(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
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