(March 13, 2024 - Oslo, Norway, Nel, OSE:NEL). Today, Nel and its partners
received around 90 USD million from the Department of Energy (DoE) for seven
research and development projects. Nel is the leading partner on one of the
projects. About 10 % of the work under the R&D programs will be undertaken by
Nel.
"We are thankful for the support from the Department of Energy, which will help
accelerate our research and development while solving key challenges for the
future of the hydrogen industry," says Nel's Vice President for Research and
Development, Kathy Ayers.
DoE has awarded funding to the following projects in which Nel is one of the
partners:
· Low-Cost, Clean AEM Electrolysis through Transport Property Understanding,
Manufacturing Scale-up, and Optimization of Electrodes and Their Interfaces (Nel
in lead)
· Advanced Porous Transport Layer Design and Manufacturing for PEM
Electrolyzers
· Durable, Low-Cost, Manufacturable AEM Electolyzer Components
· Oxygen Evolution Reaction Catalyst Scale-Up and Validation for Proton
Exchange Membrane Water Electrolyzers
· Precious-Metal Free Coatings for PPG PTL Assemblies
· High Performance non-PFSA Membranes for Next-Generation Proton Exchange
Membrane (PEM) Electrolyzers
· H2CIRC: Circular Recycling for the Hydrogen Economy
Link to the press release from the Department of Energy:
https://www.energy.gov/eere/fuelcells/bipartisan-infrastructure-law-clean
-hydrogen-electrolysis-manufacturing-and-0?source=email.
ENDS
For additional information, please contact:
Kjell Christian Bjørnsen, CFO, +47 917 02?097
Lars Nermoen, Head of Communications, +47 902 40 153
About Nel ASA | www.nelhydrogen.com
Nel has a history tracing back to 1927 and is today a leading pure play hydrogen
technology company with a global presence. The company specializes in
electrolyser technology for production of renewable hydrogen, and hydrogen
fueling equipment for road-going vehicles. Nel's product offerings are key
enablers for a green hydrogen economy, making it possible to decarbonize various
industries such as transportation, refining, steel, and ammonia.
This information is subject to a duty of disclosure pursuant to Section 5-12 of
the Norwegian Securities Trading Act. This information was issued as inside
information pursuant to the EU Market Abuse Regulation, and was published by
Kjell Christian Bjørnsen, Chief Financial Officer, at NEL ASA on the date and
time provided.
Forward-looking statements: This announcement contains certain forward-looking
statements. By their nature, forward-looking statements involve risk and
uncertainty because they reflect the company's current expectations and
assumptions as to future events and circumstances that may not prove accurate. A
number of material factors could cause actual results and developments to differ
materially from those expressed or implied by these forward-looking statements.