New Energy Risk partners with Topsoe to support its electrolyzer projects

New Energy Risk (NER), a specialist managing general underwriter and a wholly owned division of Paragon Insurance Group, has partnered with Topsoe to become the preferred insurance provider for its hydrogen electrolyzer business.

NER will assist in the global deployment of Topsoe’s electrolyzer technology by facilitating cost-effective financing for the company’s customers. Through NER’s technology performance insurance products, these customers can enhance the bankability of their projects.

This partnership follows NER’s completion of extensive technical due diligence on Topsoe’s electrolyzer technology. The process streamlines underwriting and the placement of performance insurance, improving project timelines and increasing financing certainty for eligible projects.

Topsoe’s solid oxide electrolyzer technology builds on its extensive experience in electrolysis, converting water into sustainable hydrogen for various applications, including transportation, manufacturing, energy storage, and industrial processes.

Tom Dickson, CEO of NER, said, “We recognize the potential of the hydrogen market to replace essential hydrocarbon feedstocks and are grateful that Topsoe, a company with over 80 years of excellence in the process industries, has entrusted NER to add value to its offering and support customer adoption.”

Brad Price, Managing Director for Technical Due Diligence at NER, stated, “Topsoe’s vast experience in chemical processing is evident in its solid oxide electrolyzer technology. NER has completed extensive technical due diligence and is proud to offer a world-class performance insurance product in support of this technology.”

Sundus Cordelia Ramli, CCO Power-to-X at Topsoe, added, “Our partnership with NER is an important milestone to accelerate the delivery of our customers’ green hydrogen projects and is testimonial to the confidence in our technology. As the insurance provides performance coverage for commissioning, ramp-up and operations, it’s a strong de-risking tool supporting customers and investors with increased bankability for projects that involve our SOEC electrolyzers.”

This website states: The content on this site is sourced from the internet. If there is any infringement, please contact us and we will handle it promptly.