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Nel ASA Secures $75 Million in Funding for Michigan Electrolyser Production Facility to Boost Green Hydrogen Initiative

Norwegian company, Nel ASA, has received a significant financial boost for its upcoming electrolyser production facility in Michigan. The U.S. Department of Energy (DOE) and the State of Michigan have provided collective cash incentives and grants totalling USD 75 million. The funds will be used to establish a green hydrogen value chain for the US gigafactory and invest in workforce development initiatives in the Detroit region. The State also provided an additional USD 25 million direct investment support for Nel. The company’s president and CEO, HÃ¥kon Volldal, highlighted the significance of the governmental support in bringing the project to life. The facility’s completion is expected to yield an annual nameplate production capacity of 4 GW.

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