Summary by AI.
Nel ASA makes a final investment decision on the industrialization of its new Next Generation Pressurized Alkaline electrolyser technology.
The company will build 1 GW of production capacity at its Herøya plant in Norway (aiming to scale up to 4 GW later). The project will receive up to €135 M in support from the EU Innovation Fund.
The technology has been developed since 2018, and now a full-scale prototype has been successfully tested, verifying market-leading efficiency.
Commercial launch: H1/2026
Scaled delivery capability: 2027
New platform
- significantly reduces CAPEX
- improves energy efficiency
→ and significantly lowers the LCOH of hydrogen, unlocking previously uneconomical projects.
The system is modular, factory-tested, and containerized, which simplifies installations and reduces costs – also, no separate buildings are required.
The investment for 1 GW capacity is approx. 300 M NOK before subsidies, with CAPEX distributed over the years 2026–2027.
At the same time, Nel is considering reviewing the book values of two old 500 MW atmospheric-alkaline lines (which have been idle).