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Nel ASA is a global company headquartered in Oslo, Norway, specializing in hydrogen production technologies and solutions. The company's core business involves the development and manufacturing of hydrogen production plants, renewable energy storage, and hydrogen refueling stations. Nel ASA’s key products include electrolysers, which are used to produce hydrogen from renewable energy sources, and hydrogen fueling equipment that supports infrastructure for fuel cell electric vehicles. Established in 1927, Nel has a long history in the hydrogen sector and continues to expand its footprint through strategic collaborations and technological advancements. The company's competitive strengths lie in its extensive experience, advanced technology, and strong presence across key markets in Europe, North America, and Asia.

Caterpillar is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its reporting segments are construction, resource, energy, and transportation. Market share approaches 20% across many products. Caterpillar operates a captive finance subsidiary to facilitate sales. The firm has a global reach that is approximately evenly balanced between the US and the rest of the world. Construction skews more domestic, while the other divisions are more geographically diversified. An independent network of over 150 dealers operates approximately 2,800 facilities, giving Caterpillar reach into about 190 countries for sales and support services.