Nel ASA: Signs frame agreement with Howden for supply of hydrogen compressors
(Oslo, 24 June 2021) Nel Hydrogen Electrolyser, a division of Nel ASA (Nel, OSE:NEL), has signed a framework agreement with leading manufacturer of gas handling solutions, Howden, for supply of hydrogen compressors for Nel’s electrolysers.
“We are pleased to enter into this frame agreement with Howden, which ties into the ambitions we announced at our Capital Markets Day and reiterated in our Q1 2021 report around forming strategic partnerships. Working with Howden allows us to optimize our offerings towards existing and future customers” says Jon André Løkke, chief executive officer of Nel.
The non-exclusive frame agreement with Howden is an important step towards achieving Nel’s cost target of green hydrogen production at USD 1.5/kg. The two companies will work closely together to develop cost competitive hydrogen compressor systems for Nel’s industry leading electrolysers.
Ross Shuster, Howden’s CEO, comments: “We are delighted to enter into this agreement with Nel as it illustrates achievements already made in integrating Howden’s hydrogen compression solution with Nel’s electrolysers to lower the life-cycle cost of production and accelerate the adoption of hydrogen as a zero-carbon fuel.”
Howden is a leading provider of mission critical air and gas handling products, technologies and services.. With the power of engineering expertise and technology, Howden’s equipment provides safe and reliable solutions that are both sustainable and efficient. Howden supports multiple sectors including infrastructure, power generation, oil & gas, wastewater, metals, mining and transportation.
ENDS
For further information, please contact:
Jon André Løkke, CEO, +47 907 44 949
Kjell Christian Bjørnsen, CFO, +47 917 02 097
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. Our roots date back to 1927, and since then, we have had a proud history of development and continuous improvement of hydrogen technologies. Today, our solutions cover the entire value chain: from hydrogen production technologies to hydrogen fueling stations, enabling industries to transition to green hydrogen, and providing fuel cell electric vehicles with the same fast fueling and long range as fossil-fueled vehicles - without the emissions.