Nel and Reliance Forge Licensing Deal for Alkaline Electrolyzers

Nel Hydrogen Electrolyser AS, a wholly owned subsidiary of Nel ASA (Nel, OSE:NEL), has forged a technology licensing pact with Reliance Industries Limited (RIL). This agreement grants RIL an exclusive license for Nel's alkaline electrolyzers within India, while also authorizing RIL to globally manufacture Nel's alkaline electrolyzers for internal use.

"The conclusion of this agreement marks a significant milestone in Nel's journey. Reliance, with its formidable stature and ambitious vision as a leading renewable hydrogen producer on the global stage, stands as an exemplary partner for Nel. I take pride in Nel being chosen as their technology ally. Beyond aiding Reliance in realizing their worldwide objectives, this collaboration also presents Nel with a revenue stream from a swiftly expanding market that would have been inaccessible otherwise," stated Håkon Volldal, President and CEO of Nel.

RIL stands as a Fortune 500 entity and the foremost private sector conglomerate in India, celebrated for its prowess in executing large-scale ventures and substantial investments in cutting-edge technology and innovation. Spearheading a multi-gigawatt fully integrated new energy value chain, spanning from photon to green molecules, RIL is committed to facilitating widespread and cost-effective access to sustainable energy for all. Within this comprehensive framework, green hydrogen assumes pivotal importance. The collaboration between RIL and Nel concerning alkaline electrolyzers marks a significant stride toward realizing a sustainable energy future.

Under the agreement, Reliance gains entry to Nel's acclaimed and established technology platform for electrolyzer manufacturing. Reliance Industries Limited has demonstrated its ability to establish numerous businesses on a truly global scale. The synergy between Nel's robust technology platform and RIL's execution capabilities is poised to enhance the success narrative for both entities.

Both collaborators will engage in joint efforts to enhance future performance and streamline costs through research and development (R&D), value engineering, standardization, and modularization. These initiatives aim to enhance the competitiveness of the alkaline technology platform.

As per the terms of the agreement, Nel has the option to acquire equipment from Reliance for its own projects. Additionally, Nel remains committed to serving the Indian market with technology platforms not included in this agreement.

With roots dating back to 1927, Nel has evolved into a prominent hydrogen technology company with a worldwide footprint. Specializing in electrolyzer technology for renewable hydrogen production and hydrogen fueling equipment for vehicles, Nel's products are pivotal in enabling a green hydrogen economy. They facilitate the decarbonization of numerous sectors including transportation, refining, steel, and ammonia production.