From pv magazine India
Reliance Industries has signed a technology licensing agreement for Nel Hydrogen's alkaline electrolyzers.
The agreement provides Reliance Industries with an exclusive license for Nel’s alkaline electrolyzers in India. It also allows Reliance Industries to manufacture Nel’s alkaline electrolyzers for captive purposes throughout the world.
“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 President and CEO Håkon Volldal.
Reliance Industries aims to become net-carbon zero by 2035 by switching to cleaner energy sources. It is building a multi-gigawattm, fully integrated end-to-end new energy value chain, from photon to green molecules.
Reliance Industries will now get access to Nel’s technology platform to make electrolyzers. Nel will be able to procure equipment from Reliance Industries for its own projects. Nel also will continue to serve the Indian market with technology platforms that are not covered by the agreement.
Reliance Industries posted a consolidated turnover of $118.6 billion and a net profit of $9 billion for the year to March 31, 2023.
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