NEL ASA: Initiates Feasibility Partner Study for Large-Scale Hydrogen Production in Norway

Regulatory News:

NEL ASA (OSE:NEL)

NEL ASA (NEL) has together with SINTEF, Statoil, Linde Kryotechnik, Mitsubishi Corporation, Kawasaki Heavy Industries, NTNU and The Institute of Applied Energy, among others, initiated the project "Hyper”, a feasibility study of the potential for large scale hydrogen production in Norway for export to the European and Japanese markets. The project has received a 14 MNOK grant from the ENERGIX-programme of the Research Council of Norway.

"We are proud to announce the initiation of Project Hyper with SINTEF and our partners. The exploration of large-scale hydrogen production in Norway for European and Japanese markets has significant potential. We are looking at a scenario in which production of 225 000 tons of hydrogen could fuel as many as three million cars annually. We are looking forward to contribute to the project with our world-wide and extensive experience within hydrogen production from renewable energy," says Bjørn Simonsen, market development director of NEL.

SINTEF Energy Research is the host organisation and the lead research partner for Project Hyper. The aim of the project is to study the feasibility, as well enable the planning, construction, and operation of a commercial decarbonised hydrogen production, liquefaction, and export facility based on Norwegian fossil- and renewable energy resources.

"Project Hyper gives us a unique possibility to investigate and gain a deeper understanding of the different technological elements and interactions within hydrogen production. It is a strength for the project that we have major industry partners with us, and is an opportunity to utilise their competence and commercial insight within this area", says Chief Scientist at SINTEF Energy Research, Dr. Petter Nekså.

Project Hyper is planned and financed throughout 2019. The total project cost is estimated at 20 MNOK. It is funded by a 14 MNOK grant from the Research Council of Norway (ENERGIX), in addition to the contributions from the project partners.

"One of aims of the project is to develop cost-efficient means for decarbonised value creation from Norwegian energy resources", says David Berstad, researcher at SINTEF.

About NEL

NEL ASA is the first dedicated hydrogen company on the Oslo Stock Exchange. NEL has its roots from the hydrogen technology developed by Norsk Hydro, and has since 1927 had a proud history of continual delivery and improvement of hydrogen technologies. NEL is today through the daughter companies of NEL Hydrogen AS and H2 Logic A/S a global supplier of hydrogen solutions, covering the entire value chain from hydrogen production technologies to hydrogen refuelling stations. www.nel-asa.com

About SINTEF

SINTEF is the largest independent research organisation in Scandinavia. We create value and innovation through knowledge generation and development of technological solutions that are brought into practical use. www.sintef.no

This information was brought to you by Cision http://news.cision.com

View source version on businesswire.com: http://www.businesswire.com/news/home/20160412006931/en/