023-plug-power-first-hydrogen-nel-ballard-power
Nel ASA: Signs Capacity Reservation Agreement for 16 hydrogen fueling stations
(Oslo, Norway, 20 December 2022) Nel Hydrogen Inc., a subsidiary of Nel ASA, (Nel, OSE:NEL) has signed a Capacity Reservation Agreement (CRA) with an undisclosed US energy company, for the delivery of 16 hydrogen fueling stations to be deployed in the US.
In line with the agreement Nel will reserve capacity and start sourcing long-lead items for the fueling stations. The manufacturing of the equipment at Nel’s factory in Herning, Denmark, will commence when a final purchase order is signed.
“We look forward to providing our hydrogen fueling equipment to this important client and contributing to the deployment of hydrogen fueling infrastructure in the US", says Robert Borin, Senior Vice President, Nel Fueling Division.
The value of the CRA is about USD 7 million and is paid upon signature. The final purchase order (including the CRA fee) is estimated to be about USD 17 million, whereas a final agreement is expected to be made in H1 2023. Delivery of the fueling equipment is scheduled to commence in Q4 2023 and run throughout 2024.
I see Rolls Royce completed tests on a hydrogen powered jet engine this week...could be good news for NEL
Nel ASA: Nel and GM collaborate on cost competitive renewable hydrogen production
(Detroit, USA and Oslo, Norway, 16 November 2022) Nel Hydrogen US, a subsidiary of Nel ASA (Nel, OSE: NEL), has entered into a joint development agreement with General Motors (NYSE: GM) to help accelerate the industrialization of Nel’s proton exchange membrane (PEM) electrolyser platform. By combining GM's extensive fuel cell expertise and Nel's deep knowledge of electrolysers, the two companies are looking to enable more cost competitive sources of renewable hydrogen.
“General Motors is one of the global leaders in hydrogen fuel cell propulsion with more than 50 years of experience. We believe this collaboration will give us a competitive advantage in industrializing the production of our PEM electrolysers and further improving the efficiency of our technology,” said Nel’s CEO, Håkon Volldal.
“Adding Nel as a strategic collaborator is an important step to help us commercialize fuel cell technology. Electrolysis is key to creating consistent, clean sources of hydrogen to power fuel cells,” said Charles Freese, GM executive director, Global HYDROTEC. “Nel has some of the most promising electrolyser technology to help develop clean hydrogen infrastructure, and we believe our HYDROTEC fuel cell IP can help them get closer to scale.”
Nel was the first company in the world with a fully automated alkaline electrolyser production line. The next step will be to industrialize the production of its PEM electrolyser equipment in a similar way which will enable considerable technology advancement.
GM is developing and commercializing both HYDROTEC hydrogen fuel cell and Ultium battery technologies that deliver where it matters most: performance and cost. This is opening new revenue potential for GM as industries – including freight trucking, aerospace, power generation and locomotive – turn to GM to improve performance and reduce emissions.
“An automated production concept is key when scaling up and driving down cost on electrolyser technology. By utilizing the combined expertise of both companies, it will help to more quickly develop a green hydrogen technology that is competitive with fossil fuels,” said Volldal.
A PEM electrolyser and a fuel cell are largely based on the same principles. A PEM electrolyser uses electricity and water to produce hydrogen and oxygen, while a fuel cell reverses the process, using hydrogen and oxygen to produce electricity and water. As GM has made major steps and gained expertise with fuel cells, the two companies see substantial synergies by transferring this to Nel’s PEM platform.
Nel will be compensating GM for the development work and IP transfer on an ongoing basis and pay a license after successful commercialization dependent on how much of the end product is based on GM technology.
Nel ASA: Receives 40 MW electrolyser order from undisclosed North European client
(Oslo, 14 November 2022) Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA (Nel, OSE:NEL), has signed a NOK 120 million contract for alkaline electrolyser equipment with a high quality North European energy company. The contract also includes front-end engineering and design (FEED) study related to the deliveries.
This contract is for alkaline electrolyser equipment and related FEED, and includes pass-through mechanisms for steel and nickel price adjustments. Production of electrodes is estimated to be completed by end-2023.
