(Oslo, 13 August 2015) NEL ASA ("NEL") has entered into a binding agreement to
acquire RotoLyzer® - a potential game changer within the field of electrolyser
technologies.
NEL will acquire RotoBoost H2 AS, a subsidiary of RotoBoost AS, which holds all
assets related to the RotoLyzer®, a compact water electrolyser that is scalable
from small to large installations. The transaction combines an upfront cash
payment with milestone and royalty payments. The parties have agreed not to
disclose the terms of the transaction.
"The technology is fundamentally different from all other products in the
electrolyser industry. The RotoLyzer® is a pressurized, compact electrolyser,
which provides full operational flexibility while allowing for low production
costs, as no noble materials are used for manufacturing. This opens up new
market segments for NEL, and provides an ideal solution for hydrogen refuelling
stations where space is limited, or integration with renewable energy sources.
It is a potential game changer," said Bjørn Simonsen, director of market
development and public relations at NEL.
The RotoLyzer utilizes a vertical, rotating cell pack, leading to several
advantages in the production of hydrogen. The technology is patented and has
been verified through extensive testing.
The transaction is subject to due diligence and is expected to be closed by the
end of the third quarter 2015.
NEL is a global supplier of hydrogen solutions, covering the entire value chain
from hydrogen production technologies to hydrogen refuelling stations for fuel
cell electric vehicles, currently being launched by major car manufacturers.
Recently, NEL also acquired H2 Logic, a world-leading manufacturer of refuelling
stations.
For additional information, please contact:
Lars Christian Stugaard, acting chief executive officer, +47 47 63 05 22
About NEL
NEL ASA is the first dedicated hydrogen company on the Oslo Stock Exchange.
Since its foundation in 1927, NEL Hydrogen has a proud history of development
and continual improvement of hydrogen plants. NEL aims to deliver a complete
solution, from hydrogen production to the refuelling of vehicles through the
partly owned company Hyme AS and the subsidiary H2 Logic A/S. H2 Logic A/S is a
leading manufacturer of H2Station® hydrogen refuelling stations that provides
fuel cell electric vehicles with the same fast fueling and long range as
conventional vehicles today. www.nel-hydrogen.com