Norwegian Hydrogen Specialist Nel ASA Secures Major Contract Expansion

Nel ASA, the Norwegian hydrogen technology company, continues its impressive momentum with the announcement of another significant contract win. This latest strategic partnership follows closely on the heels of a $50 million deal secured earlier in November, generating enthusiastic responses across financial markets.

The company has been appointed exclusive technology provider for two major Norwegian hydrogen initiatives located in Kristiansund and Slagentangen. These projects, receiving support from Enova, are positioned to play a pivotal role in establishing the region's green hydrogen infrastructure framework.

GreenH, the project developer, is concentrating on building a comprehensive network of hydrogen production facilities aimed at decarbonizing maritime operations, transportation systems, and industrial applications. The agreement with Nel ASA encompasses supply of essential electrolyzer equipment alongside comprehensive engineering services and technical support.

Should investors sell immediately? Or is it worth buying Nel ASA?

Key project specifications include:

• Individual Capacity: Each location will feature a minimum capacity of 10 MW
• Combined Output: Total minimum capacity exceeding 20 MW across both sites
• Exclusive Provider: Nel ASA serving as sole equipment supplier

Rapid Succession of Major Deals Energizes Market

Market observers are particularly attentive to the timing of this announcement, marking the second substantial contract award for Nel ASA within a remarkably brief period. During early November, a subsidiary of the company secured a firm order valued at more than $50 million for the HyFuel and Kaupanes initiatives. That transaction, involving 40 MW PEM electrolyzer systems, represented the largest PEM contract in the corporation's operational history.

The November 6th disclosure propelled the company's share price upward by nearly 20 percent. This most recent contract revelation has potential to generate additional positive momentum for the hydrogen-focused equity, potentially extending its upward trajectory.