Nel ASA Secures Landmark Hydrogen Contract Amid Market Challenges

Norwegian hydrogen technology firm Nel ASA has positioned itself at a potential inflection point following the announcement of a major new equipment order. The company secured what ranks as its second-largest contract ever, valued at over $50 million, providing a significant boost during a period of industry-wide headwinds.

The substantial order comprises Nel’s MC 500 containerized PEM electrolyzer systems destined for the HyFuel and Kaupanes hydrogen initiatives, with each project featuring 20 MW of capacity. This transaction represents the largest PEM equipment order in Nel’s corporate history.

Both ventures benefiting from this equipment have received considerable government backing through Enova subsidies:
– The HyFuel project obtained 180 million Norwegian krone in Read more...