- Nel plans to sell its entire 13.56% interest in Everfuel for NOK 116.6 million.
- The stock’s ownership will go to HyVC ApS, a joint venture of the Japanese groups.
Norwegian hydrogen solutions company, Nel, has announced plans to sell its entire 13.56% interest in Everfuel, a Danish green hydrogen producer, to Japan’s Itochu Corp and Osaka Gas Co Ltd in a deal worth NOK 116.6 million (USD 10.7m/EUR 9.9m). Nel said it will offload 11.7 million Everfuel shares at NOK 9.97 each as part of a broader plan to exit non-strategic operations.
The CFO of Nel, Kjell Christian Bjornsen, stated that the stock’s ownership would go to HyVC ApS, a joint venture of the Japanese groups. The stock transfer aims to pursue commercial-scale green hydrogen initiatives in Germany, Benelux, Norway, and other markets over time. In 2020, Nel established Everfuel to produce and supply green hydrogen for the industrial and mobility sectors.
The firm, based in Denmark, currently operates in Norway, Sweden, the Netherlands and Germany. Following the deal pending regulatory clearance, HyVC will be Everfuel’s second-largest shareholder after EF Holding Aps. Nel expects to record a NOK 23 million gain from the divestment in its fourth-quarter financial report.