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Nel, a Norwegian hydrogen firm, has raised 1.61 billion Norwegian crowns ($154.70 million) through the private placement of 108 million new shares at 14.90 crowns each, or 9% less than the stock’s closing price in Oslo.

A draft Memorandum of Understanding (MoU) between the National Energy Administration of China and the Saudi Ministry of Energy in the area of clean hydrogen energy was authorized by the Shoura Council. This came after the council’s Energy and Industry Committee had presented a report on the subject.