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Nel ASA - NLLSY STOCK NEWS

Welcome to our dedicated news page for Nel ASA (Ticker: NLLSY), a resource for investors and traders seeking the latest updates and insights on Nel ASA.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Nel ASA's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Nel ASA's position in the market.

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Nel and partners secure $90 million from the Department of Energy for research and development projects.
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Nel ASA (Nel) receives USD 75 million in incentives and grants from the US Department of Energy and the state of Michigan for a new electrolyser production facility. The support aims to create green industrial jobs and contribute to the energy transition. Nel also secures USD 50 million from DOE for a new gigafactory and workforce development initiatives, along with USD 25 million from Michigan. The total support amounts to approximately USD 125 million, with plans for a 4 GW production capacity in Michigan.
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Nel ASA plans to potentially spin off and separately list its Fueling division to create two independent companies aiming to be market leaders. The decision is based on limited synergies between divisions and the belief that independence will enhance market leadership. Nel is exploring the process with the goal of listing the fueling company in 2024, ensuring sufficient liquidity for its success.
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Nel ASA (Nel) and Nikola have realigned their previous agreement, and at the same time Nel will become Fortescue's supplier for their 80 MW electrolyser, for a total consideration of
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Nel ASA (Nel) reported quarterly revenues of NOK 405 million in Q3 2023, up 121% from the same quarter last year. EBITDA improved to NOK -109 million. Order intake was NOK 352 million, and the order backlog was NOK 2,854 million. Cash balance was NOK 3,799 million. Nel Hydrogen Electrolyser saw a 116% increase in revenue. Two significant electrolyser contracts were signed. Plymouth Charter Township was selected as the location for Nel's new electrolyser Gigafactory. The Fueling division is shifting focus towards high-capacity systems for heavy-duty transportation.
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Nel has selected Plymouth Charter Township, Michigan as the location for its next gigafactory, with a total annual capacity of 4 GW Alkaline and PEM technology. The Michigan Strategic Fund has provided a financial support package of $10 million grant and a $6.25 million exemption. Nel has secured over $50 million in support for its Michigan site, with a potential increase to $150 million pending approval. The Governor of Michigan welcomes the investment, highlighting the creation of jobs and leadership in clean energy.
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Nel ASA (Nel) reported record-high quarterly revenues of NOK 475 million in Q2 2023, up 159% YoY. Order intake was NOK 428 million, up 81% YoY. Order backlog increased by 106% to NOK 2,964 million. Cash balance was NOK 4,122 million at quarter end.
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Nel plans to build a new automated gigawatt electrolyser manufacturing facility in Michigan, creating over 500 jobs. Michigan is chosen for financial incentives, skilled workforce, and collaboration with General Motors. The facility will have a production capacity of up to 4GW of Alkaline and PEM electrolysers.
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Nel ASA

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