Nel ASA: Receives contract for PEM electrolyzer equipment

Rhea-AI Summary

Nel Hydrogen US, a subsidiary of Nel ASA, has secured a contract for PEM electrolyzer equipment valued at approximately USD 2.6 million. This purchase order comes from a prominent stationary fuel cell OEM and includes design consulting services. The equipment delivery is scheduled between 2022 and 2024. This contract signifies a strategic partnership aimed at advancing hydrogen technology in the fuel cell sector, reflecting Nel's commitment to enhancing its offerings in hydrogen production and distribution.

Positive

• Secured a contract worth USD 2.6 million for PEM electrolyzer equipment.
• Partnership with a leading stationary fuel cell OEM may enhance market position.
• Includes design consulting services, adding value to the contract.

Negative

• None.

OSLO, Norway, Oct. 25, 2021 /PRNewswire/ -- Nel Hydrogen US, a subsidiary of Nel ASA (Nel, OSE: NEL), has received a contract for PEM electrolyzer equipment from a leading global fuel cell company.

Nel Hydrogen US has received a purchase order for PEM electrolyzer equipment from an undisclosed, leading stationary fuel cell OEM. The purchase order has a value of approximately USD 2.6 million, and the equipment will be delivered between 2022 and 2024. Nel will also be providing design consulting services as part of the project.

For additional information, please contact:

Jon André Løkke, CEO, +47 907 44 949

Kjell Christian Bjørnsen, CFO, +47 917 02 097

About Nel ASA | www.nelhydrogen.com

Nel is a global, dedicated hydrogen company, delivering optimal solutions to produce, store and distribute hydrogen from renewable energy. We serve industries, energy and gas companies with leading hydrogen technology. Since its origins in 1927, Nel has a proud history of development and continual improvement of hydrogen plants. Our hydrogen solutions cover the entire value chain from hydrogen production technologies to manufacturing of hydrogen fueling stations, providing all fuel cell electric vehicles with the same fast fueling and long range as conventional vehicles today.

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SOURCE NEL ASA

FAQ

What is the value of the contract received by Nel Hydrogen US on October 25, 2021?

The contract is valued at approximately USD 2.6 million.

Which company received the PEM electrolyzer equipment contract?

Nel Hydrogen US, a subsidiary of Nel ASA, received the contract.

What is the delivery timeline for the PEM electrolyzer equipment from Nel Hydrogen US?

The equipment is scheduled to be delivered between 2022 and 2024.

Who is the client for the PEM electrolyzer equipment contract?

The client is an undisclosed leading stationary fuel cell OEM.

What additional services are included in the contract for the PEM electrolyzer equipment?

Nel Hydrogen US will also provide design consulting services as part of the project.