Wedoany.com Report-Mar 12, South Korea’s construction and project management company Samsung E&A has taken a major step into the green hydrogen sector with the $33 million acquisition of a 9.1% stake in Norwegian hydrogen technology company Nel.
Samsung E&A chief executive, Hong Namkoong.
The deal, completed on 11 March, was accompanied by a strategic partnership agreement aimed at advancing hydrogen production technologies.
Nel, a global leader in hydrogen solutions with a history dating back to 1927, specialises in electrolyser technology for renewable hydrogen production.
According to Samsung, Nel is one of the few companies operating both commercially viable alkaline water electrolysis (AWE) and proton exchange membrane (PEM) electrolysis technologies and is also developing next-generation high-performance electrolyser solutions.
Through the partnership, Samsung E&A aims to integrate Nel’s electrolyser technology into its broader green hydrogen plant solutions.
The company plans to expand into electrolyser installation and operation, positioning itself as a key player in the growing green hydrogen market.
“Hydrogen electrolysis is a gateway technology for producing green ammonia, methanol and e-fuels, all of which are critical for the energy transition,” Samsung E&A stated.
With global demand for sustainable fuels such as ammonia and methanol increasing due to decarbonisation efforts, the company is positioning itself to secure a leading role in the sector.
Samsung E&A has identified energy transition and sustainability as core elements of its long-term strategy.
“We will continue to invest in hydrogen and carbon-neutral technologies through strategic partnerships and technological advancements,” said Samsung E&A chief executive, Hong Namkoong.
“By leveraging our expertise, we aim to drive high-value engineering, procurement and construction projects linked to the energy transition.”
