Billerica, Massachusetts – January 11, 2024 – Nuvera Fuel Cells, LLC, a provider of fuel cell power solutions, has signed a formal technology development agreement with HELINOR Energy, a Norwegian scale up technology and production provider of next generation hydrogen fuel cell and fire suppression modules. Under the agreement, HELINOR will fund the development of scalable marine power solutions incorporating Nuvera’s next-generation high-power fuel cell engine technology with HELINOR’s expertise in the maritime industry.

“The rapidly growing demand for zero-emission solutions for shipping has created opportunities and a platform for hydrogen fuel cell power solutions to address environmental concerns and showcase their efficiency and reliability advantages,” said Kedar Murthy, Chief Commercial Officer at Nuvera Fuel Cells. “We are excited to strengthen Nuvera’s foothold in the maritime industry, and we look forward to working alongside HELINOR to support the decarbonization of sea-going transportation.”

“In response to the International Maritime Organization’s strategy to achieve its target for net-zero greenhouse gas emissions by 2050, HELINOR is committed to expediting the transition to zero-carbon shipping by offering compact, lightweight, and powerful fuel cell modules, and to setting new standards in safety at sea,” said Elling Helvig, Chairman of HELINOR. “Nuvera’s high-efficiency fuel cell engines are the ideal solution because their high-power density makes optimal use of limited on-board space, and their demonstrated high-efficiency performance affords longer range and lower operating costs.”

Nuvera® E-Series Fuel Cell Engines enable vessel and maritime equipment manufacturers to meet increasingly stringent emissions mandates. Nuvera’s engines are designed to help customers with regulatory compliance, and to maintain economic competitiveness by providing high-performance power solutions. Learn more about Nuvera’s zero-emission energy solutions for maritime applications.

ABOUT NUVERA FUEL CELLS, LLC

Nuvera Fuel Cells, LLC is a manufacturer of heavy-duty, zero-emission engines for mobility applications. With teams located in the U.S., Europe, and Asia, Nuvera provides clean, safe, and efficient products designed to meet the rigorous needs of industrial vehicles and other transportation markets.

Nuvera is a subsidiary of Hyster-Yale Group, Inc., which designs, engineers, manufactures, sells, and services a comprehensive line of lift trucks and aftermarket parts marketed globally primarily under the Hyster® and Yale® brand names. Hyster-Yale Group is a wholly owned subsidiary of Hyster-Yale Materials Handling, Inc. (NYSE:HY). Hyster-Yale Materials Handling, Inc. and its subsidiaries, headquartered in Cleveland, Ohio, employ approximately 8,300 people worldwide.