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scale-up of production to multi-GW scale, growing the organization to add
capacities and capabilities, and investing in technology for the near- and long
-term are crucial components in ensuring that Nel continues to be the global
leader in the hydrogen industry.
“Green renewable hydrogen is set to outcompete fossil alternatives, and Nel is
placed in the centre of this transition. We’re today launching our target which
should enable our customers in certain markets to produce green renewable
hydrogen from a large-scale Nel facility at 1.5 USD/kg from low cost renewable
power, already within 2025. Achieving this would allow green hydrogen to start
to reach fossil parity, representing one of the most significant achievement for
zero-emission solutions and a carbon neutral planet,” says Jon André Løkke,
Chief Executive Officer of Nel.
Nel’s Capital Markets Day 2021 (CMD) outlines the strategy and ambitions towards
2025, addressing the current hydrogen market of 70 million tons, which, by the
Hydrogen Council, is expected to grow by 8-times by 2050, largely based on green
hydrogen.
“The hydrogen market is already large, but with only a fraction served by
electrolysis, there are significant opportunities to turn the existing market
green. In addition, we see a regulatory landslide across the globe, with the EU
and the US pledging hundreds of billions of dollars into their zero-emission
programs where hydrogen serves a vital part as the energy carrier of choice. The
growth will not only come from industrial applications, but also from
transforming the current diesel-based heavy-duty transportation to run on zero
-emission and cost-efficient green hydrogen. These developments require low-cost
electrolysis and ultra-fast fueling, both areas where Nel is the global leader,”
Løkke adds.
Taking electrolysis to GW-scale
Nel is expanding the electrolysis production to accommodate large-scale projects
by constructing a fully automated manufacturing facility at Herøya, Norway. Test
production of the first 500 MW production line will commence in the second
quarter of 2021 with start of commercial ramp-up in the third quarter 2021.
Based on the secured facility at Herøya, Nel today outlines the potential to
expand the production capacity at this facility beyond 2 GW annually.
“Herøya represents the first industrial-scale production of the most efficient
electrolysers on the market, at a game-changing low cost. The Nel team is
continuously working to drive down the cost of hydrogen, where scale-up is key,
and will continue to assess the exact timing for the next expansion step. A 2 GW
production capacity of electrolysers would represent a potential of four-to-five
million tons of CO\2 \reductions for our customers, or ten percent of the annual
CO\2 \emissions in Norway,” says Jon André Løkke, and continues:
“Nel uniquely covers both PEM and alkaline technologies, each with their
respective advantages, and we will continue give them our full support and equal
priority. The technology roadmap highlights our priority on large
-scale products, continuous improvements, and lowest total cost of ownership for
our customers. The hydrogen industry will become increasingly competitive and
Nel therefore needs to continue to invest in organization, technology, and
equipment to remain in the forefront of the industry.”
Price and ultra-fast fueling is key to outcompete diesel
Nel has delivered more than 110 hydrogen fueling stations (HRS), H2StationsT, in
13 different countries. The global HRS market is expected to grow by 30 percent
annually towards 2030, with 11,000 installed fueling stations, in addition to
solutions for fueling of private trailer parks, trains, ferries, etc.
“The only way to transform heavy-duty transportation is to beat diesel at the
pump. In addition to green hydrogen reaching fossil parity at production, we
have to enable fast fueling of hydrogen in a reliable and cost-efficient manner
to be able to beat fossil alternatives. Nel has a technology roadmap enabling
fueling in 10-15 minutes of a heavy duty truck to achieve a range of 1,000 km,
and we are in a good position to continue to lead the hydrogen fueling
industry,” Jon André Løkke says.
Reiterates strong market outlook
Nel reiterates the confidence in the long-term potential for the industry,
supported by the “green recovery” outlined by various governmental initiatives.
The company aims to capitalize on the opportunities by leveraging on the
position as a technology front-runner, continued high focus on safety, global
presence, scalability, cost leadership, strong financing, and preferred-partner
status for industry participants.
“Large opportunities also represent major challenges for Nel going forward, as
maintaining a leadership position requires large investments, rapid expansion of
the organization, and execution of large-scale projects across the globe in an
increasingly competitive environment. In 2021 alone, we will add more than 100
new colleagues, deploy over 25% of the capital raised in 2020 in plant,
equipment, and technology development projects, and add more capacity as
required by the market. The Capital Markets Day will unveil how Nel will address
these challenges, as an emission-free future depends on green hydrogen,” Løkke
concludes.
Event information for Nel Capital Markets Day 2021
Time: 08:00 - around 11:15 CET
Date: 21 January 2021Streaming details:
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20210121_3, or
www.nelhydrogen.com/CMD
Programme and speakers:
· Jon André Løkke, CEO, The global market leader
· Erik Løkke-Øvre, VP Operations Alkaline, Taking electrolysis to GW-scale
· Filip Smeets, SVP Electrolyser, Nel electrolyser activities
· Mikael Norlander, SVP Vattenfall/Hybrit
· Jørn Rosenlund, SVP Fueling, Nel fueling station activities
· Joseph S. Cappello, CEO Iwatani Corporation of America
· Anders Søreng, CTO, Next generation technologies
· Kjell Christian Bjørnsen, CFO, Financials and ESG
· Jon André Løkke, CEO, Summary and outlook
The presentation for the CMD is enclosed and the event will be concluded with a
Q&A session. Questions can be submitted throughout the CMD.
ENDS
For further information, please contact:
Jon André Løkke, CEO, +47 907 44 949
Kjell Christian Bjørnsen, CFO, +47 917 02 097
About Nel ASA | www.nelhydrogen.com
Nel is a global, dedicated hydrogen company, delivering optimal solutions to
produce, store, and distribute hydrogen from renewable energy. We serve
industries, energy, and gas companies with leading hydrogen technology. Our
roots date back to 1927, and since then, we have had a proud history of
development and continuous improvement of hydrogen technologies. Today, our
solutions cover the entire value chain: from hydrogen production technologies to
hydrogen fueling stations, enabling industries to transition to green hydrogen,
and providing fuel cell electric vehicles with the same fast fueling and long
range as fossil-fueled vehicles - without the emissions.
*Assumptions: Nel analysis based on electricity of 20 $/MWh, >8% cost of
capital, cost of land, civil works, installation, commissioning, building water
etc., lifetime 20 years incl. O&M cost, at 30 bar.
Kilde
