New Energy Risk (NER) has been selected as Topsoe’s insurance partner for its solid oxide electrolysis (SOEC) products to “enhance bankability and enable a lower cost of capital.”
H2 View understands that the deal with NER will support the Danish firm in de-risking their development and customers’ green hydrogen and power-to-X projects that will utilise Topsoe’s SOEC technology, such as First Ammonia.
Furthermore, the deal could improve the rollout timelines of green hydrogen projects to deliver on the growing global demand. The contract will cover technical issues leading to temporary or permanent performance drop where coverage is provided to support cash flow and project revenue.
The partnership between the two companies was announced following the completion of detailed technical due diligence of Topsoe’s SOEC electrolyser technology.
“We see the promise in the hydrogen market and appreciate that Topsoe has put their trust and confidence in NER’s capabilities to deliver value and support customer adoption and financing of their electrolyser technology,” explained Tom Dickson, CEO of NER.
Sundus Cordelia Ramli, CEO of Power-to-X at Topsoe, added, “Our partnership with NER is an important milestone to accelerate the delivery of our customers’ green hydrogen projects and is a testimonial to the confidence in our technology.
“As the insurance provides performance coverage for commissioning, ramp-up and operations it’s a strong de-risking tool supporting customers and investors with increased bankability for projects that involve our SOEC electrolysers.”
Topsoe will deliver SOEC products from its factory in Herning, Denmark, which has begun production with a view to begin commercial supply in Q1 2025.
Read more:Topsoe to begin delivering SOEC modules to First Ammonia from 2025
H2 View subscription
If you’re looking to upgrade your H2 View experience, check out our subscription packages and unlock nearly FIVE YEARS of content.
Even with an essential H2 View subscription, you will gain unlimited access to h2-view.com’s archive of content containing over 11,000 stories, features and interviews – as well as a monthly digital and/or print magazine!
Still need more? Our premium package provides access to all of H2 View’s exclusive webinars on demand!
