NEL ASA: NEL enters into final agreement with Uno-X for hydrogen station network
NEL ASA: NEL enters into final agreement with Uno-X for hydrogen station network
author Added by FuelCellsWorks, March 02, 2016

OSLO, Norway--Reference is made to the stock exchange notification 3 December 2016, regarding the letter of intent with Uno-X Gruppen AS (Uno-X), part of Reitangruppen AS. NEL Fuel AS (NEL), a subsidiary of NEL ASA, and Uno-X have now entered into a final agreement for the rollout of minimum 20 hydrogen refuelling stations covering all the major cities in Norway within 2020.

Following the agreement, NEL and Uno-X have established the joint venture Uno-X Hydrogen AS, owned by Uno-X and NEL with 51 % and 49 % respectively. The joint venture will build a network of hydrogen refuelling stations with hydrogen production, so that fuel cell electric vehicles (FCEVs) can operate in and between all the major cities in Norway. The stations will be deployed in cities like Oslo, Bergen, Trondheim, Stavanger, Kristiansand, along with corresponding corridor locations.

"NEL is pleased to announce this landmark agreement with our partner Uno-X for the rollout of the first commercial network of hydrogen refuelling stations in Norway. By combining the joint strengths of Uno-X and NEL, we will build a network of minimum 20 hydrogen refuelling stations covering all the major cities in Norway within 2020”, says Martin Nes, chairman of NEL.

Uno-X will be the main brand of the joint venture, whilst NEL will provide technology for hydrogen production and hydrogen refuelling stations.

“Uno-X is proud to partner with NEL to establish a commercial network of hydrogen refuelling stations in Norway. NEL is in the forefront within hydrogen technology and competence. The world's

leading car manufacturers are investing heavily in hydrogen as their preferred clean energy technology, and large scale rollout of hydrogen vehicles are expected to accelerate from 2016. We look forward to contribute to the transition to a low emission society though providing hydrogen refuelling stations to our customers”, says Vegar Kulset, CEO of Uno-X.