Nel ASA: Receives additional USD 75 million in support for Michigan facility
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"The support from the Department of Energy and the state of
"It is encouraging to see the Department of Energy taking these strategic steps to stimulate a clean energy economy, and we appreciate their long-time support to take our products from R&D to commercial products," he says.
On 13 March, the Department of Energy announced that they have granted Nel
In parallel, the state of
"By harnessing our Make it in Michigan Competitiveness Fund and partnering with the Biden-Harris Administration, we are creating more than 500 good-paying, high-tech jobs in
"Today's announcement is another example of how
Nel has previously been awarded approximately
Fully built out, the
A final investment decision has not yet been made and depends on market demand for electrolysers.
For additional information, please contact:
Kjell Christian Bjørnsen, CFO, +47 917 02 097
Lars Nermoen, Head of Communications, +47 902 40 153
About Nel ASA | www.nelhydrogen.com
Nel has a history tracing back to 1927 and is today a leading pure play hydrogen technology company with a global presence. The company specializes in electrolyser technology for production of renewable hydrogen, and hydrogen fueling equipment for road-going vehicles. Nel's product offerings are key enablers for a green hydrogen economy, making it possible to decarbonize various industries such as transportation, refining, steel, and ammonia.
This information is subject to a duty of disclosure pursuant to Section 5-12 of the Norwegian Securities Trading Act. This information was issued as inside information pursuant to the EU Market Abuse Regulation, and was published by Kjell Christian Bjørnsen, Chief Financial Officer, at NEL ASA on the date and time provided.
Forward-looking statements: This announcement contains certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
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SOURCE NEL ASA
FAQ
What incentives and grants did Nel ASA receive?
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