Norway's Nel announces green hydrogen JV

Nel Fuel AS, part of Norwegian hydrogen technology firm Nel ASA (OSE:NEL) said on Friday it has formed a renewable hydrogen joint venture (JV) with H2 Energy AS, Greenstat AS and Akershus Energi Infrastruktur AS.

The JV is called Green H2 Norway and all parties have an equal share in it. The partners are looking to construct a number of facilities for production of renewable hydrogen across Norway, according to the statement. The first project is due to begin next year, as part of which the JV will explore sector coupling aspects of large-scale electrolysis based hydrogen production. The first facility is to be built near Oslo, serving the Oslo/Akershus region.

Green H2 Norway plans to be Norway's exclusive supplier of green hydrogen for trucks manufactured by Hyundai Motor Co (KRX:005380), which are expected in the country from 2020.

"We also see hydrogen trucks and buses becoming available in large numbers and car manufacturers scaling up the production volumes,” said Jon André Løkke, Nel's CEO.

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