NEL - Fundamentale forhold (NEL)

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Nel leverer resultat før skatt på minus 116 millioner

Nel leverer resultat før skatt på minus 116 millioner

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Nel ASA: Awarded EUR 135 million in grants for industrialization of next-generation electrolyser technology in Norway

(October 22, 2024 - Oslo, Norway) Nel Hydrogen Electrolyser AS, a fully owned
subsidiary of Nel ASA (Nel, OSE:NEL), has today been awarded a grant from the EU
Innovation Fund of up to EUR 135 million for industrialization of its next
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-generation pressurized alkaline technology. The technology is currently being
prototyped, and the potential industrialization is planned at Herøya, Norway.

“We continue to realize the full potential of our current technology at the same
time as we develop future technologies to help our customers drive down the cost
of green hydrogen. This grant will make it significantly easier for us to bring
our new innovative pressurized alkaline technology to market,” said Nel’s
President and CEO, Håkon Volldal.

Nel has been developing its next-generation pressurized alkaline technology for
more than five years. The technology is currently in the prototype stage with
promising results. Nel has now been awarded a grant for a phased build-out of
production at Herøya, Norway. The grant application was supported by Enova SF,
the Norwegian national contact point for the EU Innovation Fund.

“Building on nearly 100 years of electrolyser innovation, we have developed this
new, differentiated technology that will be a step-change in cost and
performance for renewable hydrogen. Bringing a new technology to market always
entails risk, and we are thankful for the support we have previously received
from the Research Council of Norway and Innovation Norway. With this
substantially larger grant from the EU Innovation Fund, we will be able to bring
the innovation to market at an accelerated pace,” Volldal says.

The initial build-out is planned for an annual capacity of 1-2 GW, utilizing
existing space at Nel’s current facility in Herøya, Norway. The support will be
phased with Nel’s own investments for up to 4 GW of capacity for pressurized
electrolyser equipment in Norway. A final investment decision to start building
the capacity depends on achieving successful testing in the current prototype
and planned pilot stage, as well as market acceptance of the new technology.

ENDS

For additional information, please contact:
Kjell Christian Bjørnsen, CFO, +47 917 02?097
Wilhelm Flinder, Head of Investor Relations, +47 936 11 350
Lars Nermoen, Head of Communications, +47 902 40 153

About Nel ASA | www.nelhydrogen.com
Nel has a history tracing back to 1927 and is today a leading pure play hydrogen
electrolyser technology company with a global presence. The company specializes
in Alkaline and PEM technology for production of renewable hydrogen. Nel’s
product offerings are key enablers for a green hydrogen economy, making it
possible to decarbonize various industries such as transportation, refining,
steel, and ammonia.

This information is subject to a duty of disclosure pursuant to Section 5-12 of
the Norwegian Securities Trading Act. This information was issued as inside
information pursuant to the EU Market Abuse Regulation, and was published by
Wilhelm Finder, Head of Investor Relations, at NEL ASA on the date and time
provided.

Kilde

[E24Bot]

Nel-kunde i store problemer: Har startet konkursprosess

Nel-kunde i store problemer: Har startet konkursprosess

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De barmhjertige shorterne

De barmhjertige shorterne

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Nel ASA: Receives another 10 MW purchase order from Samsung C&T

(December 3, 2024 - Oslo, Norway) Nel Hydrogen Electrolyser AS, a subsidiary of
Nel ASA (Nel, OSE:NEL), has signed a new contract for 10 MW of alkaline
electrolyser equipment for about EUR 5 million with Samsung C&T Corporation
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Engineering & Construction Group (‘Samsung C&T’) for its first pilot for nuclear
connected (pink) hydrogen production plant.

The first contract with Samsung C&T signed earlier this year was for an off-grid
project based on solar power, while the client will now set up a demonstration
plant to validate the commercial model for nuclear pink hydrogen. The aim is to
produce hydrogen from excess nuclear power generation, allowing to utilize
energy that is otherwise wasted in periods of oversupply, increasing overall
energy efficiency

“Samsung C&T has ambitious plans in the hydrogen industry, and we are pleased
that we, for the second time now, have been selected to deliver the electrolyser
for this exciting and meaningful project,” says Håkon Volldal, President and CEO
of Nel ASA.

