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Nel ASA: Establishes Consortium to Commercialize Fuel Cell Electric Buses in Europe

By June 3, 2019

June 3, 2019

Oslo– Nel ASA (Nel, OSE:NEL), Ballard Power Systems Inc., Hexagon Composites ASA, Wrightbus Ltd., Ryse Hydrogen Ltd. and Everfuel Europe AS today announce the establishment of H2Bus Consortium, an ambitious consortium to implement commercial fuel cell electric buses throughout Europe.

“We are happy to announce the establishment of the H2Bus Consortium with our partners as a response to the political zero emission targets. Fuel cell electric buses have been demonstrated around Europe for more than a decade. The technology is reliable, efficient and completely zero emission. The challenge for the industry is now to scale up production of fuel cell electric busses to achieve significantly cost reduction. This will now be made possible through the H2Bus Consortium”, says Jacob Krogsgaard, Chairman of the H2Bus Consortium.

The H2Bus Consortium includes the partners Nel, Ballard Power Systems, Hexagon Composites ASA, Wright bus, Ryse Hydrogen and Everfuel Europe AS (incorporated by Nel, and further described below). Reference is also made to the OSE notification 27 September 2018 regarding H2Bus Europe. The consortium will cooperate closely to execute on the H2Bus Europe project where 600 fuel cell buses, Nel electrolysers and Nel hydrogen stations will be deployed in Denmark, Latvia and the UK, with more European markets to follow.

“With a fuel cell electric bus priced at below €375,000, bus maintenance of €0.30/km and hydrogen fuel of €5–7/kg, our joint offering will be the lowest cost zero emission bus alternative”, says Krogsgaard.

As part of the project, Everfuel, incorporated by Nel, will own and operate the hydrogen value chain, and purchase equipment exclusively from Nel. Everfuel will be managed by Mr. Krogsgaard and will enter into a fundraising process to finance the initiatives. Nel will remain a minority shareholder in the company. “Nel has great experience from working with consortium partners in developing hydrogen infrastructure in different countries. We look forward to work with Jacob and other trusted partners in developing the important and promising market for fuel cell electric buses in Europe”, says Jon André Løkke, CEO of Nel.

Official Press Release

Leading players enabling true zero-emission hydrogen solution for public transportation

Everfuel, Wrightbus, Ballard Power Systems, Hexagon Composites, Nel Hydrogen and Ryse Hydrogen, leading players in the hydrogen fuel cell electric value chain, announce today that they are joining forces to form the H2Bus Consortium. The members are committed to deploying 1,000 hydrogen fuel cell electric buses, along with supporting infrastructure, in European cities at commercially competitive rates.

This ground breaking hydrogen fuel cell electric bus solution will be the most cost-effective truly zero-emission option available, with a single-decker bus price below €375,000 after funding, a hydrogen price between €5 and €7 per kilogram and a service cost of €0.30 per kilometre. The zero-tailpipe emission feature of the fuel cell bus’ operation will be complemented by zero-emission hydrogen production from renewable energy sources, yielding a “well-to-wheel” emission-free transportation solution.

“It is essential that commercial players join forces to realize the true zero-emission mobility society,” says David Barnett, Business Development Director at Wrightbus. “The hydrogen fuel cell electric bus is the ideal substitute for fossil solutions, without compromising range, operational ability or cost. Wrightbus is also expanding its product offering to include a fuel cell electric double decker bus, 12-meter single-decker bus and articulated bus in order to serve a wider customer base. We are currently witnessing the transformation of public transport for the benefit of both current and coming generations and we feel privileged to be part of this transition together with the other consortium members.”

The first phase of the project, totalling 600 buses, is supported by €40 million from the EU’s Connecting Europe Facility (CEF1 ). The funding will enable the deployment of 200 hydrogen fuel cell electric buses and supporting infrastructure in each of Denmark, Latvia and the UK by 2023.

“Hydrogen is the zero-emission solution for heavy-duty applications. Hydrogen can efficiently be produced from renewable electricity and distributed in high capacity hydrogen trailers to bus depots. Here, a hydrogen bus can be fueled in five minutes. This is comparable to diesel,” says Jacob Krogsgaard, CEO of Everfuel. “We are setting up a dedicated hydrogen value chain to cut costs and, in doing so, to approach operational parity with buses which use traditional fuels.”

“The H2Bus Consortium provides the complete package including fuel cell buses and hydrogen fuel. We will offer the most affordable zero-emission bus to meet the increasing demand in the largest cities of Europe,” continues Jacob Krogsgaard.

About H2Bus
H2Bus is a consortium formed by member companies Everfuel, Wrightbus, Ballard Power Systems, Hexagon Composites, Nel Hydrogen and Ryse Hydrogen, all leading players in the hydrogen fuel cell electric value chain. Our purpose is to provide the most affordable truly zero-emission solution to the European public transport sector.

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