Consignment of 40 MW Electrolyzer Equipment Sent to Hycc by Nel ASA

Nel ASA Secures Purchase Order for 40 MW Alkaline Electrolyser Equipment

HyCC, in collaboration with SkyNRG and its partners, is moving closer to a final investment decision (FID) in 2024, with Nel ASA selected as a key partner for the delivery of 40 MW alkaline electrolyser equipment for the project in Delfzijl, Netherlands.

This significant development for Nel ASA will contribute to the decarbonization of the aviation industry, as the equipment will be used in HyCC's Heron project. The news was published pursuant to the EU Market Abuse Regulation and was issued by Wilhelm Finder, Head of Investor Relations, at Nel ASA on February 6, 2023.

Nel ASA, a global dedicated hydrogen company, delivers solutions for hydrogen production, storage, and distribution from renewable energy. The company's headquarters is located in Oslo, Norway, and its hydrogen solutions cover the entire value chain, from hydrogen production technologies to manufacturing of hydrogen fueling stations.

The purchase order from HyCC is estimated to be worth approximately EUR 12 million. The electrode production for the alkaline electrolyser equipment is expected to commence in Q4 2025.

Nel's Chief Project Officer, Hans Hide, stated that the Heron project will have a significant impact on reducing emissions from the aviation sector. Marcel Galjee, Managing Director of HyCC, emphasized the importance of reliable green hydrogen supplies for decarbonizing sectors like the aviation industry.

Kraftanlagen Energies & Services has been contracted for the FEED study related to the project. Alfons Weber, CEO of Kraftanlagen Energies & Services, expressed excitement about moving to the next phase of the project with strong partners to establish the foundation for the new hydrogen economy.

SkyNRG will use the produced hydrogen to create sustainable aviation fuel (SAF) from industrial byproducts and residue streams. This collaboration aims to reduce the carbon footprint of the aviation sector and contribute to a more sustainable future.

For the latest news shaping the hydrogen market, visit Nel ASA's website. Nel is excited to work with Kraftanlagen Energies & Services on the Heron project, as they move towards the FID in 2024. The news is subject to a duty of disclosure pursuant to Section 5-12 of the Norwegian Securities Trading Act.