Hydrogen Technologies has been acquired by a new owner group, as a result, the firm will change its name to NEL Hydrogen.
In an official statement, the company summarised the transition as: “New name - new visions – strong traditions”. Despite its new name the firm still retains its focus upon hydrogen generation plants based on water electrolysis technology. Indeed, NEL continues to supply energy efficient hydrogen solutions for industrial applications, hydrogen fuelling stations and distributed energy systems worldwide.
The Norwegian company began in 1927, when Norsk Hydro began using water electrolysis technology to provide hydrogen for its large-scale ammonia production. Since then the technology has gone on to be adapted, honed and developed. By 1974, the firm instigated commercial sales of the electrolysers through its descendent, Norsk Hydro Electrolysers (NHEL) in 1974. This in turn evolved into Hydrogen Technologies in 2006.
Thanks to a recent investment, the company is now jointly owned on a 60:40 basis between Norwegian technology company Strata Marine & Offshore, alongside the management team NEL Hydrogen.
According to owners, the new name - NEL Hydrogen - reflects the firm’s, “long traditions of providing Norwegian Electrolysers for the world, enabling a clean and emission-free production of hydrogen.”
Whilst announcing the name and ownership change, the firm also took the opportunity to reiterate its business plans. With a, “brighter than ever” future, NEL Hydrogen is confident in its recent stability and consequently forecasts a tripling of revenues from 2008 - 2011.
In an official statement the company justified its positivity, “In 2010, NEL Hydrogen contracted sales representing a hydrogen capacity of nearly 5.000 Nm3/hr. This is probably the largest figure of any electrolyser company for many decades. Year-to-date 2011, we have further agreed sales contracts representing capacity of more than 2.000 Nm3/hr, and we expect the 2nd half of 2011 to be equally strong. This confirms us being the world leading supplier of hydrogen plants based on water electrolysis.$quot;
Following this transition, Torgeir Meland Landaas will be appointed the new Managing Director / CEO of the company; A position he succeeds to from his prior role as Director of Operations.