RIL edges higher after signing licensing deal with Norway's Nel ASA for alkaline electrolysers

Reliance Industries added 1.80% to Rs 2923 after the company entered into licensing agreement with Nel ASA for manufacturing Nel's alkaline electrolysers in India and for captive purposes globally.

Norway-based Nel ASA has a history tracing back to 1927 and is today a leading pure play hydrogen technology company with a global presence. The company specializes in electrolyser technology for production of renewable hydrogen, and hydrogen fueling equipment for road-going vehicles. Nel's product offerings are key enablers for a green hydrogen economy, making it possible to decarbonize various industries such as transportation, refining, steel, and ammonia

Nel Hydrogen Electrolyser AS, fully owned subsidiary of Nel ASA, has entered into a technology licensing agreement with Reliance Industries (RIL). The agreement provides RIL with an exclusive license for Nels alkaline electrolysers in India and also allows RIL to manufacture Nels alkaline electrolysers for captive purposes globally.

Through the agreement, Reliance gets access to Nels proven technology platform for manufacturing electrolysers.

Both partners will also collaborate on future performance improvements and cost optimization through research and development (R&D), value engineering, standardization and modularization to improve the competitiveness of the alkaline technology platform.

According to the agreement, Nel can procure equipment from Reliance for its own projects. Nel will continue to serve the Indian market with technology platforms that are not covered by the agreement.

"RIL is building a multi-GW fully integrated end-to-end new energy value chain, from photon to green molecules, paving the way for abundant and affordable access to sustainable energy for everyone, as per the vision set by RILs chairman and managing director, Mr. Mukesh Ambani. Green hydrogen is a critical element of the new energy value chain and the partnership between RIL and Nel in relation to alkaline electrolysers is an important milestone towards the sustainable energy future, the Mumbai-based conglomerate said in a statement.

Reliance Industries (RIL) is India's largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, renewables (solar and hydrogen), retail and digital services.

RIL's consolidated net profit stood at Rs 21,243 crore in Q4 FY24, marginally higher from Rs 21,227 crore posted in corresponding quarter last year. Gross revenue jumped 10.8% to Rs 264,834 crore in Q4 FY24 as compared with Rs 238,957 crore in Q4 FY23. The

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