Nel ASA: Share capital increase registered
(Oslo, 25 October 2022) Reference is made to the stock exchange announcement by Nel ASA (the "Company") on 21 October regarding the issuance of shares in Nel ASA. The share capital increase pertaining to the issuance of the 34,200 new shares has now been registered with the Norwegian Register of Business Enterprises. The Company's new registered share capital is 312,665,060.80, divided into 1,563,325,304 shares, each with a par value of NOK 0.20.
Nel is well underway finding a suited site in the US for PEM and Alkaline electrolyser production and expects to conclude the site selection process within H1 2023.
Revenues in Q3 2022 of NOK 183 million were flat from Q2 2022, while down from NOK 229 million in Q3 2021. This was mainly caused by reductions in both Fueling and for PEM electrolysers, while alkaline electrolysers experienced high growth. In Fueling the low order intake in previous quarters combined with supply chain challenges resulted in low sales of new fueling stations. For PEM electrolysers, the order intake has been good for smaller systems, but actual deliveries and revenue recognition has slowed down due to long lead times on certain components.
EBITDA decreased from same quarter last year. In addition to lower revenues in Fueling and PEM electrolysers and higher personnel expenses, the EBITDA was negatively impacted by high quality costs in Fueling, increased raw materials expenses and supply chain challenges.
EBITDA and other alternative performance measures (APMs) are defined and reconciled to the IFRS financial statements as a part of the APM section of the third quarter 2022 report on page 21.
Note that Nel has decided to increase its value threshold for stock exchange notices when receiving firm purchase orders or grants. The current value threshold of about EUR 2 million has been increased to about EUR 5 million.
Nel ASA: Third quarter 2022 financial results
(Oslo, 20 October 2022) Nel ASA (Nel, OSE:NEL) reported revenues of NOK 183 million in the third quarter of 2022, down from NOK 229 million in the same quarter of 2021. Third quarter order intake was NOK 775 million, up 456% from the same quarter last year, heavily impacted by the 200MW, EUR 45 million, purchase order from an undisclosed US customer. At the end of the third quarter the order backlog was 2 103 million, up 107% from Q3 2021. Subsequent to the quarter Nel announced another record, signing a NOK 600 million contract with Woodside Energy for its first hydrogen project in the US.
Quarterly highlights
Nel ASA (Nel) reported revenue and operating income in the third quarter 2022 of NOK 183 million, down 20% from the third quarter 2021 (Q3 2021: 229). The decline was driven by lower sales in Fueling and PEM electrolysers whereas alkaline electrolysers experienced strong growth.
Order intake in the quarter amounted to NOK 775 million (88% from electrolyser), up 456% from the same quarter last year (Q3 2021: 139).
At quarter end, Nel had a record high order backlog of NOK 2 103 million (80% related to electrolyser), up 107% from the third quarter of 2021, and up 46% compared to the previous quarter.
EBITDA of NOK -214 million (Q3 2021: -113) driven by high losses in Fueling, low margins on electrolyser projects signed in 2020/2021 and increased personnel expenses to prepare for large-scale projects
Strong cash balance of NOK 3 520 million (Q3 2021: 2 930).
Subsequent to the quarter,
Nel has received approximately USD 6 million in funding from US Department of Defence for accelerating advanced PEM electrolyser stack development
Nel has received a new NOK 600 million contract in the U.S. from Woodside Energy for alkaline electrolyser equipment.
“We are truly excited about the recent developments with the signings of two record size contracts in a very short time period”, says Nel’s CEO, Håkon Volldal.
“As our clients are increasingly worried about electrolyser production capacity from quality producers, the market balance is moving in Nel’s favour. We are now able to negotiate better terms and conditions, a trend we foresee to continue going forward”, Volldal says.
US is becoming an important market for green hydrogen production, mainly due to favourable framework conditions following President Biden’s Inflation Reduction Act (IRA), which is now accelerating final investment decisions (FID). The electrodes Nel will deliver to the recently signed large-scale projects will be produced in the Herøya facility in Norway – the only fully automated electrolyser manufacturing facility in the world.
