Nel Hydrogen Inc. Signs $17 Million Agreement for Delivery of 16 Hydrogen Fueling Stations

Nel ASA’s subsidiary, Nel Hydrogen Inc., has signed a Capacity Reservation Agreement (CRA) with an undisclosed US energy company for the delivery of 16 hydrogen fueling stations. The value of the CRA is estimated to be around $7 million, and the final purchase order including the CRA fee is expected to be around $17 million. Manufacturing of the equipment will begin when a final purchase order is signed, and delivery is scheduled to start in Q4 2023 and continue throughout 2024. In summary, Nel Hydrogen Inc. has agreed to provide 16 hydrogen fueling stations to an undisclosed US energy company for a total estimated cost of $17 million.

Hydrogen as a Renewable Fuel Source

Hydrogen is quickly becoming an important renewable energy source due to its abundance and versatility. It can be used in fuel cells to generate electricity, and burned in internal combustion engines for transportation. Hydrogen can also be used in homes and businesses to heat water, cook food, and provide other forms of energy. Hydrogen-powered vehicles are now available from many major car manufacturers, making them more accessible than ever before. In addition, hydrogen is a clean-burning fuel that produces no emissions when burned, making it an ideal choice for reducing air pollution. With its many benefits, it’s no wonder hydrogen is becoming an increasingly popular renewable energy source.
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Picture source: Ronnie George