Insider Brief
- SAMSUNG E&A has acquired a 9.1% stake in Norwegian hydrogen technology firm Nel ASA for approximately $33 million, marking its full-scale entry into the green hydrogen sector and making it Nel’s largest shareholder.
- The investment will help SAMSUNG E&A integrate Nel’s electrolyzer technology into its energy solutions portfolio, positioning the company to support the growing demand for green ammonia, green methanol, and e-fuels as alternatives to fossil fuels.
- The partnership is expected to accelerate the deployment of green hydrogen solutions worldwide, leveraging Nel’s expertise in electrolysis technology and Samsung E&A’s engineering and procurement capabilities to advance sustainable energy initiatives.
SAMSUNG E&A has taken a significant step into the green hydrogen sector with an investment in Norwegian hydrogen technology firm Nel ASA. The South Korean energy solutions provider has acquired a 9.1% stake in Nel for approximately $33 million, marking a full-scale entry into hydrogen production, according to a joint announcement on March 11 in Houston Texas.
The deal will make SAMSUNG E&A Nel’s largest shareholder help SAMSUNG E&A expand its business into hydrogen production by integrating Nel’s electrolyzer technology into its energy solutions portfolio. Nel, headquartered in Norway, has been involved in hydrogen technology since 1927 and is among the few companies globally offering both alkaline water electrolyzer (AWE) and proton exchange membrane electrolysis (PEM) technologies. These methods use electricity from renewable sources to split water into hydrogen and oxygen, producing emission-free fuel, according to Nel.
“Our strategy is to focus on electrolyzer stack and balance of stack technology. Therefore, we need to work with EPC companies who can provide balance-of-plant solutions and increase our global market reach. It is an honor that a highly reputable and solid company like SAMSUNG E&A has decided to partner with Nel because of our technology and manufacturing leadership” says Håkon Volldal, President and CEO of Nel ASA.
SAMSUNG E&A’s investment aligns with its broader strategy to expand into sustainable energy markets, according to the company. The global energy Engineering, Procurement, and Construction (EPC) market company sees green hydrogen as a key enabler for the production of green ammonia, green methanol, and e-fuels, which are increasingly viewed as viable alternatives to fossil fuels in industries such as aviation and shipping. Environmental regulations and global decarbonization efforts have spurred demand for these fuels, and Samsung E&A aims to position itself as a frontrunner in this rapidly growing market, according to Samsung E&A.
“SAMSUNG E&A will provide integrated electrolyzer solutions with competitive value and bankability to green hydrogen project owners with Nel. Green hydrogen is a core technology in clean tech with carbon-neutral technologies and has a high value not only as itself but also as a basic ingredient for green ammonia, green methanol, SAF, and e-fuel,” says Hong Namkoong, CEO of SAMSUNG E&A.
Green hydrogen is increasingly recognized as a critical component of the future energy landscape. Unlike traditional hydrogen production, which relies on fossil fuels, green hydrogen is produced through electrolysis powered by renewable energy, making it a zero-emission alternative. Its potential applications span from fueling transportation to storing energy for use during periods of low renewable energy generation.
The partnership between SAMSUNG E&A and Nel is expected to strengthen both companies’ positions in the global hydrogen market. By leveraging Nel’s expertise in electrolysis technology and SAMSUNG E&A’s engineering and procurement capabilities, the two companies aim to accelerate the deployment of green hydrogen solutions worldwide.
“In a separate transaction, Nel ASA will issue 167,132,530 shares to Samsung A&E for NOK 2.1125 per share, representing the arithmetic average of the last seven-day volume weighted average prices as of March 10, 2025, for a total, all cash, consideration of about NOK 353 million. The transaction is subject to approval by the Board of Directors,” Nel noted in it’s press release.
