Nel signs significant deal with Samsung C&T for nuclear hydrogen project

On December 3, 2024, Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA, secured a new contract with Samsung C&T Corporation Engineering & Construction Group for the provision of 10 MW of alkaline electrolyser equipment, valued at approximately EUR 5 million. This contract is intended for a pilot project aimed at producing 'pink' hydrogen, which utilizes excess nuclear power, showcasing innovations in sustainable energy practices in Korea. The new order follows a previous agreement earlier in the year, where Nel delivered equipment for an off-grid solar power project by Samsung C&T, highlighting the increasing collaboration between the two companies in the green hydrogen sector. By integrating excess nuclear energy into hydrogen production, the project aims to enhance overall energy efficiency and tackle energy waste during overload periods, positioning Nel's technology as critical in driving forward clean hydrogen initiatives. Furthermore, this partnership is also significant as it marks the first hydrogen production project in Korea using nuclear power, indicating a shift towards diverse energy solutions and a commitment to reducing carbon emissions in industries reliant on hydrogen, such as transportation and refining. By employing Nel's advanced electrolysis technology, Samsung C&T aims to demonstrate the commercial viability of nuclear-connected hydrogen production, reinforcing their ambition to lead in the green hydrogen industry. The project anticipates future collaborations, signaling ongoing progress in developing clean energy solutions that utilize existing infrastructure efficiently, while also exhibiting both companies' strategic effort to contribute to the global energy transition.