Samsung C&T (Construction and Trading) focuses on global engineering,
procurement, and construction. The company has signed several green hydrogen
agreements and continues to strengthen its energy transition business portfolio.

“This is the very first hydrogen production project using nuclear power in Korea
and we needed to have the most reliable electrolysis technology for executing
the project. There is no doubt that Nel’s technology can meet our expectation.
We are thrilled to partner with Nel again in pink hydrogen production project.
Samsung C&T hope to strengthen the partnership with Nel to develop more
opportunities in clean hydrogen business,” says Samsung C&T’s Head of Energy
Solution Business Unit, Byung Soo Lee.

This is a firm purchase order for alkaline stacks and balance-of-stacks (BoS).
The electrodes will be produced in the Herøya facility in Norway, the world’s
first fully automated electrolyser production line.

ENDS

For additional information, please contact:
Kjell Christian Bjørnsen, CFO, +47 917 02?097
Wilhelm Flinder, Head of Investor Relations, +47 936 11 350

About Nel ASA | www.nelhydrogen.com
Nel has a history tracing back to 1927 and is today a leading pure play hydrogen
technology company with a global presence. The company specializes in
electrolyser technology for production of renewable hydrogen, and hydrogen
fueling equipment for road-going vehicles. Nel’s product offerings are key
enablers for a green hydrogen economy, making it possible to decarbonize various
industries such as transportation, refining, steel, and ammonia.

This information is subject to a duty of disclosure pursuant to Section 5-12 of
the Norwegian Securities Trading Act. This information was issued as inside
information pursuant to the EU Market Abuse Regulation, and was published by
Wilhelm Finder, Head of Investor Relations, at NEL ASA on the date and time
provided.

About Samsung C&T
Samsung C&T Engineering & Construction Group has 50 years of experience
operating throughout the world. Under the motto of ‘trusted builder’, the group
focuses on three key areas: commercial and residential buildings, civil
infrastructure, and plant construction. Its landmark projects include the Burj
Khalifa in the UAE, the Petronas Towers in Malaysia, the Riyadh Metro in Saudi
Arabia, and the 5,600MW Barakah Nuclear Power Plant in the UAE.

Find our more about
Samsung C&T Newsroom :https://news.samsungcnt.com
Samsung C&T Official website :http://www.samsungcnt.com/eng/index.do

Kilde

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Nel ASA: Additional USD 29 million in tax credits for manufacturing expansion in Michigan

(January 12, 2025 - Oslo, Norway) A subsidiary of Nel ASA (Nel, OSE:NEL) has
been awarded up to about USD 29 million in additional investment tax credits for
its planned manufacturing expansion in Michigan as part of the Qualifying
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Advanced Energy Project Tax Credit (48C) program.

The 48C program is funded by the Inflation Reduction Act and managed by the US
Department of Energy, the US Department of Treasury, and the Internal Revenue
Service. A fully owned subsidiary of Nel ASA has now secured up to about USD 29
million in additional tax credits, equivalent to 30 % of the value of qualifying
investments. Receipt is subject to conditions, such as wage and apprenticeship
requirements.

“Nel has a long history of investing in R&D and commercializing advancements co
-supported by federal funding, creating confidence in Nel’s ability to
manufacture and deliver products to the field. Nel appreciates this continued
support from Department of Energy in scaling up manufacturing capability of our
advanced electrolyser products,” says Kathy Ayers, Vice President, Research and
Development of Nel.

Accumulated, Nel has now secured close to USD 200 million in support in both tax
credits and other grants from the state of Michigan and Department of Energy.
Final investment decision for the Michigan facility is not yet taken, and the
build out of the site depends on demand.

ENDS

For additional information, please contact:
Kjell Christian Bjørnsen, CFO, +47 917 02?097
Wilhelm Flinder, Head of Investor Relations, +47 936 11 350

About Nel ASA | www.nelhydrogen.com
Nel has a history tracing back to 1927 and is today a leading pure play hydrogen
electrolyser technology company with a global presence. The company specializes
in Alkaline and PEM technology for production of renewable hydrogen. Nel’s
product offerings are key enablers for a green hydrogen economy, making it
possible to decarbonize various industries such as transportation, refining,
steel, and ammonia.

