OSLO, Norway, Dec. 3, 2024 /PRNewswire/ -- 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 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

OSLO, Norway, Dec. 3, 2024 /PRNewswire/ -- 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 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

OSLO, Norway, Dec. 3, 2024 /PRNewswire/ -- 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 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

OSLO, Norway, Oct. 22, 2024 /PRNewswire/ -- 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-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.

OSLO, Norway, Oct. 22, 2024 /PRNewswire/ -- 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-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.

OSLO, Norway, Oct. 16, 2024 /PRNewswire/ -- Nel ASA (Nel) (OSE: NEL) reported revenues of NOK 366 million in the third quarter of 2024, up 21% from NOK 303 million in the same quarter last year. EBITDA in the quarter was NOK -90 million (Q3 2023: -62). The Alkaline segment contributed positively to Group EBITDA, but this was more than offset by the negative contribution from the PEM segment due to unusually low revenues in the quarter. Order intake was NOK 161 million (Q3 2023: 338 million). At the end of the quarter the order backlog was NOK 1 872 million, down 20% year-over-year. The cash balance was NOK 1 941 million at quarter end.

OSLO, Norway, Oct. 16, 2024 /PRNewswire/ -- Nel ASA (Nel) (OSE: NEL) reported revenues of NOK 366 million in the third quarter of 2024, up 21% from NOK 303 million in the same quarter last year. EBITDA in the quarter was NOK -90 million (Q3 2023: -62). The Alkaline segment contributed positively to Group EBITDA, but this was more than offset by the negative contribution from the PEM segment due to unusually low revenues in the quarter. Order intake was NOK 161 million (Q3 2023: 338 million). At the end of the quarter the order backlog was NOK 1 872 million, down 20% year-over-year. The cash balance was NOK 1 941 million at quarter end.

OSLO, Norway, Oct. 2, 2024 /PRNewswire/ -- Nel ASA's (Nel) (OSE: NEL) EPC partner Saipem unveils IVHY™ 100, a scalable and modular 100 MW green hydrogen solution leveraging Nel's technology, advancing the decarbonization of hard-to-abate industries and renewable hydrogen production.

The innovative renewable hydrogen generation solution has been designed and industrialized to be scalable, modular, and to facilitate the installation and commissioning of large-scale systems. IVHY™ 100 is powered by Nel's alkaline electrolysers, which have been tested in the market for decades, demonstrating world-class robustness, durability, and energy efficiency, making it the ideal choice for businesses seeking to optimize their operations and total cost of ownership.

OSLO, Norway, Oct. 2, 2024 /PRNewswire/ -- Nel ASA's (Nel) (OSE: NEL) EPC partner Saipem unveils IVHY™ 100, a scalable and modular 100 MW green hydrogen solution leveraging Nel's technology, advancing the decarbonization of hard-to-abate industries and renewable hydrogen production.

The innovative renewable hydrogen generation solution has been designed and industrialized to be scalable, modular, and to facilitate the installation and commissioning of large-scale systems. IVHY™ 100 is powered by Nel's alkaline electrolysers, which have been tested in the market for decades, demonstrating world-class robustness, durability, and energy efficiency, making it the ideal choice for businesses seeking to optimize their operations and total cost of ownership.

OSLO, Norway, Oct. 2, 2024 /PRNewswire/ -- Nel ASA's (Nel) (OSE: NEL) EPC partner Saipem unveils IVHY™ 100, a scalable and modular 100 MW green hydrogen solution leveraging Nel's technology, advancing the decarbonization of hard-to-abate industries and renewable hydrogen production.

The innovative renewable hydrogen generation solution has been designed and industrialized to be scalable, modular, and to facilitate the installation and commissioning of large-scale systems. IVHY™ 100 is powered by Nel's alkaline electrolysers, which have been tested in the market for decades, demonstrating world-class robustness, durability, and energy efficiency, making it the ideal choice for businesses seeking to optimize their operations and total cost of ownership.