Nel ASA: Enova funding provides breakthrough for hydrogen project in Glomfjord

(Oslo, 24 June 2022) Yesterday, Enova announced that Glomfjord Hydrogen, where Nel owns 23 percent of the shares, will receive up to NOK 150 million in funding as one of five maritime hydrogen hubs along the Norwegian coastline.

“This is great news for Glomfjord Hydrogen and Nel. The funding from Enova is crucial for the realization of the project.” says Nel’s CEO Jon André Løkke.

Glomfjord Hydrogen plans to establish a 20 MW hydrogen plant in Glomfjord in Meløy municipality for production of renewable hydrogen to customers in the maritime sector. The project, which is owned by Greenstat ASA, Meløy commune and Troms Kraft ASA in addition to Nel, was initiated in June 2016.

“The 20 MW hydrogen plant in Glomfjord will, if realized, be the same size as Europe’s currently largest hydrogen plant”, says Løkke, referring to Iberdrola’s hydrogen plant in Puertollano, Spain, where Nel also delivered the electrolysers. 

“Glomfjord is a place with a long and proud industrial history in Norway, and until the 90s Glomfjord Industrial Park was the largest hydrogen production site in the world. It is therefore very gratifying that Glomfjord once again seems to become a new green hydrogen hub in Norway”, says Løkke. 

Enova, which is a state enterprise owned by the Norwegian Ministry of Climate and Environment, also announced that four additional hydrogen hubs will receive funding. These projects will be located in Rørvik, Hitra, Florø and Kristiansand.

“We are happy to see so many large and interesting projects developing on our own home turf in Norway, where we have our roots and a natural competitive advantage”, says Løkke. 

All in all, the five hydrogen hubs will receive up to NOK 669 million in support from Enova, which also announced that they will support seven game-changing hydrogen and ammonia driven vessels with more than NOK 451 million.

ENDS

For additional information, please contact:

Kjell Christian Bjørnsen, CFO, +47 917 02 097

Wilhelm Flinder, Head of Investor Relations, +47 936 11 350

About Nel ASA | www.nelhydrogen.com

Nel is a global, dedicated hydrogen company, delivering optimal solutions to produce, store and distribute hydrogen from renewable energy. We serve industries, energy and gas companies with leading hydrogen technology. Since its origins in 1927, Nel has a proud history of development and continual improvement of hydrogen plants. Our hydrogen solutions cover the entire value chain from hydrogen production technologies to manufacturing of hydrogen fueling stations, providing all fuel cell electric vehicles with the same fast fueling and long range as conventional vehicles today.