Nel ASA partners with SAMSUNG E&A for hydrogen projects

Norway-based Nel ASA has signed a collaboration agreement with SAMSUNG E&A to offer complete hydrogen plants using Nel’s electrolysers. SAMSUNG E&A will purchase 10% of newly issued Nel ASA shares, becoming the largest shareholder with a 9.1% stake. The agreement allows SAMSUNG E&A to develop hydrogen plant designs based on Nel’s technology, enhancing global delivery capabilities. The transaction is valued at NOK 353 million, with shares priced at NOK 2.1125 each. SAMSUNG E&A will also nominate a member to Nel’s Board of Directors.