Samsung E&A acquires 9.1% of Nel ASA and signs a strategic agreement

Samsung E&A invests $33.2 mn in Nel ASA, becoming its largest individual shareholder. The strategic agreement aims to develop hydrogen plants integrating Nel’s electrolysers.

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The South Korean group Samsung E&A has acquired 9.1% of the capital of Nel ASA, a Norwegian electrolyser specialist, through a $33.2 mn capital increase. This transaction, carried out via the issuance of 167,132,530 new shares at a unit price of $0.19, strengthens Samsung E&A’s position in the hydrogen sector.

A partnership for the design of hydrogen plants

The agreement between the two companies provides that Samsung E&A will design and offer its clients complete hydrogen production facilities integrating Nel’s alkaline and proton exchange membrane (PEM) electrolysers. This collaboration aligns with Nel’s strategy, which focuses on developing electrolysers while relying on partners for the supply of complementary equipment.

Samsung E&A strengthens its position in hydrogen

Formerly known as Samsung Engineering, Samsung E&A provides comprehensive engineering solutions, including the design, construction, and commissioning of energy infrastructure. The company is involved in several large-scale hydrogen projects worldwide and aims to reinforce its role in the value chain.

As part of this transaction, Samsung E&A has committed to holding its shares for a two-year period and limiting any increase in its capital stake. The company also plans to propose a candidate for Nel’s board of directors at the upcoming 2025 annual general meeting.

Financial details of the transaction

The share issuance was carried out at a seven-day volume-weighted average price of $0.19 per share. The capital increase was authorised by Nel’s general meeting in April 2024 and is still subject to approval by its board of directors.

This investment represents another step in structuring the global hydrogen market by combining technological expertise and industrial capabilities to meet the growing demand for production infrastructure.

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