Nel Hydrogen specializes in alkaline and PEM electrolyzers used to produce green hydrogen from renewable electricity. The company is shifting from small modular systems to utility scale projects to help decarbonize heavy industry and long haul transport. US market growth for Nel is closely tied to the Inflation Reduction Act and the 45V tax credit, which provides incentives for low carbon hydrogen production. This policy shift is moving the industry from pilot phases toward commercial deployment.
