HYNET

Receives purchase orders for three additional hydrogen fueling stations in Korea

Oslo, 8 June 2020
Nel Korea Co., Ltd., a subsidiary of Nel ASA
(Nel, OSE:NEL) has received a purchase order from Hydrogen Energy Network Co., Ltd. (HyNet) for three additional H2Station® hydrogen fueling stations in Korea.

«We are happy to receive the purchase orders for three additional hydrogen fueling stations. It is another milestone after we went operational with our first H2Station® in Chungbuk province last week», says Yong-Kyu Lee, Sales Director for Nel Korea.

The value of the purchase order is around EUR 4 million. HyNet is a special purpose company established to roll out 100 hydrogen fueling stations in Korea by 2022, as part of the national ambition in Korea to have more than 300 stations operational by the same year.

Press release:
https://nelhydrogen.com/press-release/nel-asa-receives-purchase-orders-for-three-additional-hydrogen-fueling-stations-in-korea/

Receives purchase order for two additional hydrogen fueling stations in Korea

Oslo, 4 December 2019
Nel Korea Co., Ltd., a subsidiary of Nel ASA
(Nel, OSE:NEL) has received a purchase order from Hydrogen Energy Network Co., Ltd. (HyNet) for two additional H2Station® hydrogen fueling stations in Korea.

«With the latest purchase order, we’re up to a total of 12 H2Station® orders in Korea in 2019. We are very pleased with this progress, and happy that we can continue to help establish a solid network of hydrogen fueling stations in Korea,» says Jens Egholt, Global Sales Director for Nel Hydrogen Fueling.

The value of the purchase order is around EUR 2.7 million. HyNet is a special purpose company established to roll out 100 hydrogen fueling stations in Korea by 2022, as part of the national ambition in Korea to have more than 300 stations operational by the same year.

Press release:
https://nelhydrogen.com/press-release/nel-asa-receives-purchase-order-for-two-additional-hydrogen-fueling-stations-in-korea/

Invests in HyNet and receives purchase order for two hydrogen fueling stations in Korea

Oslo, 28 August 2019
Nel Korea Co., Ltd., a subsidiary of Nel ASA
(Nel, OSE:NEL) in Korea has made an investment in Hydrogen Energy Network Co., Ltd.(HyNet), and simultaneously received a purchase order for two H2Station® hydrogen fueling stations in Korea.

«With a total of 10 H2Station® orders in Korea so far in 2019, it’s quickly becoming one of our most important markets for fueling stations. We’re happy that the effort we have put in through several years of good dialogue, good partnerships and establishing a local presence in Korea is bearing fruit. We can safely say we have had a breakthrough in this dynamic and important market, and I’m very proud of what our team has accomplished so far,» says Jon André Løkke, CEO in Nel.

The investment in HyNet is approximately EUR 0.8 million, and the value of the purchase order is around EUR 2.7 million. HyNet is a special purpose company established to roll out 100 hydrogen fueling stations in Korea by 2022, as part of the national ambition in Korea to have more than 300 stations operational by the same year.

«Alongside the investment in HyNet, which is becoming a strong force for establishing the hydrogen infrastructure in Korea, we’re happy to receive a purchase order for two additional hydrogen fueling stations. We very much look forward to continue contributing to the successful execution of these ambitions in the years to come,» says Simon Choi, Vice President of Nel Korea.

Press release:
https://nelhydrogen.com/press-release/nel-asa-invests-in-hynet-and-receives-purchase-order-for-two-hydrogen-fueling-stations-in-korea/

Nel joins HyNet – Aiming to establish 100 hydrogen fueling stations in South Korea by 2022

Oslo, 1 March 2019
Nel Korea Co., Ltd., a subsidiary of Nel ASA has co-signed an agreement for the establishment of Hydrogen Energy Network (HyNet), new Special Purpose Company (SPC) and a joint venture (JV) between thirteen leading industrial companies. The target of HyNet is to expand the hydrogen fueling infrastructure in South Korea by installing 100 stations by 2022 and to operate them until 2029.

“We are excited to see the South Korean market moving ahead with hydrogen mobility. Nel sees significant opportunities in South Korea and is looking forward join forces with other key players in the industry to realise this hydrogen fueling infrastructure. Nel will contribute with our leading technology and infrastructure development experience from other markets to ensure the success of this high-potential development,” says Martin Pfandl, General Manager of Nel Korea.

HyNet is a JV among thirteen companies with the major shareholders being Hyundai Motor Company, Korea Gas Corporation, and Air Liquide Korea. The company plans to build and operate hydrogen fueling stations in South Korea together with strategic investors and is financially supported by the Korean Ministry of Environment. The target of HyNet is primarily to expand the hydrogen fueling infrastructure in South Korea by installing 100 stations by 2022 and to operate them until 2029.

The Board of HyNet consists of seven board members including Nel Korea with Simon Choi, Sales Director and VP, who was elected as a representative of the hydrogen refueling station equipment suppliers. Nel intends to sell H2Stations® both directly to the HyNet JV as well as directly to other customers. Nel will further evaluate to invest in HyNet depending on the number of possible hydrogen stations sales.

“We believe that HyNet will significantly accelerate the deployment of both fuel cell electric vehicles and hydrogen fueling infrastructure in South Korea, and we are ready to provide both our well proven and compact H2Station solutions as well as our knowhow to HyNet,” concludes Pfandl.

Press release:
https://nelhydrogen.com/press-release/press-release-nel-joins-hynet-aiming-to-establish-100-hydrogen-fueling-stations-in-south-korea-by-2022/