Nel ASA receives €2m ($2.3m) purchase order for its first hydrogen (H2) station in Asia as part of “landmark” deal.
Through its subsidiary Nel Deokyang, the company has received a purchase order for a H2Station® H2 fuelling solution in South Korea from Joong Do Gas, a retail company involved in sales of LPG fuel in South Korea.
The Norwegian firm entered the Korean H2 market through a joint venture with the country’s largest domestic supplier Deokyang Co., Ltd, last year. Nel-Deokyang will exclusively sell and market Nel’s H2Station® H2 refuelling units throughout Korea as the North Pacific rim country accelerates its H2 economy.
”As the first pure H2Station delivery from Nel, not only in Korea, but in Asia in general, this is a landmark achievement for Nel, as we continue to position ourselves as a truly global H2 company.”
Nel’s CEO Jon André Løkke
The order marks the first installation in Korea and the first compact fuelling station solution to follow a new gas law and local standards.
“This is the breakthrough we have been working intensively with over the course of the last year. As the first pure H2Station delivery from Nel, not only in Korea, but in Asia in general, this is a landmark achievement for Nel, as we continue to position ourselves as a truly global H2 company,” highlighted Jon André Løkke, CEO of Nel.
In April, the South Korean Government announced the establishment of a Special Purpose Company (SPC) for expanding the country’s H2 infrastructure with the goal of installing H2 fuelling stations along most travelled roads and highways, as well as in Seoul and other major cities. Nel is participating in this SPC through its joint venture, Nel-Deokyang, along with other participants from major South Korean corporations, state-run utilities and automakers.
“South Korea is currently one of the fastest movers within the industry, with an ambition of having 100 H2 fuelling stations online by 2020. We are very happy to kickstart our deliveries in South Korea and expect to continue to further penetrate the market as we move forward,” Løkke concluded.
The H2Station solution has an order value of €2m ($2.3m) and will be installed alongside conventional fuels on the existing forecourt of an LPG station, which also marks a first in Korea. The station is supported by the Korean Automotive Environment Association, and installation will commence towards the end of 2018.