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NEL ASA ( (NLLSF) ) just unveiled an announcement.
Nel ASA’s subsidiary, Nel Hydrogen Electrolyser AS, has experienced a setback as Statkraft decided to cancel a 40 MW contract, resulting in a NOK 120 million reduction in backlog. This decision reflects the challenges in creating a viable commercial model for hydrogen projects under current market conditions, impacting Nel’s operations and market positioning.
More about NEL ASA
Nel ASA is a leading company in hydrogen electrolyser technology, with a global presence and a history dating back to 1927. Specializing in Alkaline and PEM technology, Nel’s products are crucial for enabling a green hydrogen economy, facilitating the decarbonization of industries such as transportation, refining, steel, and ammonia.
YTD Price Performance: -9.20%
Average Trading Volume: 33,638
Technical Sentiment Signal: Buy
Current Market Cap: $432.2M
Find detailed analytics on NLLSF stock on TipRanks’ Stock Analysis page.