Finding a way to make Green Hydrogen cheaply has often been described as the holy grail of green energy transition, and now it could be as close as just 4 years away.
Nel Hydrogen is building a fully automated hydrogen manufacturing facility at Heroeya in southern Norway and aims to expand the production capacity allowing it to get the cost down.
“By installing the first 500 MW line we will cut the cost approximately in half, and when we add additional lines… we should be able to cut the cost by almost half again,” so says CEO Jon Andre Loekke.
“Achieving this would allow green hydrogen to start to reach fossil parity, representing one of the most significant achievement for zero-emission solutions and a carbon neutral planet”.
Nel makes electrolysers used to produce green hydrogen from water rather than from fossil fuels, and also hydrogen fuelling equipment.
Hydrogen is the future green fuel of choice as it does not produce greenhouse gas emissions when it burns.
Not surprisingly Nel’s share price has risen by 200% in the last year, giving it a market value of 45 billion crowns ($5.3 billion).
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