Samsung E&A will become Nel’s largest shareholder and an EPC partner, selling complete hydrogen plants using the Norwegian firm’s electrolyser technology.
Under an EPC collaboration agreement, the South Korean firm will develop its own hydrogen plant designs based on both Nel’s alkaline and PEM electrolyser stack and balance of stack technology.
In a separate agreement, Nel plans to issue 167,132,530 shares to Samsung E&A for NOK 353m ($33.1m) to give the company a 9.1% shareholding in Nel. The share sale is subject to board approval.
Nel and Samsung also plan to work on a larger balance of stack system for alkaline electrolysers.
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