Pure-play electrolyser maker building alkaline and PEM stacks plus hydrogen fuelling equipment.
Nel (Oslo Bors: NEL) traces its hydrogen business back to Norsk Hydro's electrolysis work in 1927 and today runs two electrolyser plants — a fully automated alkaline line at Herøya, Norway, and a PEM facility in Wallingford, Connecticut. Herøya is built to scale to 1 GW per year with a roadmap to 4 GW, backed by up to EUR 135 million in EU Innovation Fund grants. In 2025 SAMSUNG E&A bought roughly 10% of newly issued Nel shares and signed an EPC collaboration; their joint CompassH2-A+ product packages Nel's pressurised alkaline stacks into containerised 25 MW modules for 100 MW plants at 15 barg. Nel also supplies PEM stack technology under a development agreement with General Motors.
- Headquarters
- Oslo, Norway
- Business model
- Manufacturing
- Ownership
- Public
- Founded
- 1927
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