This information is subject to a duty of disclosure pursuant to Section 5-12 of
the Norwegian Securities Trading Act. This information was issued as inside
information pursuant to the EU Market Abuse Regulation, and was published by
Wilhelm Finder, Head of Investor Relations, at NEL ASA on the date and time
provided.

Kilde

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Nel ASA: Adjusts capacity to market demand

(January 13, 2025 - Oslo, Norway) Nel ASA (Nel, OSE:NEL) and its subsidiaries
have initiated a process to adjust capacity to market demand by reducing the
workforce and temporarily halting production at the Alkaline production facility
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in Herøya, Norway.

The market for renewable hydrogen production technology has been slower than
expected for the industry in general, including Nel. Order intake in 2023 and
2024 fell short of expectations, and several customer projects are significantly
delayed or are at risk of being cancelled. In addition, Nel has initiated a
process to retain control over delivered equipment as compensation for more-than
-one-year overdue receivables (from an undisclosed customer) as communicated in
previous financial reports. As a result, Nel has limited need to produce new
alkaline electrolyser equipment in the near-term and will adjust its production
and organizational capacity correspondingly.

“While the long-term outlook for clean hydrogen remains strong, we must make
some tough decisions today based on lower order intake in 2024 than expected,”
says Nel’s President and CEO, Håkon Volldal. “This is an unfortunate situation,
and I’m sorry that we now have to let go of many qualified people.”

Nel has decided to halt production in Herøya temporarily. This will
predominantly impact the Norwegian workforce in the Alkaline business segment.
The planned reductions will affect roughly 20% of the full-time employees
reported at the end of the third quarter 2024. Approximately half of the
reductions have already been executed in the fourth quarter of 2024 through
voluntary resignations and termination of consultants.

“The company remains well financed, and with these actions we will preserve cash
while still being able to aggressively pursue sales opportunities and invest in
technology development,” says Kjell Christian Bjørnsen, CFO of Nel.

Nel continues to see a strong pipeline of clean hydrogen projects and is
actively working on several concrete bids, including projects where Nel is
currently undertaking paid front-end engineering design (FEED) studies. Nel also
sees good near-term opportunities to sell containerized PEM systems. The company
will also continue to further develop its current and next-generation technology
platforms.

ENDS

For additional information, please contact:
Kjell Christian Bjørnsen, CFO, +47 917 02?097
Wilhelm Flinder, Head of Investor Relations, +47 936 11 350
Lars Nermoen, Head of Communications, +47 902 40 153

About Nel ASA | www.nelhydrogen.com
Nel has a history tracing back to 1927 and is today a leading pure play hydrogen
technology company with a global presence. The company specializes in
electrolyser technology for production of renewable hydrogen, and hydrogen
fueling equipment for road-going vehicles. Nel’s product offerings are key
enablers for a green hydrogen economy, making it possible to decarbonize various
industries such as transportation, refining, steel, and ammonia.

This information is subject to a duty of disclosure pursuant to Section 5-12 of
the Norwegian Securities Trading Act. This information was issued as inside
information pursuant to the EU Market Abuse Regulation, and was published by
Wilhelm Finder, Head of Investor Relations, at NEL ASA on the date and time
provided.

Kilde

[E24Bot]

Nel stopper produksjon og vil kutte ansatte

Nel stopper produksjon og vil kutte ansatte

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Nel stopper produksjon og vil kutte ansatte: – Veldig synd

Nel stopper produksjon og vil kutte ansatte: – Veldig synd

[E24Bot]

Luften ut av hydrogenballongen

Luften ut av hydrogenballongen

[Savepig]

Hydrogen har en del klare ulemper, men hadde likevel et case sånn verden så ut før alt ble mørkt.

Etter at man slo av atomkraftverk og russerne tok verden ut i krig, så er ikke lenger den virkningsgraden som Hydrogen kan tilby noe verden enkelt kan unne seg, kanskje bortsett fra noen unntak?

[Bingo123]

I tillegg vinner rene batterier på tungtransport

[Savepig]

Tja. Jeg heller nå mot å tro på tesen om at den drastisk mye raskere fyllingen med hydrogen fremdeles ville kunne utkonkurrere de ekstreme effektene man må ha på hurtiglading:

1,2 megawatt for å kunne lade en enkelt ferje liksom.

