Samsung E&A acquires equity in Norwegian hydrogen company Nel

Samsung E&A, a total solutions provider for the global energy industry, has announced its full-scale entry into the green hydrogen market with the acquisition of 9.1% stake in Norwegian hydrogen company Nel ASA for approximately US$33 million and signed a strategic partnership agreement for strategic collaboration.

Headquartered in Norway, Nel is a global leader in hydrogen technology with a history tracing back to 1927. It offers various electrolyser solutions for hydrogen production based on renewable energy. Nel stands out in the industry having a presence on the two only commercially ready electrolyser technologies, alkaline water electrolyser (AWE) and proton exchange membrane electrolysis (PEM), with extensive project experience worldwide on both platforms. The company is also developing next-generation, high-performance, solutions on both technologies.

Through this collaboration, Samsung E&A adds it aims to develop an integrated technology solution for hydrogen production plants by combining differentiated technologies and capabilities of both companies. Based on this, it plans to lead the green hydrogen plant market and expand its business to include installing and operating electrolysers.

In particular, green hydrogen production technology using electrolysers is a gateway technology for synthesising green ammonia, green methanol, and e-fuel, therefore an essential technology for the ultimate energy transition. The global eco-friendly energy market, including sustainable aviation fuel (SAF), ammonia, and methanol, is attracting attention as a next-generation marine fuel, rapidly expanding due to the global decarbonisation trend and environmental regulations in key countries. Accordingly, Samsung E&A plans to secure a preemptive technological position in the green hydrogen market by establishing a long-term partnership with Nel.