OSLO, Norway--(BUSINESS WIRE)--Regulatory News:
(Oslo, 3 December 2015) NEL ASA (NEL) (OSE:NEL) has signed a letter of intent with Uno-X Gruppen AS (Uno-X), part of Reitangruppen AS, for the rollout of minimum 20 hydrogen refuelling stations covering all the major cities in Norway within 2020.
“We are pleased to enter into an agreement with Reitangruppen and Uno-X for the rollout of the first commercial network of hydrogen refuelling stations in Norway. By combining Uno-X’s leading retail experience and NEL´s leading hydrogen technology and competence, we will provide fuel cell electric vehicles across Norway with the same fast refuelling and long range as conventional vehicles today. In addition, we are providing a clear response to the government´s hydrogen ambitions in parallel with launch of fuel cell vehicles from key automakers”, says Martin Nes, chairman of NEL.
NEL and Uno-X will establish a joint venture, owned by Uno-X and NEL with 51 % and 49 % respectively. The joint venture will build a network of hydrogen refuelling stations, where fuel cell electric vehicles (FCEVs) can operate between all the major cities in Norway. The stations will be deployed in cities like Oslo, Bergen, Trondheim, Stavanger, Kristiansand, along with corresponding corridor locations. The target is that FCEVs can drive between the most populated cities in Norway within 2020.
The Norwegian government provides the world-class FCEV incentives, with no vehicle or value added tax, free access public transport lanes, free public parking and free passage on toll roads.
“With hydrogen in Norway being 100% renewable, it makes Norway the perfect country for the introduction of FCEVs. The national government recently announced the intention of a grant and support scheme for the rollout of hydrogen refuelling stations in Norway. The joint venture welcomes this public-private partnership model and will enter into a dialogue with the relevant governmental entities for the realization of the hydrogen network”, says Nes.
“We are proud to be the first to establish a commercial network of hydrogen refuelling stations in Norway with our dedicated hydrogen partner. The world’s leading car manufacturers are investing heavily in hydrogen as their preferred clean energy technology, and large scale rollout of FECVs are expected to accelerate from 2016. Uno-X aims at being in the forefront of this technology development and look forward to provide a network of hydrogen refuelling stations for our customers”, says Ole Johannes Tønnessen, CEO of Uno-X Automat AS.
About NEL
NEL ASA is the first dedicated hydrogen company on the Oslo Stock Exchange. Since its foundation in 1927, NEL Hydrogen has a proud history of development and continual improvement of hydrogen plants. NEL is global a supplier of hydrogen solutions, covering the entire value chain from hydrogen production technologies to hydrogen refuelling stations for fuel cell electric vehicles. H2 Logic A/S is a leading manufacturer of H2Station® hydrogen refuelling stations that provides fuel cell electric vehicles with the same fast fuelling and long range as conventional vehicles today. www.nel-asa.com
About Reitangruppen
Reitangruppen comprises four business areas: REMA 1000, Reitan Convenience, Reitan Real Estate and the Uno-X Group. Reitangruppen is also holding 15.6 percent of Axfood. Reitan Group’s head office is at Lade Gaard in Trondheim, the Reitan Group’s cultural and financial center. REMA 1000 and Reitan Servicehandel has its operational center in Oslo, while Reitan Real Estate is based in Trondheim. Uno-X is based in Oslo and Copenhagen. Reitangruppen had a turnover in 2014 (including franchise sales) of 82 billion NOK, and employs 36,611 people in Scandinavia and the Baltic region. www.reitangruppen.com
About Uno-X
Uno-X Gruppen is a trading company, specialising in marketing and sale of fuels and lubricants for commercial and private customers. The group’s business areas are organised in dedicated limited companies, in order to facilitate market focus, development and growth. Today, Uno-X Gruppen consists of seven financially strong and companies, four in Norway and three in Denmark. www.unox.no
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