Nel ASA - Hydrogen Technology Since 1927

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It’s time to create our own thread for Nel ASA. The company is constantly gaining more visibility and has found its way into more and more forum members’ portfolios. So it’s good to separate its own section from the https://keskustelut.inderes.fi/t/energia-alan-teknologinen-kehitys-ja-sijoitusmahdollisuudet/2568/2301 thread so that information can be found in a structured way :slight_smile:

Nel ASA is a Norwegian company that has been operating since 1927. Nel operates globally, offering hydrogen solutions that cover the entire value chain, from hydrogen production to its storage and the construction of refueling stations. A true “octopus” with tentacles spread around. :slight_smile: Currently, the world is constantly seeking solutions to cut emissions, where Nel ASA positions itself by building the entire hydrogen infrastructure.

Nel ASA has supplied over 40 hydrogen refueling stations to 10 countries, and their largest hydrogen production plant currently has a capacity of 135MW.
For example, the Norwegian company ASKO is one company committed to zero emissions, and it also happens to be Norway’s largest transport company. They chose Nel ASA to supply/build a solar-powered hydrogen production plant and a refueling station solution for them in Trondheim.

Currently, there are a lot of collaboration schemes and many projects underway, for example, collaborations with Nikola Motors, Kvaerner, Hyundai, and Yara. I’m sure I only know a fraction of the collaboration schemes and have certainly missed the “most important” ones, but those who know more are welcome to add them :slight_smile:
We can also assume that with the recently published European hydrogen strategy, hydrogen infrastructure will gain significant momentum in the coming years.

''The European Commission wants tens of billions in investments in hydrogen. The investments are part of the EU’s recovery package, which aims to revive the economy from the impacts of the coronavirus. The Commission is likely to publish its hydrogen strategy next Wednesday.

According to Energiateollisuus (Finnish Energy Industries), the role of hydrogen will grow especially in industry and as an energy source for heavy transport and shipping. According to Energiateollisuus, the growing role of hydrogen in the energy system will also enable emission reductions in Finland.‘’

I personally find the current valuation of hydrogen companies in general challenging, as well as their difficulties in reaching break-even with costs and revenues. Now there is light at the end of the tunnel, and it seems that the hydrogen breakthrough is indeed coming within the next few years/decades.
I haven’t had much time to delve into the company or hydrogen in general yet, but we have a lot of expertise on the topic in the forum, so let’s keep our eyes and ears open and actively participate in the discussion!

Let me know if I’ve babbled any incorrect information so we can correct it!

Links related to Nel ASA and hydrogen:

https://www.shareville.fi/osakkeet/nel/kommentit

https://twitter.com/nelhydrogen?lang=en

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Energia-alan teknologinen kehitys ja sijoitusmahdollisuudet
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Today, information has emerged about the offshore cooperation project between Nel and Doosan:
https://www.finanztreff.de/nachrichten/nel-und-doosan-da-waechst-etwas-heran/21007808

Those skilled in German can elaborate further, but using a translator, I managed to get these snippets:
Nel and South Korea’s Doosan are building a floating system off the coast of Aberdeen, which combines all the technologies needed to produce large quantities of hydrogen from deep-water offshore wind energy.

It will practically use and test Nel’s PEM electrolyzer. The possibilities sound absolutely brilliant if things go well, don’t they?

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Great that we got a thread open for NEL. The opening post could also include different (significant) projects they are involved in :slightly_smiling_face:
For example this

https://nikolamotor.com/press_releases/nel-asa-awarded-multi-billion-nok-electrolyzer-and-fueling-station-contract-by-nikola-47 Nikola figures
https://nikolamotor.com/press_releases/nikola-orders-enough-electrolysis-equipment-from-nel-to-produce-40000-kgs-of-hydrogen-per-day-79

Engie’s arrangements with Anglo American

Hynet in Korea

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Mitä sinulla on salkussa?
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I already wrote on the Fuelcell side how this is still a relatively unknown company, even though it’s involved in almost everything related to hydrogen. Someone on Yahoo Finance said it well: it’s time to strike while the company is still “under the radar.” I believe that if the NKLA hype only rises, soon Americans will also be looking for partners, and then something will surely happen again.

