NEL ASA UNSP/ADR - NLLSY STOCK NEWS

Nel Hydrogen Electrolyser AS, a division of Nel ASA, has secured a EUR 11 million purchase order for a 20MW alkaline water electrolyser from Ovako, a European engineering steel manufacturer. This installation, set for Ovako's Hofors plant in Sweden, marks the world's first use of hydrogen to heat steel prior to rolling. The electrolyser will halve CO2 emissions from the facility's heating process, transitioning from fossil propane gas to fossil-free hydrogen. Equipment delivery is expected by the end of 2022, with hydrogen production commencing in 2023.

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.

Nel ASA reported record revenues of NOK 229.3 million for Q3 2021, increasing 55% from NOK 147.7 million in Q3 2020. Despite this growth, the company recorded an EBITDA of -NOK 113 million, largely due to ramp-up costs at the new Herøya facility. The order backlog rose 8% to NOK 1,014 million, with a potential order pipeline exceeding USD 6 billion. CEO Jon André Løkke remains optimistic about long-term prospects in the hydrogen market, aiming for increased electrolyser capacity.

Nel Hydrogen Electrolyser AS, a division of Nel ASA (OSE: NEL), has secured a 5MW alkaline water electrolyser order from SGN for a pioneering 100% hydrogen heating network in Scotland.

The electrolyser will produce up to 2,093kg/day of green hydrogen, initially serving 300 homes and potentially expanding to 900 homes.

This project represents a significant advancement in green hydrogen infrastructure, aiming to decarbonize heating in domestic sectors.

Nel Hydrogen US, a subsidiary of Nel ASA, has secured a contract valued at USD 2.6 million for a 1.25 MW PEM electrolyzer to be installed at a US nuclear power plant. This innovative project aims to produce zero carbon hydrogen and will demonstrate the economic feasibility of hydrogen production at nuclear sites. The electrolyzer, due for delivery in 2022, will address turbine cooling and chemistry control needs. This initiative is part of the DOE's H2@Scale program, highlighting Nel's commitment to clean energy solutions.

Nel ASA will announce its Q2 2021 report on August 19, 2021, at 07:00 CET, with a presentation at 08:00 CET in Oslo, Norway. CEO Jon André Løkke will present, followed by a Q&A session. Due to Covid-19 restrictions, physical attendance is limited; interested participants must register via email. The presentation will be streamed live on Nel's website. The report will also be accessible on NewsWeb and Nel's official site.

Nel Hydrogen Electrolyser, a division of Nel ASA (OSE: NEL), has partnered with Ovako, Volvo, Hitachi ABB, and H2 Green Steel to create a fossil-free hydrogen facility in Hofors, Sweden. This initiative aims to reduce CO2 emissions from steel production by 50%. The project, costing approximately SEK 180 million, is supported by the Swedish Energy Agency. Nel will supply its electrolyser equipment, marking a significant step towards developing hydrogen infrastructure for transportation and standardizing solutions across Europe.

On May 3, 2021, Nel Hydrogen Electrolyser, a division of Nel ASA (OSE:NEL), announced a collaboration with First Solar, Inc. (NASDAQ:FSLR) to develop integrated PV Hydrogen power plants. This partnership aims to utilize both companies' expertise to deliver low-cost solar-to-hydrogen solutions, enhancing renewable energy efficiency. The initial phase will focus on creating a control system optimizing PV-electrolyser hybrid projects. Both companies expect to innovate further in technology integration for sustainable hydrogen production.

Nel ASA has signed a framework agreement with Aibel to collaborate on large-scale renewable hydrogen projects. This partnership aims to leverage Aibel's extensive engineering and construction experience, enhancing Nel's project execution capabilities. Both companies anticipate new business opportunities within the growing green energy sector. The collaboration includes integration on a 20 MW PEM hydrogen production plant for Iberdrola, announced in January 2021.