Welcome to our dedicated page for Nel Asa news (Ticker: NLLSY), a resource for investors and traders seeking the latest updates and insights on Nel Asa stock.
Nel ASA (NLLSY) generates a steady stream of company news centered on hydrogen technology, electrolyser projects, and strategic partnerships. As a pure play hydrogen technology company with a history tracing back to 1927, Nel focuses on alkaline and PEM electrolysers for renewable hydrogen production and, through its former division, hydrogen fueling equipment for road-going vehicles.
News updates frequently highlight new purchase orders and project awards. Examples include contracts for containerized PEM MC500 electrolysers to supply hydrogen for a new steel mill in the US and for the Aberdeen Hydrogen Hub project in Scotland, as well as orders for alkaline electrolyser equipment for projects with Samsung C&T, including a pilot nuclear-connected hydrogen production plant. These announcements illustrate how Nel’s technology is applied in sectors such as steel and other industrial uses.
Investors and observers can also expect news on strategic collaborations and capital partnerships. Nel has reported a technology licensing agreement with Reliance Industries Limited for alkaline electrolysers in India and an EPC collaboration agreement with SAMSUNG E&A, which also involves a private placement making SAMSUNG E&A a significant shareholder. Further updates cover cooperation with EPC partner Saipem on the IVHY™ 100 modular 100 MW green hydrogen solution.
In addition, Nel publishes financial result releases, information on grants and tax credits for manufacturing expansion in locations such as Norway and Michigan, and updates on its transition to a fully dedicated electrolyser company after spinning off its fueling division as Cavendish Hydrogen ASA. Bookmark this page to access ongoing coverage of orders, partnerships, funding awards, and financial disclosures related to Nel ASA and its ADR, NLLSY.
Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA, has received a record purchase order for 200 MW of alkaline electrolyser equipment from an undisclosed US customer.
The contract, valued at over EUR 45 million, will be executed from February 2023 to mid-2024. This project received significant funding from private investors and local government incentives, demonstrating Nel's capabilities in large-scale hydrogen production. The completion of this project is expected to positively influence Nel's financials and establish a reference for future contracts.
Nel Hydrogen US, a subsidiary of Nel ASA, has secured a purchase order from Viva Energy Australia for a MC500 containerized PEM water electrolyser, slated to be the largest in Australia. This electrolyser will produce up to 1,063kg/day of green hydrogen for fuel cell vehicles at a new energy service station in Geelong. The project, valued at approximately EUR 4 million, received funding from the Australian Renewable Energy Agency and the Victorian Government. Delivery is expected in Q3 2023, marking an important step in Australia's efforts to decarbonize the mobility sector.
Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA (OSE:NEL), has secured a purchase order for an alkaline electrolyser system from Skovgaard Energy Aps in Denmark. This system will facilitate the production of green ammonia, marking a significant step towards dynamic green ammonia production powered directly by renewable energy. The project has received support from the Danish Energy Technology Development and Demonstration Program, with a contract value of approximately EUR 4 million and an expected delivery in Q3 2023.
Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA (NLLSY), has received a EUR 2 million order for an alkaline electrolyser system to generate green hydrogen for
Nel Hydrogen Electrolyser AS, a division of Nel ASA, has secured a purchase order for a 20MW alkaline water electrolyser from Ovako, a top European engineering steel manufacturer. The contract, valued at approximately EUR 11 million, aims to replace fossil propane gas with fossil-free hydrogen in heating furnaces at Ovako's plant in Hofors, Sweden. This transition could reduce CO2 emissions from steel production by 50 percent. The delivery is scheduled for late 2022, marking a significant step towards zero-carbon steel production.
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.