General Motors Adds Nel As Strategic Collaborator To Commercialize Fuel Cell Technology

(RTTNews) - Nel Hydrogen US, a subsidiary of Nel ASA, has entered into a joint development agreement with General Motors (GM). Nel is a dedicated hydrogen company, delivering optimal solutions to produce, store and distribute hydrogen from renewable energy. By combining GM's fuel cell expertise and Nel's knowledge of electrolyzers, the companies are looking to enable more cost competitive sources of renewable hydrogen.

Nel will be compensating GM for the development work and IP transfer on an ongoing basis and pay a license after successful commercialization dependent on how much of the end product is based on GM technology.

"We believe this collaboration will give us a competitive advantage in industrializing the production of our PEM electrolyzers and further improving the efficiency of our technology," said Nel's CEO, Håkon Volldal.