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 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.
Nel ASA announced a framework agreement with Wood for collaboration on large-scale green hydrogen projects globally. This partnership aims to enhance project management capabilities as the industry evolves towards complex renewable solutions. Jon André Løkke, CEO of Nel ASA, expressed enthusiasm about this long-term commitment, which is expected to bolster competitiveness in the growing green hydrogen sector. The integration of Wood into ongoing projects is already in progress, signifying an immediate impact on operations.
Nel ASA has signed a Memorandum of Understanding (MoU) with Haldor Topsoe to develop end-to-end solutions for green ammonia and methanol. This partnership aims to leverage both companies’ technologies, enhancing their positions in the growing market for carbon-free fuels. Nel will utilize its expertise in alkaline and PEM electrolysis, while Haldor Topsoe will provide its catalysts and engineering support. The collaboration is set to deliver innovative low-carbon solutions to meet increasing market demand. A formal collaboration agreement is expected later this year.
Nel ASA reported Q4 2020 revenues of NOK 229.1 million, up from NOK 175.9 million in Q4 2019. Despite this revenue growth, the company faced an EBITDA loss of NOK 96.2 million. Its order backlog increased by 90% to approximately NOK 980 million, while cash reserves exceeded NOK 2.3 billion. The company aims to produce green hydrogen at USD 1.5 per kilo by 2025, emphasizing a strong long-term outlook.
Nel Hydrogen Fueling, a subsidiary of Nel ASA, has secured a purchase order valued at approximately EUR 3.2 million from ZE PAK SA for H2Station™ hydrogen fueling stations. These stations will support both passenger vehicles and buses in Poland.
This marks Nel's entry into the Polish market, highlighting attractive opportunities in the region. Delivery of the fueling stations is expected in 2021.
Nel Hydrogen Fueling, a subsidiary of Nel ASA, has secured a purchase order from Everfuel Europe A/S for an H2Station™ hydrogen fueling station in the Netherlands. The station will support zero-emission hydrogen buses and is valued at approximately EUR 1.6 million. It is expected to be operational by the end of 2021. This marks the second order from Everfuel, underscoring the growing demand for green hydrogen solutions across Europe.
Nel ASA reported second-quarter 2020 revenues of NOK 148.6 million, a 21% increase from NOK 122.5 million in Q2 2019. Adjusted EBITDA was negative NOK 22.3 million. The order backlog surged 75% to over NOK one billion, supported by a strong cash position exceeding NOK 2.5 billion. Despite challenges from COVID-19, Nel aims to capitalize on growth opportunities in green energy and has increased production capacity targets at its Herøya facility. The company maintains a positive long-term outlook amidst ongoing market activity.