Published by Todd Bush on May 31, 2024
OSLO, Norway, May 30, 2024 /PRNewswire/ -- A subsidiary of Cavendish Hydrogen ASA, itself a subsidiary of Nel ASA (Nel) (OSE: NEL) has received a purchase order from Alperia Greenpower SRL for hydrogen fueling equipment for one site to be used for light- and heavy-duty fuel cell electric vehicles in Bruneck, South Tyrol, Italy.
>> In Other News: Oberon Fuels Appoints First General Counsel to Scale Renewable Fuels
"We are pleased to be chosen by Alperia to be the supplier of their first hydrogen fueling station. It will also be Nel's first H2Station™ installation in Italy, and we are looking forward to deliver and demonstrate our performance and capabilities in this lighthouse project," says Robert Borin, future CEO of Cavendish Hydrogen.
The hydrogen fueling station will primarily be built for the 2026 Winter Olympics to fuel vehicles for the transfer between the Olympic sports facilities. The contract has a total value of around EUR 3.8 million and includes a 2-year service and maintenance contract. The station is scheduled to be operational in the second half of 2025.
Nel is preparing for a potential spin-off of its Hydrogen Fueling activities under the name Cavendish Hydrogen. Subject to Nel's decision to complete the spin-off and pursue the separate listing of Cavendish Hydrogen, the shares in Cavendish Hydrogen are intended to be distributed to the shareholders of Nel as dividend in kind. The decision to spin off and separately list Cavendish Hydrogen has not yet been concluded, and no assurances can be given that it will be completed. However, if such a decision is made, the company plans to conduct the spin-off by the end of the second quarter of 2024. If completed, the shares of Nel (comprising its Electrolyser division) will remain listed on the OSE under the ticker "NEL".
For additional information, please contact:Kjell Christian Bjørnsen, CFO, +47 917 02 097
Nel is a global, dedicated hydrogen company, delivering optimal solutions to produce, store and distribute hydrogen from renewable energy. We serve industries, energy and gas companies with leading hydrogen technology. Since its origins in 1927, Nel has a proud history of development and continual improvement of hydrogen plants. Our hydrogen solutions cover the entire value chain from hydrogen production technologies to manufacturing of hydrogen fueling stations, providing all fuel cell electric vehicles with the same fast fueling and long range as conventional vehicles today.
This information is subject to a duty of disclosure pursuant to Section 5-12 of the Norwegian Securities Trading Act. This information was issued as inside information pursuant to the EU Market Abuse Regulation, and was published by Kjell Christian Bjørnsen, CFO, of NEL ASA on the date and time provided.
This information was brought to you by Cision http://news.cision.com.
The following files are available for download:
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🛠️ BHP, JSW Steel To Explore Use of Carbon Capture Technology in Steelmaking 🏝️ Exxon Mobil’s Landmark Acquisition for Offshore CO2 Capture: A Big Step Toward Carbon Reduction 🚗 ...
Inside this Issue 🌊 ExxonMobil Secures Largest CO2 Offshore Storage Site in the U.S. 🌱 Toyota Showcases Technology Developments Towards a Sustainable Future 💰 DOE's $29M Investment: Advancing Carb...
Inside this Issue 🌍 Scaling Up Carbon Dioxide Storagee to Achieve a Net-Zero Future 💰 Colorado School of Mines and Carbon TerraVault Secure $8.9 Million for CarbonSAFE Project 🤝 Rushnu Signs Two A...
SunHydrogen on Track for 1m² Pilot Demonstration of its Green Hydrogen Panels
CORALVILLE, IA, Oct. 21, 2024 (GLOBE NEWSWIRE) -- SunHydrogen, Inc. (OTCQB: HYSR), the developer of a breakthrough technology to produce renewable hydrogen using sunlight and water, today shared an...
ST. CLOUD, Minn., Oct. 21, 2024 (GLOBE NEWSWIRE) -- NFI Group Inc. (TSX: NFI, OTC: NFYEF, TSX: NFI.DB), a leading independent bus and coach manufacturer and a leader in zero-emission electric mobil...
BESS $350 million + agreement to provide flexible, grid-scale energy storage, advancing renewable energy generation and enhancing the stability of the New South Wales power grid Energy Vault conti...
Vale and Petrobras Sign Agreement to Supply Products Focused on Decarbonization
Vale and Petrobras announced on Friday the signing of a Strategic Alliance Agreement to supply products with a focus on competitiveness and advancing the decarbonization agenda. This agreement, whi...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.