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Nel ASA (Nel) is a hydrogen technology company. It specializes in water electrolysis systems for renewable hydrogen production. Its product includes alkaline and proton exchange membrane (PEM) electrolysers. The company’s offerings include the PSM Series MW-class PEM stack modules, MC Series containerized PEM electrolysers, atmospheric alkaline electrolysers, and compact PEM units such as the C, H, and S Series. Its systems support hydrogen generation for industrial use, energy storage, and fueling applications. It serves transportation, steel, refining, ammonia production, and renewable energy. Nel is headquartered in Oslo, Norway.
Headquarters
Norway
Address
Karenslyst Alle 49, Oslo, 0279
Website
nelhydrogen.com
Telephone
47 2 3248950
No of Employees
354
Industry
Alternative Energy
Ticker Symbol & Exchange
NEL (OSL)
Revenue (2024)
$129.3M
3%
(2024 vs 2023)
EPS
XYZ
Net Income (2024)
XYZ
71.4%
(2024 vs 2023)
Market Cap*
$571.9M
Net Profit Margin (2024)
XYZ
72.3%
(2024 vs 2023)
* As of and is in US$
Nel ASA premium industry data and analytics
Products and Services
| Products |
|---|
| Water Electrolysers and Hydrogen Generators: |
| Atmospheric Alkaline Electrolyser |
| PEM Electrolyser – PSM Series |
| XYZ |
| XYZ |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2025 | Contracts/Agreements | In October, Nel Hydrogen US secured a firm purchase order from H2 Energy for one MC500, a containerized 2.5 MW PEM electrolyzer. |
| 2025 | Contracts/Agreements | In March, Nel Hydrogen US won a purchase order from Collins Aerospace for PEM electrolyzer stacks for about US$6 million. |
| 2025 | Contracts/Agreements | In March, Nel Hydrogen US secured a purchase order for one 2.5 MW containerized PEM unit for the Aberdeen Hydrogen Hub project in the north-east of Scotland. |
Competitor Comparison
| Key Parameters | Nel ASA | Plug Power Inc | Hexagon Composites ASA | FuelCell Energy Inc | HydrogenPro ASA |
|---|---|---|---|---|---|
| Headquarters | Norway | United States of America | Norway | United States of America | Norway |
| City | Oslo | Latham | Alesund | Danbury | Porsgrunn |
| State/Province | - | New York | - | Connecticut | Telemark |
| No. of Employees | 354 | 3,224 | 1,019 | 538 | 151 |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Ole Enger | Chairman | Executive Board | 2017 | 78 |
| Hakon Volldal | Chief Executive Officer | Senior Management | 2022 | 50 |
| Kjell Christian Bjornsen | Chief Financial Officer | Senior Management | 2020 | 50 |
| Marius Løke | Chief Technology Officer | Senior Management | 2023 | 49 |
| Stein Ove Erdal | Chief Legal Officer | Senior Management | 2019 | 47 |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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