“Having a proven and fully automated production concept gives Nel a huge advantage as it allows for future-proof scaling at speed. This is key to meeting the rapidly growing market demand” Volldal says
(Oslo, 15 October 2022) Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA (Nel, OSE:NEL), has entered into a contract for alkaline electrolyser equipment from Australian company Woodside Energy for its proposed hydrogen project, H2OK, in Ardmore in the state of Oklahoma, US. The contract has a total value of about NOK 600 million.
“We are extremely proud to be elected by Woodside Energy, a quality company with a strong track record of developing high-quality assets, for this exciting and meaningful project”, says Nel’s CEO Håkon Volldal.
H2OK is Woodside’s first hydrogen project in the US, this equipment will support phase 1 of the proposed project (60 tpd). Woodside will site the facility in Ardmore, Oklahoma, an area well suited for hydrogen production with good availability of water and energy. The company will utilize these resources to produce liquid hydrogen to hydrogen fuel cell-powered commercial and heavy transport vehicles.
Woodside Energy is looking to expand its US footprint and is also working on two proposed hydrogen projects in Australia: H2Perth and H2Tas.
The contract with Woodside was signed only a couple of months after Nel received its record size 200 MW purchase order for another large-scale project in the US.
“The electrolyser market is developing favorably for Nel. We are now securing quality contracts with favorable terms and a manageable risk profile. The contract with Woodside will have a substantial positive financial impact on the company”, says Volldal.
“It is extremely exciting to work with the professional team at Woodside to realize a project such as this. The Ardmore project will become an excellent showcase for Nel’s electrolyser technology as it aims to enable broader utilization for renewable energy into transportation and industrial sectors” says Tom Skoczylas, Regional Sales Manager for Nel Hydrogen US.
The electrolyser stacks will be manufactured in Nel’s factory at Herøya, the world’s only fully automated electrolyser facility.
This is a firm purchase order for alkaline stacks, balance of stack (BoS) equipment and engineering for the balance of plant (BoP) equipment (which Woodside will provide). There are pass-through mechanisms for steel and nickel price increases. Woodside aims to proceed with FID in 2023. Production of electrodes is estimated throughout 2024.
Nel ASA: Invitation to presentation of Q3 2022 results
(Oslo, 13. October 2022) Nel ASA (Nel, OSE:NEL) will publish its third quarter 2022 report on Thursday 20 October at 07:00 CET, and host a presentation at 08:00 CET.
The presentation will be a virtual event only, followed by a Q&A session.
The live presentation can be accessed on the company’s website www.nelhydrogen.com or by following this link. A recording of the presentation will be publicly available following the event.
The third quarter 2022 report and presentation will be made available on www.newsweb.no and www.nelhydrogen.com.
In addition, the company has decided to increase its value threshold for stock exchange notices when receiving firm purchase orders or grants. The current value threshold of about EUR 2 million is increased to about EUR 5 million. This will better align what will be communicated from the company and what is perceived as material for the Nel share.
Thanks Gardner, appreciate your work, i like this investment i think its the right place and time.
Nel ASA: Receives funding from US Department of Defense, Engineer Research and Development Center- Construction Engineering Research Laboratory
(Oslo, October 4, 2022) Nel Hydrogen US, a subsidiary of Nel ASA (Nel, OSE: NEL), has been granted $5.6 million in funding from the US Department of Defense (DoD) for accelerating advanced PEM electrolyser stack development, to enable low-cost hydrogen storage and resiliency applications, in collaboration with the Engineer Research and Development Center- Construction Engineering Research Laboratory (ERDC- CERL).
The purpose of this 19-month project is to accelerate low-cost electrolyser development with the aim to reduce both operating and capital costs. High level activities include development of membranes optimized for electrolysis applications, development of advanced catalysts including high volume manufacturing and recycling techniques, surface coating techniques to reduce precious metal usage, and cell stack integration and testing in a full system at ERDC-CERL. The project also has options for additional funding.
