Nel Hydrogen Electrolyser AS, a fully owned subsidiary of Nel ASA (Nel, OSE:NEL), has today been awarded a grant from the EU Innovation Fund of up to EUR 135 million for industrialization of its next-generation pressurized alkaline technology. The technology is currently being prototyped, and the potential industrialization is planned at Herøya, Norway.

“We continue to realize the full potential of our current technology at the same time as we develop future technologies to help our customers drive down the cost of green hydrogen. This grant will make it significantly easier for us to bring our new innovative pressurized alkaline technology to market,” said Nel’s President and CEO, Håkon Volldal.

Nel has been developing its next-generation pressurized alkaline technology for more than five years. The technology is currently in the prototype stage with promising results. Nel has now been awarded a grant for a phased build-out of production at Herøya, Norway. The grant application was supported by Enova SF, the Norwegian national contact point for the EU Innovation Fund.