“The signing of this agreement is a great milestone in Nel’s history,” said Håkon Volldal, President and CEO of Nel. “Reliance is an impressive company with enormous ambitions as a global producer of renewable hydrogen, and I am proud that they have selected Nel as their technology partner. In addition to supporting Reliance in achieving their global aspirations, Nel will through this agreement get a revenue stream from a rapidly growing market Nel could not have accessed on its own.”
A Fortune 500 company, RIL is renowned for its capacity to execute large-scale projects and robust investments in technology and innovation. RIL is building a multi-GW fully integrated end-to-end new energy value chain, from photon to green molecules, paving the way for abundant and affordable access to sustainable energy for everyone, as per the vision set by RIL’s Chairman and Managing Director, Mr. Mukesh Ambani. Green hydrogen is a critical element of the new energy value chain – and the partnership between RIL and Nel in relation to alkaline electrolysers is an important milestone towards the sustainable energy future.
Through the agreement, Reliance gets access to Nel’s technology platform for manufacturing electrolysers. Both partners will also collaborate on future performance improvements and cost optimization through research and development, value engineering, standardization and modularization to improve the competitiveness of the alkaline technology platform.
According to the agreement, Nel can procure equipment from Reliance for its own projects. Nel will continue to serve the Indian market with technology platforms that are not covered by the agreement.