“We are excited to receive this funding from the Department of Defense. This project will be an important enabler for renewable hydrogen generation at scale for industrial applications with the PEM technology” says Kathy Ayers, Vice President, Research and Development at Nel
“Hydrogen generation provides a unique energy source that can be used to support the national energy security and resiliency,“ says Nicholas Josefik, Senior Researcher, Energy Branch, ERDC-CERL
Nel ASA: Receives purchase order for a containerized electrolyser for sustainable aviation fuel production
(Oslo, 13 September 2022) Nel Hydrogen US, a subsidiary of Nel ASA (Nel, OSE:NEL), has received a contract for a containerized PEM electrolyser from LanzaJet, a leading developer of biofuel technology in the United States.
Nel Hydrogen US has received a contract for a containerized PEM electrolyser to be installed at the world’s first commercial “Alcohol-to-Jet” production plant for sustainable aviation fuel (SAF), built by LanzaJet, an innovative leader in biofuel technology. Production capacity, when complete, will be 10 million gallons of SAF and renewable diesel per year from sustainable ethanol, with 90% SAF and 10% renewable diesel.
“Nel Hydrogen is thrilled to be part of this groundbreaking project with LanzaJet. Electrolysers can produce cost effective hydrogen for green chemical processes, which we expect to accelerate in light of recent production tax credit legislation for low carbon hydrogen”, said Dave Wolff, Regional Sales Manager for Nel Hydrogen US.
"On-site green hydrogen production is an important component of our strategy to produce low carbon sustainable aviation fuel at our facility in Georgia," said Jimmy Samartzis, LanzaJet CEO. “Working with Nel Hydrogen will enable LanzaJet to further reduce emissions in the aviation sector.”
The purchase order has a value of approximately USD 3 million, and the equipment is expected to be delivered in Q3-2023.
OSE-FILING
August 26, 2022 – Oslo, Norway
Nel ASA: Mandatory notification of trade by primary insiders
(Oslo, 26 August 2022) Anders Søreng, CTO of Nel ASA (“Nel”) has today sold 65,000 shares in Nel at an average share price of NOK 15.5687. After the transaction, Mr. Søreng holds 135,000 shares in Nel. Also, Jon André Løkke, Board Member of Nel, has today sold 450,000 in Nel at an average price of NOK 15.5844 per share. After the transaction, Mr. Løkke holds 550,000 shares in Nel.
This information is subject to the disclosure requirements in articles 19 of the Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act.
ENDS
They claim their dumping of all Nikola shares doesn't change their relationship - we'll see.
https://nelhydrogen.com/press-release/nel-asa-share-capital-increase-registered-and-sale-of-nikola-shares/
PRESS RELEASE
August 15, 2022 – Oslo, Norway
Nel ASA: Biden spending plans set to put USA in lead for clean hydrogen
The Inflation Reduction Act will provide tax credits of up to $3 per kg of clean hydrogen
“This is a fantastic development – and one that completely transforms the outlook for green hydrogen in the USA. Only two weeks ago, Biden’s bill looked dead. Now it’s alive and kicking, we can say that the USA is going to be one of the cheapest places in the world to produce clean hydrogen,” says Håkon Volldal, CEO of Nel.
The much-anticipated passing of the bill through the House of Representatives follows significant progress in the North American market for Nel, with the company’s biggest electrolyser order to date announced in July this year. The 200MW stack, worth €45m ($46m) and potentially twice that amount with additional hardware, will go live in 2024.
“What makes this record order particularly special is that it represents a change in market dynamics. The customer has secured power supply over 20 years, and end-product demand over the same time period. Similar long-term prospects will only inspire further investment in green hydrogen and related infrastructure,” Volldal says.
The coming Inflation Reduction Act is the latest in a series of political measures that are boosting prospects for green hydrogen. The EU’s RePowerEU initiative aims for 10 million tonnes of green hydrogen production within the bloc, and a further 10 million tonnes to be imported, by 2030.
Multiple nations now have national hydrogen plans. Germany’s is in the lead with a commitment to billions of euros of investment both domestically and internationally.
International political momentum and investor confidence supported Nel’s recent decision to double its Herøya plant output, with 1GW coming online by early 2024.
“The international picture shows the power of market-based incentives and government support for green hydrogen. We of course hope to see more of the same both in Norway and overseas in the near future,” Volldal says.
