Technology will once again be at the forefront of hydrogen promotion in India.
Nel Hydrogen Electrolyser has entered into a technology licensing agreement with Reliance Industries. Nel is a fully-owned subsidiary of Nel ASA
Reliance will acquire an exclusive license for Nel’s alkaline electrolyzers in India, enabling global production for captive purposes under the technology licensing agreement.
Both partners will also collaborate on future performance improvements and cost optimization through research and development (R&D), value engineering, standardization, and modularization to improve the competitiveness of the alkaline technology platform.
According to the agreement, Nel can procure equipment from Reliance for its projects. Nel will continue to serve the Indian market with technology platforms that are not covered by the agreement, the company said in a press release.
“The signing of this agreement is a great milestone in Nel’s history. In addition to supporting Reliance in achieving its global aspirations, Nel will through this agreement get a revenue stream from a rapidly growing market it could not have accessed on its own,” said, Håkon Volldal, President and CEO, Nel.