Nel Gets $56.1 Million Equipment Order For US Project

By Dominic Chopping

Nel ASA said Saturday that its Nel Hydrogen Electrolyser AS subsidiary has got a deal worth 600 million Norwegian kroner ($56.1 million) for alkaline electrolyser equipment from Woodside Energy Group Ltd.

The equipment has been ordered for Woodside Energy's proposed H2OK hydrogen project in Oklahoma, U.S., where it plans to produce liquid hydrogen for hydrogen fuel cell-powered commercial and heavy transport vehicles.

Woodside Energy is looking to expand its U.S. footprint and is also working on two proposed hydrogen projects in Australia: H2Perth and H2Tas.

"The electrolyser market is developing favorably for Nel," said Nel Chief Executive Hakon Volldal.

"We are now securing quality contracts with favorable terms and a manageable risk profile. The contract with Woodside will have a substantial positive financial impact on the company."

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

October 17, 2022 02:25 ET (06:25 GMT)

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