“The Herøya expansion supports what we have previously communicated: when demand is present, we will add capacity. The recent 200 MW contract will not be a one-off, and as we see a potential for additional large orders in the foreseeable future, we have decided to expand our production capacity”, Volldal says
Q2 2022 revenues grew from the same quarter last year as the company continues to increase electrolyser system deliveries according to plan.
EBITDA decreased from the same quarter last year. Continued ramp-up of the organization, in-line with Nel’s strategy to pursue growth, negatively affects profitability. The increase in personnel expenses predominantly relates to hires of experienced project, production, and technology workers. Furthermore, supply chain challenges leading to increased raw materials expenses and somewhat delayed deliveries had a negative effect.
EBITDA and other alternative performance measures (APMs) are defined and reconciled to the IFRS financial statements as a part of the APM section of the first quarter 2022 report on page 21.
The second quarter 2022 report and presentation are enclosed and available onwww.newsweb.no (Ticker: NEL) and www.nelhydrogen.com. Nel will host a live broadcast at www.nelhydrogen.com and the event can also be streamed at https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20220811_2
The presentation will be held at Hotel Continental, Oslo at 08:00 CET. Following the presentation there will be a Q&A-session based on submitted questions during the call. Physical participation is welcomed.
Nel ASA: Second quarter 2022 financial results
(Oslo, 11 August 2022) Nel ASA (Nel, OSE:NEL) reported revenues of NOK 183 million in the second quarter of 2022, up 12% from NOK 164 million in the same quarter of 2021. Second quarter order intake was NOK 236 million, up 61% from the same quarter last year. Subsequent to the quarter the company announced a record size order of 200 MW of alkaline electrolyser stacks. Based on continued positive market developments Nel has made a final investment decision on the second production line in the Herøya facility, increasing annual alkaline production capacity to approximately 1 GW.
Quarterly highlights
Nel reported revenue and operating income in the second quarter 2022 of NOK 183 million, up 12% from the second quarter 2021 (Q2 2021: 164).
Order intake this quarter of NOK 236 million (Q2 2021: 147).
At quarter end, Nel reported the highest ever order backlog of NOK 1 439 million, up 33% from the second quarter 2021 (up 12% compared to the first quarter 2022).
EBITDA of NOK -197 million (Q2 2021: -120).
Strong cash balance of NOK 3 646 million (Q2 2021: 3 074) following a successful private placement during the first half 2022 which raised NOK 1 500 million in gross proceeds.
Subsequent to the quarter,
Nel has received record size purchase order for 200 MW of alkaline electrolyser equipment
Nel has initiated the continued expansion at Herøya in Norway, for an additional new 500 MW alkaline production line
Nel has received purchase order for multiple H2Station™ units for a value of approximately EUR 8 million.
“The high activity level in the second quarter resulted in signing of the largest order the company has ever received, a contract that will have substantial positive effects on the company” says Nel’s CEO, Håkon Volldal
“The EUR 45 million 200 MW contract could potentially double in value as there is a potential for Nel to deliver balance of plant equipment in addition to the stacks following an ongoing paid FEED study”.
“In addition to having significant positive impact on Nel as a company, it also shows that the green hydrogen market is developing in the right direction. Political support and real incentives are emerging, equipment capex is coming down, long-term green power purchase agreements and off-take agreements are achievable, and financial institutions have matured their thinking on how to finance green hydrogen projects. These are all key requirements for realizing more large-scale projects”, Volldal says
Yesterday, the company’s Board of Directors approved further expansion in the company’s factory at Herøya, Norway. Nel will invest in a second fully automated 500 MW alkaline production line and bring total production capacity at the factory to ~1 GW. Total CAPEX for the equipment is estimated to be EUR 35 million. The line is expected to be operational in April 2024.
Nel ASA: Will build a second production line at Herøya
(Oslo, 11 August 2022) Nel ASA (Nel, OSE:NEL) Nel has decided to build a new fully automated production line at Herøya in Norway, doubling its capacity for production of alkaline electrolyser stacks to ~1 GW.
