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RIL Secures Exclusive License for Nel’s Alkaline Electrolysers in India

24 May 20243 mins read by Angel One
RIL and Nel Hydrogen Electrolyser AS signed a technology licensing agreement, granting RIL exclusive rights to manufacture and use Nel’s alkaline electrolysers in India and globally.
RIL Secures Exclusive License for Nel’s Alkaline Electrolysers in India
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On May 21, 2024, Reliance Industries Limited (RIL) informed the exchanges that the company and Nel Hydrogen Electrolyser AS had entered into a technology licensing agreement.

The agreement offers RIL an exclusive licence for Nel’s alkaline electrolysers in India and also allows RIL to manufacture Nel’s alkaline electrolysers for captive purposes globally. Nel Hydrogen Electrolyser AS is a fully owned subsidiary of Nel ASA, a leading pure-play hydrogen technology company with a global presence.

Reliance Industries is a Fortune 500 company and the largest private-sector company in India. The company is well-known for executing large-scale projects and making substantial investments in technology and innovation.

RIL is developing a comprehensive multi-GW new energy value chain, covering everything from photon capture to green molecules. This initiative, aligned with the vision of Chairman and Managing Director Mr Mukesh Ambani, aims to provide abundant and affordable sustainable energy for all.

Green hydrogen is a crucial component of this new energy value chain, and the partnership between RIL and Nel on alkaline electrolysers marks a significant milestone in advancing towards a sustainable energy future.

Through this partnership, Reliance gets access to Nel’s leading, proven technology platform to manufacture electrolysers. RIL has successfully developed several businesses on a complete global scale. The collaboration between Nel’s robust technology platform and RIL’s execution expertise will further contribute to the success of both partners.

Both partners will also team up on future performance progress and cost optimisation

Via research and development (R&D), value engineering, standardisation and modularisation to enhance the competitiveness of the alkaline technology platform.

As per the agreement, Nel can procure equipment from Reliance for its own projects. Nel will continue to serve the Indian market with technology platforms that are not covered by the agreement.

Speaking of this partnership, the President and CEO of Nel ASA, Håkon Volldal, said, “The signing of this agreement is a great milestone in Nel’s history. Reliance is an impressive company with enormous ambitions as a global producer of renewable hydrogen, and I am proud that they have selected Nel as their technology partner. In addition to supporting Reliance in achieving their global aspirations, Nel will, through this agreement, get a revenue stream from a rapidly growing market Nel could not have accessed on its own.”

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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