- Business
- Nel ASA, headquartered in Oslo, Norway and founded in 1927, develops and supplies hydrogen technology solutions including alkaline and proton exchange membrane (PEM) electrolysers for green hydrogen production, hydrogen fueling stations under the H2Station brand for fuel cell electric vehicles, and related hydrogen storage and distribution equipment; the company operates manufacturing facilities in Heroya, Norway for alkaline electrolysers with 1 GW annual capacity, Wallingford, USA for PEM electrolysers, and Herning, Denmark for fueling stations, serving industries such as refining, steel, ammonia, fertilizer, cement, transportation, maritime, and energy sectors across more than 80 countries including North America, Europe, Asia, Africa, South America, and Oceania. Nel's Nel Hydrogen Electrolyser division provides atmospheric and pressurized alkaline electrolysers as well as PEM stacks and systems for large-scale renewable hydrogen projects; its Nel Hydrogen Fueling division delivers standardized and modular hydrogen refueling infrastructure supporting fast fueling for cars, buses, trucks, and heavy-duty applications equivalent to conventional vehicles. In March 2025, Nel signed an EPC collaboration agreement with SAMSUNG E&A enabling integrated hydrogen plant offerings using Nel's electrolysers, accompanied by a NOK 353 million private placement granting SAMSUNG E&A a 9.1% stake as the largest shareholder; the company also received a EUR 135 million European Innovation Fund grant in October 2024 for next-generation pressurized alkaline electrolyser industrialization at Heroya, secured a PEM purchase order exceeding USD 50 million from the HyFuel and Kaupanes projects, and fulfilled orders including US Navy oxygen generation stacks and electrolysers for Glencore and GreenH's 20 MW projects in Norway. Previously known as DiaGenic ASA until its rebranding in October 2014, Nel traces roots to Norsk Hydro's hydrogen activities and spun out its fueling division as Cavendish Hydrogen in recent years to focus on pure-play electrolyser leadership.