“The expansion means that Nel is strengthening its position as a global frontrunner for development and industrialization of green hydrogen technology and provides Norway with a great opportunity to take on the role as the leading exporter of electrolyser equipment to a rapidly growing market,” says Nel’s CEO Håkon Volldal.
The investment decision was made only weeks after the company received a record size order for 200 MW of alkaline electrolyser stacks from an US customer.
“The Herøya expansion supports what we have previously communicated: when demand is present, we will add capacity. The recent 200 MW contract will not be a one-off, and as we see a potential for additional large orders in the foreseeable future, we have decided to expand our production capacity”, Volldal says
Nel’s facility at Herøya is the world’s first fully automated electrolyser manufacturing factory, and was officially opened by Norwegian Energy Minister Terje Lien Aasland, in April this year.
“Nel’s new factory at Herøya is a step in the right direction towards a future without emissions. In a growing hydrogen market, even more electrolysers are needed, and it will be a sign of quality that the electrolysers are marked “made in Norway””, Aasland said in his inaugural speech.
The factory is currently running on three shifts and is setting weekly production records. Towards year end the company expect to have five shifts running. While the current production capacity is 500 MW, it can be expanded to 2 GW, which will also generate a significant amount of new direct and indirect workplaces in the area around Herøya and Porsgrunn, Norway.
The new production line is expected to be in operation from April 2024. Total capex commitment for the equipment will be approximately EUR 35 million.
Nel ASA: Receives purchase order for multiple H2Station™ units from a European client
(Oslo, 10 August 2022) Nel Hydrogen A/S, a subsidiary of Nel ASA (Nel, OSE: NEL) has received a purchase order from an undisclosed European client for the delivery of several H2Station™ units for fueling of light- and heavy-duty fuel cell electric vehicles.
The contract has a total value of approximately EUR 8 million and includes service & maintenance. The delivery of the H2Station™ units is planned in early 2023.
Nel ASA: Receives record size purchase order for 200 MW of alkaline electrolyser equipment
(Oslo, 18 July 2022) Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA (Nel, OSE:NEL), has received its largest ever purchase order from an undisclosed US customer for 200 MW of alkaline electrolyser equipment for industrial application.
“We are truly excited to announce Nel’s largest purchase order to date. This project will showcase Nel’s large-scale delivery and execution capabilities and become a valuable reference for future large-scale contracts. It will have a substantial, positive impact on Nel’s financials, electrolyser product and production cost, technology development and scale-up plans,” says Nel’s CEO Håkon Volldal.
The Client, which has developed the project over several years, will fully fund the project through private investors, and has also received significant state/local government incentives given the environmental benefits of the proposed project. The Client’s development efforts have also resulted in a 20-year off-take commitment from local partners as well as a 20-year electricity power purchase agreement (PPA).
“This project represents an excellent opportunity for Nel to demonstrate its hydrogen technology and scaling capabilities, crucial to meet the rapid growing demand we see for green hydrogen”, says Tom Skoczylas, Regional Sales Manager for Nel Hydrogen US. “We are very happy to be elected for this ground-breaking project where Nel was chosen based on maturity of technology and proven electrolyser plant experience,” he says.
The contract for the electrolyser stacks is a firm order with a value in excess of EUR 45 million. Production and delivery of stacks is planned from February 2023 until mid-2024 at Nel’s large-scale electrolyser production facility at Herøya. Pending an ongoing engineering study, Nel could also get the opportunity to provide additional balance-of-plant equipment for the project.
Oslo, 12 July 2022) Nel Hydrogen US, a subsidiary of Nel ASA (Nel, OSE:NEL), has received a purchase order from Viva Energy Australia Pty. Ltd. (Viva Energy) for a MC500 containerized PEM water electrolyser. When installed, the electrolyser will be the biggest in Australia and provide green hydrogen to a fleet of heavy fuel cell vehicles.
Viva Energy is an ASX listed company that owns the Geelong refinery and supplies a service station network of around 1,350 Shell and Liberty service stations across Australia. Viva Energy also supplies fuels and other products to a range of commercial customers.
