S'abonner
PROFILE

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.

Share:

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.

  • Popular on energynews.pro
Nscale, Aker and OpenAI launch Stargate Norway, a 100,000 GPU AI infrastructure project in Norway
Pacific Green signs 1.5GWh agreement with ZEN Energy for energy storage in Australia
Japanese refiners face critical challenge of Middle Eastern oil dependency
Avangrid and Tyba accelerate battery storage mapping on the US market
South Korea and Norway launch study on i-SMR nuclear mini-reactors
FRV partners with Envision for a 500MW green ammonia project in Brazil
Fotowatio Renewable Ventures joins forces with Envision Energy for the H2 Cumbuco project, aiming for a 500MW green ammonia plant targeting Brazilian, European, and Asian markets.
Element 2 entrusts HRS with a new mobile hydrogen station for the Glasgow region
Element 2 strengthens its partnership with HRS to install a mobile hydrogen station in Glasgow, as part of its expansion strategy for its refuelling network in the United Kingdom and Ireland.
Allianz anticipates a hydrogen insurance market exceeding USD3bn by 2030
Global hydrogen development, supported by more than 1,500 ongoing projects and significant investments, is driving strong demand for insurance coverage, with potential estimated at over USD3bn in annual premiums by 2030.
ArcelorMittal Brazil launches innovative hydrogen project with Utility Global in Juiz de Fora
ArcelorMittal Brazil begins a collaboration with Utility Global to develop a clean hydrogen project using the patented H2Gen system, aimed at producing up to 3 tons per day at the Juiz de Fora plant.
ENERTRAG invests €300 mn in 130 MW green hydrogen site in Prenzlau
ENERTRAG announces the acquisition of a plot in Prenzlau to install a 130 megawatt green hydrogen production unit, with a planned investment of €300 mn, thereby supporting the regional economy and local industrial sector.
H2APEX raises EUR30mn to boost Lubmin hydrogen project and acquire HH2E Werk
H2APEX Group SCA has completed a EUR30mn ($32.5mn) capital increase to finance the acquisition of HH2E Werk Lubmin GmbH and support the development of its hydrogen project in Germany. —
Next Hydrogen launches Ontario’s largest onsite clean hydrogen refuelling station
Next Hydrogen launches the largest onsite clean hydrogen production and distribution station in Ontario, capable of supplying up to 650 kg per day for powering fuel cell forklifts.
Envision Energy launches the world’s first green ammonia marine bunkering in China
A 5,500-horsepower harbour vessel was bunkered with green ammonia at the Dalian terminal, marking the creation of a full value chain for this fuel and a technical milestone for the maritime sector.
Air Liquide invests over €500 mn in giant electrolyser in the Netherlands
Air Liquide begins construction of the ELYgator electrolyser in Rotterdam, a 200 MW project, supported by the Dutch government and an investment exceeding €500 mn.
German researchers test offshore green hydrogen production using raw seawater
A pilot project in Germany aims to produce green hydrogen at sea directly from untreated seawater on offshore wind farms, using marine bacteria and robust materials.
BP ends its involvement in the 26 GW AREH hydrogen project in Western Australia
BP withdraws from the Australian Renewable Energy Hub, a major renewable hydrogen and ammonia project in the Pilbara region, marking a new stage for energy investments in Australia.
Next Hydrogen secures CAD1.5mn financing to support its operations
Next Hydrogen raises CAD1.5mn from its management and a commercial lender to strengthen its cash flow and retain teams, while maintaining its review of financial and strategic solutions.
Lhyfe raises €2.5mn from citizens to support green hydrogen in Europe
The first European citizen funding campaign dedicated to green hydrogen enabled Lhyfe to collect €2.5mn from nearly 1,200 investors, strengthening the development of new sites in France and Germany.
The Future of Energy Flexibility: The Growing Role of Power-to-Hydrogen-to-Power (PtP) Technology
In the face of renewable energy intermittency, Power-to-Hydrogen-to-Power (PtP) technology could revolutionize energy storage. However, its adoption still depends on cost reduction and efficiency improvements.
South Korea’s YPP to invest up to $3.1B in green hydrogen production in Kazakhstan
South Korean company YPP and Kazakh Invest have signed a framework agreement for the development of a green hydrogen production project in Kazakhstan, with investments potentially reaching $3.1 billion.
HyCC secures Dutch subsidy for its 90 MW H2eron hydrogen project
The Dutch government has granted major funding to HyCC for its H2eron electrolysis project, aimed at producing renewable hydrogen in the Delfzijl industrial zone.
Saudi Arabia signs agreements to export green hydrogen and electricity to Europe
ACWA Power has signed several agreements with European partners to develop a green energy export chain between Saudi Arabia and Europe, as part of the India-Middle East-Europe Economic Corridor project.
Stellantis ends its hydrogen van programme as market outlook remains limited
Manufacturer Stellantis halts production of its hydrogen-powered commercial vehicles, citing a lack of commercial prospects and an insufficient market, according to a statement released by the automotive group.
TNB, Petronas and Terengganu Inc launch green hydrogen hub and hybrid solar in Malaysia
Malaysia reaches a decisive milestone in its energy roadmap with the launch of a hybrid floating hydro-solar project and the first large-scale green hydrogen hub in the state of Terengganu.
Hynamics UK and Hy24 join forces for £300mn green hydrogen project in Fawley
Hynamics UK and Hy24 have signed an exclusive agreement to develop the Fawley Green Hydrogen project, backed by the UK HAR2 scheme, to supply green hydrogen to ExxonMobil's petrochemical complex.