According to Nel, the world’s first completely automated electrolyzer manufacturing system for renewable hydrogen has been completed.
The new plant, which is located on the Norwegian peninsula of Herøya, has a capacity of 500 megawatts. According to a news statement from Nel, the capacity might be increased to two GW if more investments are made. That is a large portion of Nel’s goal of 10 GW capacity by 2025.
“Nel is also investing extensively in the development of ideas of 800 MW and beyond, based on 20, 100, and 200 MW bricks,” stated Jon André Lkke, CEO of Nel, during the opening.
Nel seeks to lower electrode production unit costs by “enlarging and automating” the process. By 2025, green, renewable hydrogen should be as cheap to create as natural gas-based hydrogen, according to Nel.
Green hydrogen will be delivered for a cost of 1.5 US dollars per kilogram, according to the hydrogen expert. According to the press release, investment expenses would first have to be cut to a fourth of their present level.
The stock price rises by more than 7% on the day the plant opens. The stock had achieved a price of EUR 1.72 per share at lunchtime.