As part of its Geelong Energy Hub, Viva Energy is building a new energy service station near its Geelong refinery that will provide battery charging and hydrogen refueling. The system delivered by Nel is a containerized solution with a production capacity up to 1,063kg/day, and will supply fuel cell grade hydrogen directly on site to the dedicated fueling station. The project received a grant from the Australian Renewable Energy Agency (ARENA) as part of ARENA's Advancing Renewables Program and the Victorian Government also contributed to the project via the Renewable Hydrogen Commercialization Pathways Fund.
“It is a great pleasure to collaborate with Viva Energy and our local partner ENGV to develop this unique flagship project in Australia. This project is an important milestone for Australia’s targeted efforts to decarbonize the mobility sector and create a local hydrogen economy”, says Raymond Schmid, VP Sales and Marketing EMEA and Oceania.
The contract has an approximate value of about EUR 4m, and the system is expected to be delivered in Q3 2023.
July 8, 2022 – Oslo, Norway
Nel ASA: Receives purchase order for an alkaline electrolyser system from Skovgaard Energy
(Oslo, 8 July 2022) Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA (Nel, OSE:NEL), has received a purchase order for an alkaline electrolyser system from Skovgaard Energy Aps in Lemvig in Western Jutland, Denmark. The electrolyser system will be used for production of green ammonia.
The green ammonia plant, to be built by Skovgaard Energy and their Danish project partners, Topsoe and Vestas, will be the world’s first dynamic green ammonia plant, where renewable electricity from wind and solar will be connected directly to the electrolyser. This is a demo plant that will test how an ammonia reactor can fluctuate operations based on renewable power input. This will be important learning prior to scaling for future large-scale power-to-X and green ammonia plants. The Danish partnership has been awarded financial support for the project by the Danish Energy Technology Development and Demonstration Program (EUDP).
“We are thrilled for this project, which will be an important milestone in the green transition as it showcases green hydrogen production into green ammonia directly from renewable sources. Skovgaard Energy is an exciting client, and we look forward to continue a fruitful relationship with the company and partners“, says Henning Langås, Senior Tender Manager of Nel Hydrogen Electrolyser.
“For this project we selected the alkaline electrolyser technology from Nel as we do not want to risk the project with unfamiliar electrolyser technology. Nel’s alkaline electrolyser is proven technology of high quality, and it will also match well with the intentions of the demonstration project of dynamic operation of the ammonia plant”, says Pat A Han, Technical Director of Skovgaard Energy.
The contract has an approximate value of EUR 4m, and the system is expected to be delivered in Q3 2023.
(Oslo, 24 June 2022) Yesterday, Enova announced that Glomfjord Hydrogen, where Nel owns 23 percent of the shares, will receive up to NOK 150 million in funding as one of five maritime hydrogen hubs along the Norwegian coastline.
“This is great news for Glomfjord Hydrogen and Nel. The funding from Enova is crucial for the realization of the project.” says Nel’s CEO Jon André Løkke.
Glomfjord Hydrogen plans to establish a 20 MW hydrogen plant in Glomfjord in Meløy municipality for production of renewable hydrogen to customers in the maritime sector. The project, which is owned by Greenstat ASA, Meløy commune and Troms Kraft ASA in addition to Nel, was initiated in June 2016.
“The 20 MW hydrogen plant in Glomfjord will, if realized, be the same size as Europe’s currently largest hydrogen plant”, says Løkke, referring to Iberdrola’s hydrogen plant in Puertollano, Spain, where Nel also delivered the electrolysers.
“Glomfjord is a place with a long and proud industrial history in Norway, and until the 90s Glomfjord Industrial Park was the largest hydrogen production site in the world. It is therefore very gratifying that Glomfjord once again seems to become a new green hydrogen hub in Norway”, says Løkke.
Enova, which is a state enterprise owned by the Norwegian Ministry of Climate and Environment, also announced that four additional hydrogen hubs will receive funding. These projects will be located in Rørvik, Hitra, Florø and Kristiansand.
“We are happy to see so many large and interesting projects developing on our own home turf in Norway, where we have our roots and a natural competitive advantage”, says Løkke.
All in all, the five hydrogen hubs will receive up to NOK 669 million in support from Enova, which also announced that they will support seven game-changing hydrogen and ammonia driven vessels with more than NOK 451 million.