NEL ASA has entered into a binding agreement with the shareholders of H2 Logic to acquire the company for a total consideration of NOK 300m.
The acquisition will be financed through (NOK) 100m in cash and the remainder in new shares of NEL at (NOK) 1.35 per share.
NEL has leading hydrogen production systems capability based on water electrolyser technology. Through the acquisition of H2 Logic, NEL positions itself as a world-leading supplier of Hydrogen Refuelling Stations (HRS) and takes a key role in the development of the supply infrastructure for Fuel Cell Electric Vehicles (FCEVs).
Furthermore, the combined company will benefit from the technical and commercial know-how of both organisations within production and fueling, as hydrogen is taking centre-stage as a “clean battery” in the development of renewable energy.
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