Nel has realigned its previous electrolyser supply agreements with Nikola and has decided to support Fortescue Metals Group’s 80MW Phoenix Hydrogen Hub.
The Norwegian company will become Fortescue’s electrolyser supplier for around $20m. Fortescue’s acquisition of Nikola’s Phoenix hub includes the installation of electrolyser equipment delivered by Nel to Nikola, with the latter set to receive around $11m from Fortescue.
In 2018, Nel entered into a supply agreement with Nikola and later a firm purchase order for 85MW of electrolyser equipment that has already been delivered. The old supply agreement has been cancelled and will now agree to 110 alkaline stacks and related balance of plant equipment. As compensation for the changed agreement, Nel will receive around $9m.
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