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Here is the EU Commission’s hydrogen strategy:

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I wouldn’t say it’s completely unknown. In the US, yes, but in the Nordics, it’s the most well-known hydrogen company there is.

I also wouldn’t directly confuse NEL with Nikola hype. Of course, they have big plans with them, but as I listed in the projects, NEL actually has great and ambitious projects (some of them even huge).

They didn’t get the co-chair position in the Clean Hydrogen Alliance for nothing.

Edit: Okay, I’ll take that back a bit. It’s a very familiar company to those following the hydrogen industry, but when the large mass in the investment scene hears and knows this compared to, say, Neste, then in comparison, it’s still “under the radar.”

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Thanks for chiming in by adding those projects! Same to @Teisho for linking that hydrogen strategy PDF :slight_smile: Nice set of info right at the start of the thread! It would still be fun to hear @Meri’s thoughts on that Doosan set, he hinted that he might open it up more :slight_smile:

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Well, I don’t think I said completely unknown either :upside_down_face:

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Nel
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This is also a good picture! Picked up from Twitter.

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"Dolphyn is a completely scalable technology that once established could be expanded across the North Sea (Figure 2).

A single 10 MW turbine could be used to produce in excess of 800 t of hydrogen per year, it is estimated.

The Dolphyn system is being designed such that it can be deployed in stand-alone mode or as multiple connected units to form an offshore hydrogen wind farm.

A 400 turbine ‘farm’ (20 x 20 array consisting of 10 MW turbines), with an installed capacity of 4 GW, could produce over 320 000 t of hydrogen per year.

The plan is to export hydrogen to shore via a pipeline, without any external power source being required.

The design has been developed through a detailed technical and financial evaluation process to achieve the lowest predicted cost for producing hydrogen from renewables at scale in the UK."

Uh oh. Sounds like money.

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https://min.e24.no/nel-sjefen-overveldet-av-eus-hydrogensatsing/a/kJ294B?fbclid=IwAR0B4EwgPzvq878FYZpnXPk4QfoJCMepv9tBHy_iOria-DL-NtBX35WO08Q

Let’s put Lock’s few comments here.

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Screenshot_2020-07-10-21-18-22-333_com.android.chrome
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Text translated by a translator for those who don’t understand Norwegian/can’t use a translator :slight_smile:

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Don’t translate into Finnish, it’ll go wrong. He didn’t say “worried” but “overwhelmed” which is more like “surprised.”

So always translate into English.

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Yeah, “berømmer” = “praises”, not “concerned” :smiley:

Nel CEO Jon André Løkke praises the EU for setting aggressive goals for hydrogen. Now the Norwegian company wants to position itself to win new customers in Europe.

So:

Nel CEO Jon André Løkke praises the EU’s aggressive target for hydrogen. Now the Norwegian company wants to position itself to win new customers in Europe.

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This shouldn’t be read word-for-word, but rather to find the main point of the text, if you’re messing around with Google Translate :joy:

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The article it refers to states that at this stage, it’s a prototype scheduled for completion in 2024, with the actual plant to follow in 2027.

German is quite manageable, but some idioms are a bit tricky. Apparently, it’s about floating plants/facilities further offshore that simultaneously utilize wind energy.

Referenced article: Nel und Doosan: Da wächst etwas heran - DER AKTIONÄR

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Let’s put this here too.

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https://twitter.com/H2Bjorn/status/1281867951017205760?s=19

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I wonder if there will be any Finnish companies that can get involved in this 10 billion hydrogen scheme on a large scale? It would be important for post-corona Finland to get “free” money into the markets.