Nel ASA Shares Surge on Major Hydrogen Contract

A substantial new order has ignited a powerful rally for Nel ASA, with the Norwegian hydrogen specialist’s stock climbing nearly 20%. This surge marks a decisive break from a previous period of weaker performance, establishing a clear near-term upward trajectory for the equity.

The catalyst for this significant market revaluation is a major contract secured by Nel Hydrogen US, a subsidiary of the company. The firm purchase order, valued at over $50 million, was awarded by two Norwegian hydrogen projects, HyFuel and Kaupanes. Both projects are being developed by Hydrogen Solutions AS (HYDS).

Under the terms of the agreement, Nel will supply proton exchange membrane (PEM) electrolyzer systems with a Read more...