Hydrogen compressors: Green hydrogen at a low price: NEL ASA enters into cooperation with Howden | message
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• NEL ASA with numerous partnerships
• Green hydrogen should become cheaper
• NEL-Howden partnership within the framework of the EU strategy
NEL ASA works with cooperation partners
The Norwegian hydrogen company NEL ASA has big plans: The group is pursuing the goal of reducing the cost of green hydrogen to 1.50 US dollars per kilogram. Green hydrogen is created when renewable energies such as wind and solar energy are used to split the water. This is to be supported by means of cooperation with well-known large companies such as Mitsubishi, Hyundai, Nikola and Yara International. In order to move forward in this endeavor, NEL ASA has now added another entry to its list of cooperation partners. An agreement was recently reached with Howden, the leading manufacturer of gas handling solutions, on a framework agreement to ensure the supply of hydrogen compressors, as the Oslo-based company announced in a press release. These are used for NELs electrolysers. Howden’s compressors are designed to make hydrogen production cheaper so that NEL ASA gets closer to its goal.
Offer optimization through Howden partnership
“We are pleased to enter into this framework agreement with Howden. It is in line with the ambitions that we announced at our Capital Markets Day and confirmed in our report on the formation of strategic partnerships for the first quarter of 2021,” said NEL ASA CEO Jon André Løkke as part of the announcement. At the announcement of the latest balance sheet, the company management announced that it would expand its cooperation with other companies and also increasingly promote new partnerships in order to increase the company’s global delivery and project capacities. In addition, this aspect was neglected at the beginning of the corona pandemic, as travel restrictions and other measures to contain the virus have made contact with other companies more difficult. “The cooperation with Howden enables us to optimize our offer for existing and future customers,” said Løkke optimistically.
Partnership benefits from EU strategy for hydrogen solutions
Howden CEO Ross Shuster also welcomed the partnership. “We are very excited about this agreement with NEL as it illustrates the success already achieved in integrating Howden’s hydrogen compression solution with NEL’s electrolysers to reduce production life-cycle costs and accelerate the adoption of hydrogen as a carbon-free fuel,” explained the managing director in a press release. It is especially the reliability, efficiency and safety of Howden’s compressors that qualify the British group as the perfect partner for NEL ASA. The aim is to jointly support the European Union’s hydrogen strategy. The association of states wants to have installed at least six gigawatts of renewable hydrogen electrolysers in the EU by 2024, and at least 40 gigawatts by 2030. With the new partnership, both NEL ASA and Howden could benefit from the advancing hydrogen trend.
Finanzen.net editorial team
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