De lader ferge med 1,2 megawatt effekt - uten fysisk kontakt med fartøyet

[Bingo123]

Tror jeg du tar feil
Batteriteknologien utvikles i en ellevill fart
Bare vent til solid state kommer

[Savepig]

Vi snakker ikke om nøyaktig det samme, om du ikke da mener at bedre batterier vil kunne gjøre at man har andre lademønstre som gjør at man ikke trenger så høy toppeffekt?

Uansett om man får bedre batterier, så trenger man jo like mye strøm for å gjøre samme mengde arbeid, og det må lades før bruk.

[TekBot]

Nel ASA: Acquired equity stake in Cavendish Hydrogen

(January 16, 2025 - Oslo, Norway) Nel ASA (Nel, OSE:NEL) has acquired a 4.85%
stake in Cavendish Hydrogen to support the company strategically for its long
-term success.
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Reference is made to the filing made today by Cavendish Hydrogen calling for an
Extraordinary General Meeting to replace the current Board of Directors. When
Nel spun out and separately listed its Fueling business, the entity was set up
to maximise its long-term potential. To be able to succeed, a highly competent
and dedicated Board of Directors is needed.

“We have a long history together and it is strategically important for Nel to
maintain a good and collaborative relationship with Cavendish and some of its
customers. As such, we intend to vote in favour of the nomination committee’s
proposals” says Kjell Christian Bjørnsen, CFO of Nel ASA.

ENDS

For additional information, please contact:
Kjell Christian Bjørnsen, CFO, +47 917 02?097
Wilhelm Flinder, Head of Investor Relations, +47 936 11 350

About Nel ASA | www.nelhydrogen.com
Nel has a history tracing back to 1927 and is today a leading pure play hydrogen
electrolyser technology company with a global presence. The company specializes
in Alkaline and PEM technology for production of renewable hydrogen. Nel’s
product offerings are key enablers for a green hydrogen economy, making it
possible to decarbonize various industries such as transportation, refining,
steel, and ammonia.

Kilde

[Freddys]

Cavendish Hydrogen-styret trekker seg etter en drøy måned

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Cavendish Hydrogen skal kutte kostnader og nedbemanne kraftig

Cavendish Hydrogen skal kutte kostnader og nedbemanne kraftig

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Nel ASA: Receives purchase order for 5 MW of containerized PEM electrolysers

(January 21, 2025 - Oslo, Norway) Nel Hydrogen US, a subsidiary of Nel ASA (Nel,
OSE:NEL), has received a purchase order for two containerized PEM electrolyser
units for about USD 7 million. The two MC500 electrolysers, 2.5 MW each, will be
…

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used to produce hydrogen for a new steel mill in the US.

The undisclosed customer, one of the largest US steel producers, already uses
Nel’s PEM electrolysers to generate hydrogen at two other sites in the US.

“We are delighted to receive a purchase order from an existing customer, as it
signifies their satisfaction with the performance of our electrolysers,” says
Nel’s Chief Commercial Officer, Todd Cartwright.

“We continue to see an increasing demand for our containerized PEM electrolysers
for smaller installations as this reliable turn-key concept offers easy outdoor
installation and operation,” he says.

This is a firm purchase order for two PEM MC500 units that will be produced
Nel’s manufacturing facility in Wallingford, Connecticut.

ENDS

For additional information, please contact:
Kjell Christian Bjørnsen, CFO, +47 917 02?097
Wilhelm Flinder, Head of Investor Relations, +47 936 11 350

About Nel ASA | www.nelhydrogen.com
Nel has a history tracing back to 1927 and is today a leading pure play hydrogen
technology company with a global presence. The company specializes in
electrolyser technology for production of renewable hydrogen, and hydrogen
fueling equipment for road-going vehicles. Nel’s product offerings are key
enablers for a green hydrogen economy, making it possible to decarbonize various
industries such as transportation, refining, steel, and ammonia.

This information is subject to a duty of disclosure pursuant to Section 5-12 of
the Norwegian Securities Trading Act. This information was issued as inside
information pursuant to the EU Market Abuse Regulation, and was published by
Wilhelm Finder, Head of Investor Relations, at NEL ASA on the date and time
provided.

Kilde

[TekBot]

NOTIFICATION OF MAJOR HOLDINGS

Please see attachment on www.newsweb.no
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Kilde