# Nel ASA intends to acquire Proton Energy Systems for $70M

Nel ASA announced a non-binding term sheet to acquire Proton Energy Systems Inc. for an enterprise value of US$70 million. The deal would create the world's largest hydrogen electrolyser company.

- Type: Acquisition
- Announced: 2017-02-27
- Where: Connecticut, United States
- Value: $70.0M
- Status: announced
- Products: PEM electrolysis systems, hydrogen generators
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Nel ASA](https://endata.com/companies/960.md) (acquirer)
- [Proton Energy Systems](https://endata.com/companies/22489.md) (target)

## Sources

- [bioenergyinternational.com](https://bioenergyinternational.com/nel-announces-intention-acquire-proton-energy-systems/), 2017-02-27: "We are proud to announce the intention to combine Nel and Proton OnSite, creating the world's largest hydrogen electrolyser company."
- [chemengonline.com](https://www.chemengonline.com/proton-onsite-acquired-by-nel-asa-for-70-million/?printmode=1), 2017-02-28: "We are proud to announce the intention to combine Nel and Proton OnSite, creating the world's largest hydrogen electrolyzer company."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.