Nel ASA Secures EU Grant for Hydrogen Tech Expansion

NEL ASA (NLLSF) has released an update.

Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA, has secured a significant EUR 135 million grant from the EU Innovation Fund to industrialize its next-generation pressurized alkaline technology at Herøya, Norway. This funding will help Nel accelerate the market entry of their innovative technology, which aims to reduce the cost of green hydrogen production. The company’s plan includes a phased build-out, initially targeting an annual capacity of 1-2 GW, with a potential expansion to 4 GW based on successful prototype testing and market reception.

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