Reliance signs alkaline electrolyzer deal with Norway’s Nel

Reliance Industries Ltd (RIL) has announced the signing of a technology licensing agreement for Nel Hydrogen Electrolyser’s alkaline electrolyzers.  Nel Hydrogen Electrolyser is wholly owned subsidiary of Nel ASA. The agreement provides RIL with an exclusive license for Nel’s alkaline electrolysers in India and also allows RIL to manufacture Nel’s alkaline electrolyzers for captive purposes globally.

“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,” said Nel’s president and CEO, Håkon Volldal.

RIL, India’s largest private-sector corporation, targets to become Net Carbon Zero by 2035. A switch to cleaner energy sources is key to its decarbonisation strategy. Accordingly, it is building a multi-GW fully integrated end-to-end new energy value chain, from photon to green molecules.

Through the agreement, Reliance gets access to Nel’s technology platform for manufacturing electrolyzers.

“RIL has successfully built multiple businesses of truly global scale. This partnership of Nel’s robust technology platform with RIL’s execution prowess – will further add to the success story for both partners. Both partners will also collaborate on future performance improvements and cost optimization through research and development (R&D), value engineering, standardization and modularization to improve the competitiveness of the alkaline technology platform,” stated the two partners.

According to 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.

Nel ASA is pure play hydrogen technology company with a global presence. It specializes in electrolyzer technology for production of renewable hydrogen, and hydrogen fueling equipment for road-going vehicles.

Reliance posted a consolidated turnover of INR 974,864 crore ($118.6 billion), cash profit of INR 1,25,951 crore ($15.3 billion), and net profit of INR 73,670 crore ($9.0 billion) for the year ended March 31, 2023. Reliance’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables, retail and digital services.