Nel inks alkaline electrolyzers deal with Indian company

May 23, 2024, by Aida Čučuk

Nel Hydrogen Electrolyser, a fully-owned subsidiary of Norwegian Nel ASA, and Indian Reliance Industries Limited (RIL) have entered into a technology licensing agreement that provides the latter with an exclusive license for Nel’s alkaline electrolyzers in India and allows it to manufacture them for captive purposes globally.

The partners will also collaborate on future performance improvements and cost optimization through research and development (R&D), value engineering, standardization and modularization to improve the competitiveness of the alkaline technology platform. Furthermore, according to the agreement, Nel can procure equipment from RIL for its own projects.

Nel said the company will continue to serve the Indian market with technology platforms that are not covered by the agreement, claiming that the partnership of its “technology platform with RIL’s execution prowess will further add to the success story for both partners.”

Nel’s President and CEO Håkon Volldal commented: “The signing of this agreement is a great milestone in Nel’s history… In addition to supporting Reliance in achieving their global aspirations, Nel will through this agreement get a revenue stream from a rapidly growing market Nel could not have accessed on its own.”

To note, RIL, which executes large-scale projects and invests in technology and innovation, is building a multi-GW fully integrated end-to-end new energy value chain. Green hydrogen is said to be its critical element.

As for Nel, in 2024, the company signed a contract for 10 MW of alkaline electrolyzer equipment for about €5 million with Samsung C&T Corporation Engineering & Construction Group for the latter’s first off-grid green hydrogen production project to be deployed in South Korea.

In 2023, it entered a few electrolyzer deals, including a contract for 20 MW of alkaline electrolyzer equipment for about €9 million with Hyd’Occ for its project in Port-La-Nouvelle, France, which is expected to be a significant hub for hydrogen flows in the Mediterranean.