The collaboration agreement will enable SAMSUNG E&A to develop and offer its customers complete design packages for hydrogen plants based on Nel’s alkaline and PEM electrolysers. In addition, the two companies will work on a larger consolidated Balance of Stack (BoS) system for Nel’s alkaline electrolysers.
Håkon Volldal, President and CEO of Nel, commented: “Our strategy is to focus on electrolyser stack and balance of stack technology. Therefore, we need to work with EPC companies who can provide balance-of-plant solutions and increase our global market reach. It is an honor that a highly reputable and solid company like SAMSUNG E&A has decided to partner with Nel because of our technology and manufacturing leadership.”
Hong Namkoong, CEO of SAMSUNG E&A, said: “SAMSUNG E&A will provide integrated electrolyser solutions with competitive value and bankability to green hydrogen project owners with Nel. Green hydrogen is a core technology in clean tech with carbon-neutral technologies and has a high value not only as itself but also as a basic ingredient for green ammonia, green methanol, SAF, and e-fuel.
“Nel is a market-leading electrolyser company and the only company that has competitive technology in both Alkaline and Proton Exchange Membrane electrolyser with a 100-year history. We are very glad to announce our partnership with Nel”, Namkoong says.
In a separate transaction, SAMSUNG E&A will purchase 10% of newly issued Nel shares through a direct placement, resulting in a post-transaction ownership of 9.1%. As a result of this transaction, SAMSUNG E&A will become the largest single shareholder in Nel.
