Nel ASA is aiming to produce green hydrogen at $1.5/kg by 2025, which would outcompete fossil fuel alternatives, the Norwegian hydrogen company said today (21st Jan).
Scaling up the production and distribution of hydrogen is widely seen as the biggest driver of cost reduction for green hydrogen.
But high renewable electricity prices are the biggest cost in producing green hydrogen which is why Nel is expanding electrolysis production to GW scale.
“We’re today launching our target which should enable our customers in certain markets to produce green renewable hydrogen from a large-scale Nel facility at $1.5/kg from low cost renewable power, already within 2025,” said Nel CEO Jon André Løkke, ahead of the company’s Capital Markets Day 2020 (CMD).
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