DETROIT and OSLO, Norway, Nov. 16, 2022 /PRNewswire/ — Nel Hydrogen US, a subsidiary of Nel ASA (Nel) (OSE: NEL), has entered right into a joint growth settlement with General Motors (NYSE: GM) to assist speed up the industrialization of Nel’s proton alternate membrane (PEM) electrolyser platform. By combining GM’s in depth gas cell experience and Nel’s deep data of electrolysers, the 2 firms want to allow extra 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,” stated 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,” stated 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 primary firm on the planet with a totally automated alkaline electrolyser production line. The subsequent step can be to industrialize the production of its PEM electrolyser gear in the same approach which can allow appreciable expertise development.
GM is growing and commercializing each HYDROTEC hydrogen gas cell and Ultium battery applied sciences that ship the place it issues most: efficiency and cost. This is opening new income potential for GM as industries – together with freight trucking, aerospace, energy technology and locomotive – flip to GM to enhance efficiency and scale back 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,” stated Volldal.
A PEM electrolyser and a gas cell are largely based mostly on the identical rules. A PEM electrolyser makes use of electrical energy and water to supply hydrogen and oxygen, whereas a gas cell reverses the method, utilizing hydrogen and oxygen to supply electrical energy and water. As GM has made main steps and gained experience with gas cells, the 2 firms see substantial synergies by transferring this to Nel’s PEM platform.
Nel can be compensating GM for the event work and IP switch on an ongoing foundation and pay a license after profitable commercialization dependent on how a lot of the top product is predicated on GM expertise.
About Nel ASA | www.nelhydrogen.com
Nel is a worldwide, devoted hydrogen firm, delivering optimum options to supply, retailer and distribute hydrogen from renewable power. We serve industries, power and fuel firms with main hydrogen expertise. Since its origins in 1927, Nel has a proud historical past of growth and continuous enchancment of hydrogen crops. Our hydrogen options cowl your complete worth chain from hydrogen production applied sciences to manufacturing of hydrogen fueling stations, offering all gas cell electrical autos with the identical quick fueling and lengthy vary as standard autos as we speak.
This data is topic to an obligation of disclosure pursuant to Section 5-12 of the Norwegian Securities Trading Act. This data was issued as inside data pursuant to the EU Market Abuse Regulation, and was printed by Wilhelm Finder, Head of Investor Relations, at NEL ASA on the date and time offered.
About General Motors
General Motors (NYSE:GM) is a worldwide firm targeted on advancing an all-electric future that’s inclusive and accessible to all. At the center of this technique is the Ultium battery platform, which can energy every thing from mass-market to high-performance autos. General Motors, its subsidiaries and its three way partnership entities promote autos below the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling manufacturers. More data on the corporate and its subsidiaries, together with OnStar, a worldwide chief in car security and safety companies, will be discovered at https://www.gm.com.
For further data, please contact:
Kjell Christian Bjørnsen, CFO, +47 917 02 097
Wilhelm Flinder, Head of Investor Relations, +47 936 11 350
David Caldwell, GM Communications, +1 586-899-7861, [email protected]
Phil Lienert, GM Communications, +1 313-530-1508, [email protected]
The following recordsdata can be found for obtain:
SOURCE NEL ASA
