Hot Pursuit     22-May-24
RIL edges higher after signing licensing deal with Norway's Nel ASA for alkaline electrolysers
Reliance Industries added 1.80% to Rs 2923 after the company entered into licensing agreement with Nel ASA for manufacturing Nel’s alkaline electrolysers in India and for captive purposes globally.

Norway-based Nel ASA has a history tracing back to 1927 and is today a leading pure play hydrogen technology company with a global presence. The company specializes in electrolyser technology for production of renewable hydrogen, and hydrogen fueling equipment for road-going vehicles. Nel's product offerings are key enablers for a green hydrogen economy, making it possible to decarbonize various industries such as transportation, refining, steel, and ammonia

Nel Hydrogen Electrolyser AS, fully owned subsidiary of Nel ASA, has entered into a technology licensing agreement with Reliance Industries (RIL). The agreement provides RIL with an exclusive license for Nel’s alkaline electrolysers in India and also allows RIL to manufacture Nel’s alkaline electrolysers for captive purposes globally.

Through the agreement, Reliance gets access to Nel’s proven technology platform for manufacturing electrolysers.

Both partners will also collaborate on future performance improvements and cost optimization through research and development (R&D), value engineering, standardization and modularization to improve the competitiveness of the alkaline technology platform.

According to the agreement, Nel can procure equipment from Reliance for its own projects. Nel will continue to serve the Indian market with technology platforms that are not covered by the agreement.

"RIL is building a multi-GW fully integrated end-to-end new energy value chain, from photon to green molecules, paving the way for abundant and affordable access to sustainable energy for everyone, as per the vision set by RIL’s chairman and managing director, Mr. Mukesh Ambani. Green hydrogen is a critical element of the new energy value chain – and the partnership between RIL and Nel in relation to alkaline electrolysers is an important milestone towards the sustainable energy future,” the Mumbai-based conglomerate said in a statement.

Reliance Industries (RIL) is India's largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, renewables (solar and hydrogen), retail and digital services.

RIL's consolidated net profit stood at Rs 21,243 crore in Q4 FY24, marginally higher from Rs 21,227 crore posted in corresponding quarter last year. Gross revenue jumped 10.8% to Rs 264,834 crore in Q4 FY24 as compared with Rs 238,957 crore in Q4 FY23. The

Previous News
  Nifty June futures trade at premium
 ( Market Commentary - Futures Market 20-Jun-24   16:15 )
  Jnk India sizzles after bagging order from Reliance Inds
 ( Hot Pursuit - 18-Jun-24   12:54 )
  Nifty June futures trade at premium
 ( Market Commentary - Futures Market 07-Jun-24   16:16 )
  Reliance Industries Ltd spurts 2.24%, gains for third straight session
 ( Hot Pursuit - 07-Jun-24   13:05 )
  Reliance Industries to develop integrated digital and services industrial area in Navi Mumbai
 ( Corporate News - 04-Jun-24   09:09 )
  Reliance Industries Ltd drops for fifth straight session
 ( Hot Pursuit - 30-May-24   13:35 )
  Nifty May futures trade at premium
 ( Market Commentary - Futures Market 29-May-24   16:31 )
  RIL edges higher after signing licensing deal with Norway's Nel ASA for alkaline electrolysers
 ( Hot Pursuit - 22-May-24   11:02 )
  Market opens on positive note; breadth strong
 ( Market Commentary - Mid-Session 22-May-24   09:39 )
  Stock alert: Sun Pharma, PayTM, Nykaa, Reliance Industries, P I Inds
 ( Market Commentary - Stock Alert 22-May-24   08:51 )
  Reliance Industries signs technology licensing agreement with Nel Hydrogen Electrolyser AS
 ( Corporate News - 21-May-24   18:58 )
Other Stories
  MapmyIndia rallies after foreign broker's buy call
  20-Jun-24   15:38
  Uno Minda jumps after broker initiates coverage
  20-Jun-24   15:15
  Jupiter Wagons gains after arm achieves milestones in battery technology for Indian Railways
  20-Jun-24   15:15
  Bharat Electronics appoints Manoj Jain as chairman & MD
  20-Jun-24   15:13
  PNB Housing Finance Ltd leads losers in 'A' group
  20-Jun-24   15:00
  Le Travenues Technology Ltd leads losers in 'B' group
  20-Jun-24   14:45
  Volumes jump at C.E. Info Systems Ltd counter
  20-Jun-24   14:30
  Railtel Corp bags order worth Rs 20 cr
  20-Jun-24   14:25
  Auto stocks edge lower
  20-Jun-24   14:00
  Healthcare shares fall
  20-Jun-24   14:00
Back Top