Expanding production capacity in Wallingford

OSLO, Norway, Feb. 28, 2023 /PRNewswire/ — Nel ASA (Nel), (OSE: NEL) has taken the ultimate financial investment choice to grow the manufacturing ability at its PEM electrolyser production facility in Wallingford, Connecticut. The growth will carry once-a-year generation potential toward 500 MW in 2025.

“This is an critical milestone for Nel,” says Nel’s CEO, Håkon Volldal. “With this expansion, we will increase PEM generation capacity substantially and simultaneously minimize stack price tag and enhance stack effectiveness.”

The expenditure value is approximated at about NOK 260 million, and the new manufacturing line is envisioned to get to nameplate capability in 2025.

“Previous 12 months we opened the world’s very first entirely automated alkaline electrolyser plant in Herøya, Norway. Now we will industrialize the PEM platform, and the expansion in Wallingford is an critical initially action,” suggests Volldal.

The progress of the ~500 MW PEM manufacturing line will be a significant contributor to even further expansion designs in the US, in which producing a quality generation thought is crucial for making ready Nel’s prepared Gigafactory.

The planned Gigafactory will have a prospective of up to ~4 GW manufacturing potential, dispersed amongst both PEM and Alkaline.

“We are thinking about three interesting options in a few distinct states and will make a ultimate final decision soon,” states Volldal.

Nel is also expanding in Norway. The business just lately started out developing the next generation line at the Herøya facility, and the production ability is predicted to attain somewhere around 1 GW in April 2024.

“For the duration of the previous months, we have received significant invest in orders for significant-scale electrolyser projects. Therefore, we have ramped up generation from three to five shifts, which means that output is now operating about the clock, also on the weekends,” suggests Volldal.

For supplemental information, be sure to make contact with:

Kjell Christian Bjørnsen, CFO, +47 917 02 097
Wilhelm Flinder, Head of Trader Relations, +47 936 11 350
Lars Nermoen, Head of Communications, +47 902 40 153

About Nel ASA | www.nelhydrogen.com

Nel has a historical past tracing back again to 1927 and is today a foremost pure perform hydrogen engineering corporation with a world wide presence. The enterprise specializes in electrolyser technological innovation for production of renewable hydrogen, and hydrogen fueling products for road-going motor vehicles. Nel’s product choices are key enablers for a environmentally friendly hydrogen overall economy, creating it achievable to decarbonize various industries this sort of as transportation, refining, steel, and ammonia.

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