The partnership follows NER’s completion of detailed technical due diligence of Topsoe’s SOEC electrolyzer technology and enables Topsoe’s customers to deploy NER’s technology performance insurance for projects using SOEC technology – enhancing bankability and enabling a lower cost of capital. The completion of technical due diligence streamlines the offering of performance insurance to eligible projects, improving timelines and increasing the certainty of financing success.
Sundus Cordelia Ramli, CCO Power-to-X at Topsoe, said: “Our partnership with NER is an important milestone to accelerate the delivery of our customers’ green hydrogen projects and is a testament to the confidence in our technology. As the insurance provides performance coverage for commissioning, ramp-up, and operations, it is a strong de-risking tool supporting customers and investors with increased bankability for projects that involve our SOEC electrolyzers.”
Tom Dickson, CEO of New Energy Risk, added: “We see the promise in the hydrogen market and appreciate that Topsoe has put their trust and confidence in NER’s capabilities to deliver value and support customer adoption and financing of their electrolyzer technology.”
NER’s insurance product provides performance coverage for commissioning, ramp-up, and operations. This includes protection against technical issues leading to temporary or permanent performance drops, offering support for cash flow and project revenue.
