Acquisition of Stake in Norwegian Hydrogen Company Nel
Partnership Agreement for Strategic Collaboration
Development of Integrated Technology Solutions for Hydrogen Production
Samsung E&A has officially entered the green hydrogen market by acquiring shares in the global hydrogen company Nel.
Namgung Hong, President of Samsung E&A, and Hokon Voldal, President of Norway Nelsa, are attending the partnership signing ceremony and taking photos. Photo by Samsung E&A
On the 12th, Samsung E&A announced that on the 11th (local time), it acquired a 9.1% stake in Nel for approximately 47.6 billion KRW and signed a partnership agreement for strategic collaboration.
Headquartered in Norway, Nel is a global hydrogen company that commercialized water electrolysis technology for the first time in the world in 1927. Currently, it provides various water electrolysis solutions for hydrogen production based on renewable energy.
Nel stands out in the alkaline electrolysis cell (AEC) market and is carrying out various projects worldwide. It is also known as the only hydrogen company that simultaneously possesses next-generation polymer electrolyte membrane (PEM) electrolysis technology.
Through this collaboration, Samsung E&A plans to develop integrated technology solutions for hydrogen production plants. Based on this, it aims to lead the green hydrogen plant market and expand its business areas to include the installation and operation of electrolyzers.
Amid the global decarbonization trend and environmental regulations in major countries, the global eco-friendly energy market is gaining attention, including sustainable aviation fuel (SAF), ammonia and methanol, which are emerging as next-generation ship fuels. Samsung E&A’s strategy is to establish a long-term partnership with Nel to secure a leading technological position in the green hydrogen market.
Previously, Samsung E&A declared that it would become a company that solves social challenges through technology as one of its mid- to long-term core strategies in the era of energy transition. Centered on three "E&Able" strategies?low carbon (E&Able Low), zero carbon (E&Able Zero), and environment (E&Able Circle)?it is accelerating new business initiatives in energy transition and eco-friendly fields.
A Samsung E&A official said, "We will proactively secure technologies in the energy transition field, such as hydrogen and carbon neutrality, through technology investment and collaboration. We also plan to create a virtuous business cycle by leading high value-added EPC (engineering, procurement, and construction) linked orders based on technology solutions."
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